Innovation of Deterministic Scenarios
- Design of Disaster Scenarios;
- Specification and parameterization of Scenarios;
- Specification of footprint, damage factor;
- Innovation of simple, yet sophisticated solutions;
- MRT Seven Scenarios:
- MRT provides 7 scenarios for clients to download;
- 3 wildfire, 3 flood and 1 earthquake scenarios;
- SQL queries provided for clients to calculate exposure and loss within the footprint in less than 5 minutes;
- Scenario packages are available to download here.
Vendor Model Evaluation & Validation
- Quantitative Materiality Assessment;
- Generation of a Red-Amber-Green materiality scheme;
- Core (Red) Extensive validation reports needed;
- 2nd Tier (Amber) Moderate validation reports needed;
- 3rd Tier (Green) No validation reports needed;
- Validation of New Released Catastrophe Models;
- Generation of View of Risk;
- Catastrophe Model Vendors Evaluation & Comparison:
- Evaluation of Vendor A versus B;
- Comparison of each component of Vendor A versus B;
- Sophisticated blending of Vendor A & B components and results to finally prepare (re)insurers view of risk.
- Major Model Change Governance;
- Preparation of Catastrophe Model Validation Documents;
- Module validation:
- Validation of Hazard Module;
- Validation of Vulnerability Module;
- Validation of Geo-coding Engine;
- Validation of Financial Module;
- Assessment of Materiality of Changes;
- Generation of (Re)Insurers View of Risk.
Tools Innovation & Development - Exposure Management R Package
- A combination of packages written using R, SQL for:
- Auto-reporting;
- Grouping Event Loss Tables;
- Simulating Year Loss Tables using ELT;
- Netting down losses;
- Portfolio optimization and accounts marginal impact;
- Exposure calculation per geographical boundary;
- Extracting OEP/AEP for RP from RDMs;
- Pre-bound data cleansing: Schedule data cleansing;
- Post-bound data cleansing: Improving EDM quality using some checks;
- Generating professional reporting graphs: tree map, step charts, etc.;
- Identify loss causing exposure per region: useful for treaty books;
- Identify stochastic event magnitude contribution to AAL and OEP;
- Insert new ELTs into RDM: updating rates, scaling loss, etc.;
- Extract each account ELT and set as a new analysis id in RDM;
- Updating rates and loss in ELT: company view of risk;
- And more.
Tools Innovation & Development - Probabilistic Modelling Using Underwriters View of Loss
- A combination of packages written using R, SQL for Auto-reporting;
- PMUV - Probabilistic Modelling Using Underwriters View of Loss;
- What is PMUV?
- Usually used for Retro, Reinsurance and non-modelled regions;
- Where there is no modelling details for a region peril;
- AEP is based upon underwriters opinions/experiences.
- Solution:
- Using R, SQL base, Industry ELT, and Underwriters View of Loss, an ELT for the class of business is created;
- Output is an ELT, where its AEP is the same as underwriter experience AEP view.
- Advantages:
- UELTs for each class is generated;
- Generated ELTs can be grouped with the rest of classes ELTs for reporting and internal model.
Tools Innovation & Development - Portfolio Optimisation
- Development of an R-SQL code to calculate the accounts marginal impact;
- Calculation of the portfolio impact by adding/removing an account;
- AAL and OEP portfolio will be used for optimization.
Tools Innovation & Development - Region Peril Materiality Assessment
- A quantitative, green amber red method;
- To assess the materiality of each region peril;
- Using severity, frequency, historical loss, and exposure;
- Output is High, Moderate, and Low materiality for each region peril.
Tools Innovation & Development - Standard & Auto Reporting
- Generation of regular reporting;
- Standard and professional graphs and tables for reports;
- Reports generated in PDF format using R, Latex;
- Data is extracted from SQL database.
Tools Innovation & Development - Event Response - Exposure and Loss Estimation
- Calculation of exposure/loss in real/forecasted footprint;
- Generation of auto-mated reports;
- Generation of 2D maps in R and PDF and 3D maps in Google Earth.
Map Generation - Visualization on Google Earth
- Visualization on Google Earth;
- Development of KMLER R package to create 5D maps in Google Earth;
- Calculation of syndicate exposure in geographical boundaries:
- Postcodes;
- County;
- State;
- Cresta;
- Country.
Map Generation - Post Earthquake Intensity Hazard Map
- Development of a tool to create live Earthquake Intensity KML map;
- The tool provides the user with PGA, PGV, PSA, and Intensity hazard maps.
Map Generation - 2D HTML Mapping
- Generation of live HTML based map for worldwide countries and perils;
- Exposure and loss 2D mapping available via network drive.