Gen Re Selects AIR's Touchstone Platform
(Thomson Reuters ONE) -
For Immediate Release:
Gen Re Selects AIR's Touchstone Platform
BOSTON, March 16, 2015 - Catastrophe modeling firm AIR Worldwide (AIR) today
announced that General Reinsurance Corporation (Gen Re), a global provider of
reinsurance solutions to the property/casualty insurance industry, has adopted
AIR's Touchstone(®) platform along with the complete suite of AIR's global
catastrophe models. In addition to leveraging Touchstone's detailed loss
modeling capability, Gen Re has licensed the platform's Hazard Analytics,
Geospatial Analytics, and Data Quality Analytics modules. AIR is a Verisk
Analytics (Nasdaq:VRSK) business.
Gen Re is deploying Touchstone across its global insurance and reinsurance
operations, including the Lloyd's syndicate Faraday, Gen Re Cologne, Gen Re
North America, Gen Re Fac, and General Star. Touchstone will be integrated
within Gen Re to support a broad range of risk management needs, from General
Star's underwriting of excess and surplus (E&S) business through Gen Re's
enterprisewide roll-up and reporting functions.
"We're using Touchstone to gain insight into our individual treaty portfolios
within Gen Re and to better understand the risk to these exposures," said Tony
Sammur, president and CEO of Gen Re Intermediaries and Gen Re's chief
catastrophe modeler. "We did an extensive review of Touchstone and were
impressed with the functionality currently available and AIR's road map for the
future. We're already taking advantage of this robust platform to help us better
understand and evaluate even the most complex exposure to risks for our
corporation."
In January 2013, AIR released Touchstone, which is rapidly being deployed
throughout the industry and creating new opportunities for catastrophe risk
management. Later this year, AIR will be releasing Touchstone 3.0, which will
offer comparative analytics that allow companies to compare current portfolio
losses with those from previous periods or compare loss results from an updated
model with those from the previous release. Also coming in the next release is
access to detailed hazard data by stochastic event to give users even more
insight into the drivers of loss. Touchstone 3.0 will also provide expanded loss
modification capabilities to allow companies to develop their own view of risk.
"Touchstone offers a suite of tools to help companies like Gen Re truly
understand and own the risk by providing the flexibility, transparency, and
performance needed in today's risk management landscape," said Rob Newbold,
senior vice president at AIR Worldwide. "Touchstone has an open platform
architecture, which means companies can seamlessly integrate third-party data
and models to manage their nonmodeled risk or even test alternative views for
perils and regions where an AIR model already exists."
About General Reinsurance
Gen Re, a Berkshire Hathaway Company, is one of the leading Property/Casualty
and Life/Health reinsurers in the world, with a network of more than 40 branch
and subsidiary offices in key reinsurance markets.
About AIR Worldwide
AIR Worldwide (AIR) is the scientific leader and most respected provider of risk
modeling software and consulting services. AIR founded the catastrophe modeling
industry in 1987 and today models the risk from natural catastrophes and
terrorism in more than 90 countries. More than 400 insurance, reinsurance,
financial, corporate, and government clients rely on AIR software and services
for catastrophe risk management, insurance-linked securities, detailed site-
specific wind and seismic engineering analyses, and agricultural risk
management. AIR, a Verisk Analytics (Nasdaq:VRSK) business, is headquartered in
Boston with additional offices in North America, Europe, and Asia. For more
information, please visit www.air-worldwide.com.
###
For more information, contact:
Kevin Long
AIR Worldwide
+1-617-267-6645
klong(at)air-worldwide.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: AIR Worldwide via GlobeNewswire
[HUG#1902171]
Unternehmensinformation / Kurzprofil:
Datum: 16.03.2015 - 11:02 Uhr
Sprache: Deutsch
News-ID 378603
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