Perceived high costs, IT requirements, multiple platforms, and general resistance to change are classic barriers to adopting new systems, even if there are opportunities for improvement. JBA Risk Management is committed to making it easier for (re)insurance firms to access complex data and mitigate flood risk.
ModEx is a fully independent multi-vendor modelling solution and presents JBA with a platform where they can make their models available to the industry. Being able to deliver their complex data via the ModEx platform has the benefit of eliminating potential barriers that customers might have toward changing models or adopting multiple views of risk. By using the ModEx platform, JBA can make their flood services available to the industry in an increasingly easy and cost effective way.
By offering model evaluations on ModEx, JBA challenges any fear of change by improving the model validation process and allowing for easier model comparisons. By outsourcing the client relationship, model onboarding and support to the ModEx team, JBA can focus on what they do best: develop advanced scientific flood modelling services.