expanding model coverage in asia: 2014 and...
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Confidential ©2014 Risk Management Solutions, Inc.
Expanding Model Coverage in Asia: 2014 and Beyond Jason Futers Senior Vice President
Confidential ©2014 Risk Management Solutions, Inc.
COMMITMENT TO MODEL DEVELOPMENT
Claims data partnerships
Innovation New research
Global expansion
Library of solutions
RMS MODELS
Transparency
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PERILS WITH INADEQUATE OR NOT ENOUGH MODELING SOLUTIONS IN ASIA
58%
16%
10%
8% 4% 2% 2% Inland flood
Tsunami
Typhoon
Earthquake
Storm surge
Drought
Volcano
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• New Exposure Datasets
• Flood
• Tsunami
• Typhoon
• Earthquake
• Roadmap Timeline
NEW & UPDATED DATA PRODUCTS AND MODELS
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EXPOSURE
DATASETS
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UNDERSTANDING EXPOSURE BEGINS WITH RELIABLE INSIGHTS
INDUSTRIAL CLUSTERS CATALOG ECONOMIC EXPOSURE DATABASE
Platform independent
SQL EDM and MS Access ESRI shapefile format GIS polygons
Peril independent
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HIGH-RESOLUTION INDUSTRY EXPOSURE DATABASES IN KEY COUNTRIES PROVIDE LOCATION LEVEL DETAIL
Floor Area
Example: High resolution exposure in
Japan
Occupancy
No. Stories
New Zealand Japan North
America Europe
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Taiwan
Japan
New Zealand
Indonesia
Vietnam Thailand
South Korea
Malaysia
Singapore
Hong Kong
Philippines
EXPANDING EXPOSURE COVERAGE IN APAC
China
Developing
Current
Availability
IED
EED ICC
IED
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EXPOSURE: ACROSS THE GLOBE
EED and ICC Asia Pacific
IED and EED Japan
IED Europe
IED and EED New Zealand
IED U.S.A Canada Mexico
Developing
Current
Availability
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FLOOD INLAND
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0.01-0.20
0.2-0.50 0.5-1.00 1-1.50 1.5-2.00 2.0-2.50 2.5-3.00 3.0-3.50 3.5-4.00 4.0-4.50 4.5-5.00 5.0-5.50 >5.50
RMS APPROACH TO FLOOD MODELING PROVIDES USERS A COMPREHENSIVE AND COMPLETE VIEW OF RISK
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Depth Range (m)
SOUTH KOREA RETURN PERIOD FLOOD MAPS AND SCENARIOS AVAILABLE SOON AT 30M RESOLUTION
0.01-0.20
0.2-0.50 0.5-1.00 1-1.50 1.5-2.00 2.0-2.50 2.5-3.00 3.0-3.50 3.5-4.00 4.0-4.50 4.5-5.00 5.0-5.50 >5.50
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China
Developing
Current
Availability
South Korea
Japan
EXPANDING FLOOD COVERAGE IN APAC
Taiwan
TBD
Indonesia
Thailand
Typhoon driven flood
Typhoon driven flood
Developing
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U.S.A South Korea Japan
Europe
Developing
Current
Availability
FLOOD: ACROSS THE GLOBE
Taiwan,
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TSUNAMI
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TSUNAMI SCENARIO COVERAGE ACROSS THE GLOBE
• Manage accumulations
• Flag high-risk locations when underwriting
• Deterministic modeling - apply loss ratios to exposure to estimate potential losses to scenarios
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GLOBAL TSUNAMI SCENARIO CATALOG: 2011 JAPAN EVENT
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GLOBAL TSUNAMI SCENARIO CATALOG: 2011 JAPAN EVENT
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TYPHOON
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Taiwan
China
Developing
Current
Availability
South Korea
Vietnam
EXPANDING COVERAGE OF TYPHOON IN ASIA
Philippines
South East Asia
Japan
Basin-wide event set captures correlation of typhoon risk
3 Peril model for complete view of risk
High Resolution to support underwriting
Wind Inland Flood
Coastal Flood
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Developing
Current
Availability
WIND: ACROSS THE GLOBE
V.15 U.S.A Canada Mexico
South East Asia
Japan
V.15 Europe
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EARTHQUAKE
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• High resolution template for future earthquake models
NEW ZEALAND EARTHQUAKE
LIQUEFACTION
FIRE FOLLOWING PROBABILISTIC TSUNAMI
BUSINESS INTERRUPTION
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China
Developing
Current
Availability
Japan
Australia India
New Zealand Philippines
Vietnam Thailand
Malaysia
EXPANDING EARTHQUAKE COVERAGE IN APAC
Indonesia
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U.S.A Canada Mexico
South East Asia
Japan
New Zealand
Developing
Current
Availability
EARTHQUAKE: ACROSS THE GLOBE
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Exposure Data for Asia
South Korea hazard maps
Global Tsunami Scenario Catalog
Version 15
North Atlantic Hurricane update
Europe Windstorm update
HD Japan Typhoon (wind + flood)
HD Europe Flood
HD NZ EQ
HD North America Earthquake
HD US Flood
HD SE Asia EQ
HD Asia Typhoon
MODEL ROADMAP – TARGET RELEASE TIMINGS
to be scheduled:
Asia flood maps
Japan Earthquake
Europe hail, SCS, surge
HD North Atlantic HU
Timings subject to change: uncertainty is greatest further into the future
Taiwan flood maps
U.S. coastal flood maps
Europe-wide flood maps
U.S. inland flood maps