In order to best meet our clients’ needs, and align with our growing portfolio of solutions, Boat Services has changed its name to Simplitium and Boat Oasis has changed name to ModEx.

Welcome to

Modex

/ ABOUT MODEX

A GLOBAL APPROACH FOR MANAGING RISK

ModExTM (formerly known as Boat Oasis) is the catastrophe (cat) risk modelling platform for the (re)insurance industry powered by Oasis Loss Modelling Framework (LMF). 

ModEx delivers flexible, scalable and secure cat risk modelling services via a hosted and fully managed environment. ModEx is an independent and transparent platform that encourages model development and works with model providers from all over the world. The platform provides the (re)insurance industry with a cost-effective and reliable way to meet their cat risk modelling requirements.

The ModEx solution caters for the full suite of perils and allows model providers and other insurance systems to meet the individual needs of customers through a robust and secure shared services platform.

ModEx by Simplitium

IN PARTNERSHIP WITH

 

 

/ SOLUTIONS

EASE OF DEPLOYING MODELS

ModEx provides (re)insurance firms with the ability to deploy models quickly and securely via a shared service platform.

Scalable

SCALABLE

Utilising a shared computer environment, customers can get the resources they need, on demand, during busy periods and the renewals season.

Cost Effective

THE COST-EFFECTIVE SOLUTION

ModEx delivers economies of scale to reduce costs and optimise resources. These efficiencies enable customers to free up capital and re-think their cat risk modelling budget allocation.

Model development

ENCOURAGING MODEL DEVELOPMENT

The shared service platform creates a marketplace where vendors can easily make their models available to consumers, encouraging the development of new and improved cat risk models globally.

End to end support

END-TO-END SUPPORT

ModEx provides a single point of contact for all queries, ranging from the technology to the models themselves.

/ CAT RISK MODELS

CAT RISK MODELS

By delivering a range of solutions on single platform, we are bringing new levels of efficiency and cost-effectiveness to the (re)insurance industry.

PROVIDER MODEL LOCATION PERIL STATUS
Provider:

ARA

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Model:

HurLoss

ARA's "HurLoss" US hurricane model provides unparalleled insight into the potential impact of a hurricane before it occurs, providing a deep understanding of the hurricane peril which enables clients to effectively manage the total cost of risk.

Location: US Peril: Hurricane Status: Available
Provider:

CATRisk Solutions

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Model:

Earthquake Model

Cat Risk Solution’s Middle Eastern earthquake model covers Bahrain, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, United Arab Emirates and Yemen.

Location: Middle east Peril: Earthquake Status: Available
Provider:

Combus

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Model:

Bushfire

The bushfire peril model covers fires in grassland, scrub or forest that cover wide areas and cause damage and loss to the environment and property. The event occurrence model is based on parameters such as temperature, humidity and wind speed and the probability of building loss takes into account type of vegetation as well as physical distance.

Location: AU Peril: Bushfire Status: Available
Provider:

Combus

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Model:

Low Pressure System

The low pressure system model covers five different categories of Australian weather which have similar event features and mixes of damage and loss from sub-perils. The five weather types are East Coast Lows, Eastern Low Pressure Troughs, West Coast Troughs, Southern Ocean Lows and Monsoonal Low Pressure Troughs.

Location: AU Peril: Low pressure system Status: Available
Provider:

Combus

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Model:

Severe Convective Storm

The severe convective storm model covers thunderstorm events due to instability in different layers of the atmosphere which can include the loss-causing sub-perils of strong winds, flooding, hail, tornadoes and lightning. These events tend to last for a number of hours with the most damage occurring over a short period of time, compared to other weather events which may last for more than one day.

Location: AU Peril: Severe convective storm Status: Available
Provider:

Combus

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Model:

Earthquake

The earthquake model includes events with epicentres in Australia and in surrounding regions that lead to significant ground motion for Australian exposures. Site intensities in each modelled event are estimated based on a blend of published attenuation studies while damage to property takes account of Australian design codes.

Location: AU Peril: Earthquake Status: Available
Provider:

Combus

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Model:

Cyclone

The full tracks of each cyclone are modelled, including events crossing the coastline and those bypassing coastal regions. For each event in the database the maximum wind speed is determined for each location of interest and using that wind speed, modified by adjustments for terrain and topography, loss to individual buildings and contents is estimated. Wind, flood and storm surge.

Location: AU Peril: Cyclone Status: Available
Provider:

JBA Risk Management

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Model:

River, Surface Water and Sea Surge Flood

JBA’s UK Flood probabilistic model is the first to include river, surface water and coastal flood for the United Kingdom. Designed with the implementation of Flood Re in mind, the model enables the comprehensive, high-resolution quantification of flood risk to insured properties.

Location: UK Peril: Flood Status: Available
Provider:

JBA Risk Management

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Model:

River and Surface Water

JBA’s probabilistic flood model for river and surface water in Sri Lanka combines flood hazard maps and thousands of years of simulated events with a built environment model and bespoke vulnerability curves. Analysis in JCalf®, enables output of insured and ground up results.

Location: Sri Lanka Peril: Flood Status: On request
Provider:

JBA Risk Management

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Model:

River and Surface Water

The Malaysia model is a full probabilistic multi-peril flood model allowing analysis of risks from river flood (nationwide with around 15,000km total river length modelled) and surface water (modelled for 10 cities). With an underlying hazard map resolution of 30m, the Malaysia flood model’s resolution and quality are cutting edge in this territory.  

Location: Malaysia Peril: Flood Status: On request
Provider:

JBA Risk Management

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Model:

River and Surface Water

The India probabilistic flood model currently includes the 23 most exposed cities in the country, with surface water and river flood included depending on which peril is the greater threat to each city.  JBA's Global Flood Map has now modelled some 138,600 km of river in India.

Location: India Peril: Flood Status: On request
Provider:

JBA Risk Management

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Model:

River Flood

JBA Risk Management’s probabilistic flood model for Thailand was released in response to the need amongst insurers and reinsurers to better understand Thai flood risk following the floods of 2011. The model combines river flood hazard maps, covering 20,000km of river network, and 10,000 years of simulated events with bespoke vulnerability curves and a built environment model.

Location: Thailand Peril: Flood Status: On request
Provider:

JBA Risk Management

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Model:

River Flood

The Europe probabilistic model enables the calculation of return period losses across Europe. The underlying flood maps of Austria, Belgium, the Czech Republic, France, Germany, Hungary, Italy, Liechtenstein, Luxembourg, Poland, Slovakia, Slovenia and Switzerland are modelled at up to 10m resolution. An event set, a built environment model and vulnerability functions for 78 risk types complete the model which has five aggregation levels, from 5-digit postcode level up to Europe-wide level. 

Location: Europe Peril: Flood Status: On request

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/ ANALYTICS

PLATFORM ANALYTICS

Quicker run times plus seamless integration with TigerEye equals better analysis.

Read more about TigerEye ›

/ SHARED SERVICE

THE SHARED SERVICE

Ensuring there is enough capacity available to model different risk scenarios, and coping with large data fluctuations are two key considerations when modelling risk. Traditionally, this has meant that (re)insurance firms have had to deploy and manage large in-house servers at a high cost.

Today, (re)insurance firms are becoming increasingly interested in hosted and managed environments that enable the ability to move capacity up and down, achieve cost efficiencies, and free up IT resources.

ModEx delivers an agile shared service offering that is fully managed and securely hosted in Equinix data centres. The platform goes beyond just technology to create an ecosystem that leverages group buying power to achieve the best cost efficiencies and productivity gains for clients.

/ CLIENTS

CLIENTS

With ModEx we are bringing a new range of cost effective and transparent cat risk models to market for the benefit of the entire industry

Jamie Khurshid, CEO of Simplitium
/ LEARN MORE

FORCE MULTIPLIERS FOR MANAGING RISK

Discover how Oasis working with Equinix benefits you.

/ NEWS & EVENTS / ModEx

LATEST MODEX NEWS & EVENTS

Nov
09

ARA further strengthens ties with Simplitium

Model provision agreement solidifies relatonship between ARA and Simplitium. Applied Research Associates (ARA), the leader in first principles modelling of hurricane hazards and property losses, has joined forces with Simplitium and Oasis to offer a cost-effective solution for companies looking to better understand their U.S. hurricane risk. ARA and Simplitium have formalised an agreement for ARA’s state-of-the-art ...

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Sep
19

Boat Services strengthens team for catastrophe modelling shared service offering

Boat Services today announced the addition of Matt Jones and Bert Kerr as consultants to further develop the company’s fast growing catastrophe risk modelling business. Together they bring 30 years of industry expertise in (re)insurance catastrophe (cat) risk management to the Boat Oasis platform. Boat Oasis is the multi-peril cat risk modelling platform, delivered by Boat Services, operating on the Oasis Loss ...

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Sep
05

Boat Oasis expand portfolio to include flood models from JBA

Global catastrophe modelling firm JBA Risk Management has become the first flood modeller to integrate its probabilistic models onto the Boat Oasis platform –  the catastrophe risk modelling shared service built on the Oasis Loss Modelling Framework The leading provider of flood modelling and analytics to the insurance and reinsurance industry has joined forces with Boat Oasis to offer a cost-effective solution for ...

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/ CONTACT

CONTACT / MODEX

5 IRELAND YARD

LONDON

EC4V 5EH