Simplitium™, a global financial services solutions provider and subsidiary of Cinnober Financial Technology (CINN:SS), is pleased to announce they have signed an agreement with Guy Carpenter & Company, LLC to deliver a dedicated ModEx™ catastrophe risk modelling solution.
ModEx is a fully independent and transparent catastrophe risk modelling platform for the (re)insurance industry, operating on the open source Oasis Loss Modelling Framework (LMF). The platform provides Guy Carpenter with a white-labelled modelling solution for the proprietary and third-party models it offers to clients.
The Oasis LMF is part of Guy Carpenter’s broad tool suite for developing, deploying and executing internal and third-party models to help clients own their view of risk. Simplitium’s ModEx enhances Guy Carpenter’s ability to do this by delivering a fully hosted and augmented Oasis LMF solution.
Guy Carpenter, a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), is a leading global risk and reinsurance specialist with over 2,300 professionals in nearly 60 offices around the world. The company helps its clients adapt to emerging opportunities and achieve profitable growth through a combination of specialised reinsurance broking expertise, trusted strategic advisory services, and industry-leading analytics. Catastrophe risk modelling helps its clients make improved decisions about their risk exposure.
“ModEx is changing the game for catastrophe risk modelling globally. With ModEx, Guy Carpenter will benefit from easy and intuitive access to all our catastrophe risk models via a single secure web-app,” said Mark Weatherhead, Head of Model Development at Guy Carpenter. “ModEx will provide us with a more efficient platform, allowing us to focus on interoperable model development and insights to better service our clients.”
Jamie Khurshid, CEO of Simplitium, commented: “Together with the Oasis LMF, we are changing the way firms develop, access and use catastrophe risk models. This agreement is a significant milestone for us and demonstrates that the Oasis framework is a viable tool for catastrophe risk modelling. By bringing the Oasis LMF to market through a hosted solution, ModEx is truly revolutionising the catastrophe risk modelling marketplace.”
For further information, please contact:
+44 (0)20 3735 4981
ModEx (formerly known as Boat Oasis) is the first independent multi-vendor catastrophe risk modelling platform for the (re)insurance industry. The platform, which operates on the Oasis LMF, is brought to market by Simplitium to deliver a hosted and fully managed catastrophe risk modelling service. ModEx provides the (re)insurance industry with a cost-effective and reliable way to meet their catastrophe risk modelling requirements. The platform provides (re)insurance firms with the tools to gain a better understanding of risk by accessing the best models from large and niche model developers from around the world. For further information, please visit www.simplitium.com/modex.
Oasis is a global not-for-profit company limited by guarantee and owned by its members. Its mission is to create and foster links throughout the wide community of those interested in modelling catastrophic risk across business, academia, and government. The Oasis LMF provides an open source platform for developing, deploying and executing catastrophe models. For more information, please visit www.oasislmf.org.
About Guy Carpenter
Guy Carpenter & Company, LLC is a leading global risk and reinsurance specialist with more than 2,300 professionals in over 60 offices around the world. Guy Carpenter delivers a powerful combination of broking expertise, trusted strategic advisory services and industry-leading analytics to help clients adapt to emerging opportunities and achieve profitable growth. Guy Carpenter is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With nearly 65,000 colleagues and annual revenue over $14 billion, through its market-leading companies including Marsh, Mercer and Oliver Wyman, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit www.guycarp.com. Follow Guy Carpenter on Twitter @GuyCarpenter.
By listening and responding to the market, Simplitium (formerly known as Boat Services) 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.