Catastrophe modeling firm AIR Worldwide’s modelling solution Touchstone has been selected by Arch Worldwide Insurance Group to help manage its catastrophe risk.
AIR Worldwide is a Verisk business.
Arch Worldwide Insurance Group chairman and CEO Nicolas Papadopoulo said: “We’re excited to align with AIR, whose world-class suite of models will provide deeper insight to our organization’s catastrophic risk. Access to the most up-to-date information is key to making the best-informed decisions, and we view AIR and Verisk as market leaders in data collection and analytics.”
Arch is leveraging Touchstone for detailed loss modeling, and AIR has built a customized suite of tools that integrate its models into Arch’s infrastructure. “AIR’s ability to integrate its models to our underwriting system is a testament to the company’s technical expertise and outstanding client service,” added Papadopoulo.
AIR Worldwide president Bill Churney said: “We’re thrilled to collaborate with Arch to provide a complete modeling solution to help manage their catastrophe risk.
“The ability of Touchstone to seamlessly embed catastrophe modeling output directly into Arch’s existing pricing and risk management system proved to be invaluable. And it was further proof that our advanced modeling platform is not only powerful but also flexible and customizable.”
Touchstone is a total risk management solution designed to perform the advanced analytics that companies need to own their risk. In June 2018, Touchstone was updated to include enhancements that enable users to perform new analytics, customize the software, and improve and simplify user workflows.
These enhancements include support for zone-based analytics for detailed loss modeling, improved management of Touchstone projects and data transfer between companies, an extensive refresh of the user interface, and the ability for clients to build and use custom models.
Source: Company Press Release