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Mitsui Sumitomo Marine Management (MSMM, New York) has licensed RMS’s (Newark, Calif.) Exposure Manager, the first solution on the vendor’s RMS(one) platform, to strengthen its risk accumulation management.
Farhana Alarakhiya, VP, RMS.
The subsidiary of Mitsui Sumitomo Insurance Company (Tokyo) is one of several insurers using Exposure Manager to minimize blind spots within their risk portfolios, according to RMS. The cloud-based solution enables firms to manage their exposure concentrations more intuitively by providing a clearer, actionable view of real-time risk accumulations, the vendor says. The solution also allows management of exposure concentrations in what RMS characterizes as a consistent and robust manner, which the vendor says is essential for minimizing losses, delivering a more agile and informed company response following a catastrophe.
“RMS Exposure Manager gives us the analytics we need, when we need them—all based on the latest view of risk,” comments Michael Daly, SVP and chief underwriting officer, Mitsui Sumitomo Marine Management USA. “We’ve been really impressed by the speed and simplicity of calculating key metrics such as exposed limit, allowing us to very quickly derive insights into our exposures. The clearer view of our accumulations across our diverse risk portfolio makes it so much easier for our exposure management and underwriting teams to quickly make vital portfolio decisions on growth opportunities and risk hotspots, before information becomes outdated.”
Automated Reporting Capabilities
Exposure Manager contrasts with labor-intensive traditional methods of producing exposure reports by automating the formatting of data, running complex queries, and extracting information, streamlining the portfolio management process and generate better information for the point-of-underwriting, RMS says.
“Exposure Manager gives our clients the clear view they need to deliver portfolio-level insights that are backed by the latest science for a deeper, more comprehensive understanding of potential loss,” comments Farhana Alarakhiya, VP, software product marketing, RMS. “We have integrated the flagship RMS Financial Model and our library of hazard layers into Exposure Manager, making it so much easier for firms to minimize losses and optimize the use of their capital.”
Clients can access Exposure Manager via a web browser from any device, at any time, which reduces the time needed to make business decisions, according to the vendor.