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.

Previous Cat model validations:

• North America Earthquake;
• North Atlantic Hurricane;
• European Windstorm;
• European Earthquake;
• Japan Windstorm;
• Japan Earthquake;
• Australia Windstorm;
• New Zealand Earthquake;
• Chile Earthquake;
• Central America Earthquake;
• Caribbean Earthquake;
• Industrial Facility Model.