Probitas 1492 Selects AIR’s Touchstone to Provide Detailed Analytics
Probitas 1492 has selected AIR’s Touchstone platform to provide detailed analytics and better manage catastrophe risk.
“With a focus on global emerging markets, analytics is at the forefront of our business. We set ourselves apart with our modern, progressive business approach, championing the latest underwriting technology,” said Jon Foley, Chief Underwriting Officer – Property, Probitas 1492. “We’re glad to be working with a proven leader in the industry and feel that the science of AIR’s models coupled with the visualization and analytical capabilities of Touchstone allow our underwriters to be part of the modeling process and ultimately better manage, price, and transfer our risk.”
In July 2015, AIR released Version 3.0 of its catastrophe risk modeling software platform Touchstone, with rapid adoption across the global marketplace. Version 3.0 of Touchstone introduced comparative loss analytics that allow companies to evaluate multiple sets of loss results simultaneously, including results between model versions, between different exposure sets, or using different policy terms. Also this year, AIR released a suite of models, including updates to the U.S. hurricane model, such as a new hydrodynamic storm surge module; comprehensive updates to the hazard and engineering components of the Canada severe thunderstorm model; new tropical cyclone and winter storm models for Canada; an expanded global pandemic model that includes coronaviruses and filoviruses; an expanded European inland flood model to include Austria, the Czech Republic, and Switzerland; a significant update to the South America earthquake models that include the ability to assess tsunami risk and that add Ecuador to the model domain; new flood hazard maps for Brazil; and an update to the Japan typhoon model to include storm surge.
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