Dr. Matthew Jones to head up Simplitium’s Insurance Product Development

Press Release - 12.09.2018

Aiste Kalinauskaite appointed Lead Insurance Product Developer

Simplitium®, a global financial services technology provider and wholly owned subsidiary of Cinnober Financial Technology, announce the appointments of Dr. Matthew Jones as Head of Insurance Product Development and Aiste Kalinauskaite as Lead Insurance Product Developer at Simplitium.

Matthew will lead the product development of the company’s ModEx solution, the only independent multi-vendor platform for catastrophe risk modelling. As a leading catastrophe risk modelling practitioner, Matthew will be instrumental in delivering on ModEx’s agenda.

Dr. Matthew Jones comments: “ModEx is paving the way for catastrophe modelling globally, delivering new efficiencies to an industry used to legacy systems and excessive costs. With over 20 years of experience in the industry I have a good understanding of the requirements of a risk modelling team. As Head of Insurance Product Development, I will be able to apply this experience to develop ModEx and ultimately help improve how we manage catastrophe risk as an industry.”

Aiste Kalinauskaite joins as the lead developer for ModEx. Aiste, architect of the Open Exposure Data (OED) format, has a decade’s experience in exposure management and catastrophe modelling. She will be focussing on streamlining the catastrophe modelling process.

Aiste Kalinauskaite comments: “We are bringing modern technology to an area of the industry which has seen little change over the past 30 years. I am thrilled to become a permanent member of the team as we strive to innovate how firms access and use catastrophe models across the world.”

John Yonker, CEO of Simplitium, adds: “Matthew and Aiste bring over 30 years of combined industry experience to Simplitium. Matthew’s knowledge and expertise combined with Aiste’s unique experience in designing and streamlining catastrophe modelling processes will help us further develop our ModEx solution and bring additional efficiencies to the industry”.

Matthew and Aiste have been contractors at Simplitium since September 2017 and January 2018 respectively. Both appointments are effective from October 1.

For further information, please contact:
Emmy Granstrom
Marketing Director
Simplitium
+44 (0)20 3735 4981
emmy.granstrom@cinnober.com


 

About Dr. Matthew Jones
Matthew Jones is the founding Director of Cat Risk Intelligence, a UK based company providing catastrophe risk management consultancy to the (re)insurance industry. In his previous role as Global Head of Catastrophe Management for Zurich Insurance Group, Matthew led the organisational change required to establish a global team with consistent processes to provide catastrophe knowledge, systems, models and services across Zurich’s general insurance lines of business. He worked for Zurich for fourteen years, including various roles in the actuarial pricing and catastrophe risk management fields. Prior to this Matthew was a reinsurance pricing actuary for St Paul Re in London.

Matthew graduated from the UK’s University of Nottingham in 1993 with a degree in Physics. He then completed a PhD in Oceanography and Remote Sensing from University College London, whilst being based at the UK’s National Oceanography Centre in Southampton. He is a Fellow of the UK Institute of Actuaries and a co-author of ‘Natural Catastrophe Risk Management and Modelling: A Practitioner’s guide’.

About Aiste Kalinauskaite

Aiste Kalinauskaite is a Director at City Cat Consulting who provide expertise in catastrophe modelling and help to bridge the gap between exposure management and IT departments. With ten years of experience in the industry, Aiste has developed expertise in catastrophe modelling and exposure management. At Zurich Insurance Group, she worked on automation and streamlining of the catastrophe modelling process, which eventually led to work on the global exposure database project. While at Guy Carpenter, she worked for clients including the Lloyd’s Syndicates and global insurance companies, assessing their exposures and implementing their regulatory reporting. Her motto is to leave everything better than how you found it.

Since taking a module at university about SQL databases, Aiste has been passionate about the technology and its capabilities. Aiste holds degree in Econometrics from Vilnius University and a BSc (Hons) in Applied Statistics from University of Plymouth. After graduation, she collaborated with her lecturers to publish an article in Significance magazine on how to bring statistics into communities.

About ModEx®

ModEx is the first independent multi-vendor catastrophe risk modelling platform for the (re)insurance industry. Powered by the Oasis LMF, ModEx delivers a hosted and fully managed catastrophe risk modelling service that offers a new and cost-effective way for firms to meet their modelling requirements. The platform creates an ecosystem where model vendors make their models available to the industry via a single user interface, improving the quality and choice of models available in the market. For further information, please visit www.simplitium.com/modex.

About Simplitium®

By listening and responding to the market, Simplitium transforms complex challenges into flexible, scalable and secure solutions. Simplitium’s services help firms achieve greater efficiency and transparency in their daily operations, from regulatory compliance and cost management to catastrophe risk management. As a subsidiary of Cinnober, one of the world’s leading clearing and trading technology providers, Simplitium has the stability and structure to ensure secure and reliable delivery of world class services. For further information, please visit www.simplitium.com.