RMS(one) Development Network Gets Its First Commercial Partners

Apps created through the unique development network extend the range of risk management capabilities available to users of RMS(one), which RMS describes as the industry’s first and only real-time exposure and risk management environment.

(Gantryway within RMS’s Iceland-based facilities, where the RMS(one) platform was developed.)

SpatialKey (Denver) and Analyze Re (Halifax, Nova Scotia) are among the first commercial partners to join the the RMS(one) Developer Network, and are building applications that leverage the RMS(one) application programming interface (API). Apps created through the Network extend the range of risk management capabilities available to users of RMS(one), which RMS describes as the industry’s first and only real-time exposure and risk management environment.

The RMS(one) Developer Network, characterized by the vendor as the first of its kind in the industry, allows developers to tap into the large quantity of exposure and risk data and analytics available on the RMS(one) platform and to potentially bring innovative solutions to market. Apps are being developed by individual developers, start-ups and large companies to extend the capabilities of the RMS(one) platform, according to RMS.

“Members of the RMS(one) Developer Network are building apps that unlock the possibilities of the RMS(one) platform in a variety of ways, from visualization to advanced analytics and pricing tools,” comments Alex Barnett, vice president of developer relations, RMS. “By developing apps and integrating data on the RMS(one) platform, clients can create a single source of truth for exposure and risk data.”

An app developed by SpatialKey allows analysts and executives in the insurance and reinsurance industries to visualize and analyze exposure and risk data (Editor’s Note: see vendor-provided video below article text). Analyze Re, is a technology firm that provides portfolio optimization and pricing solutions to the reinsurance industry. whose product helps increase efficiency of capital deployment through its portfolio-based risk metrics and optimization platform.

“The RMS development Network is a great idea; It really opens doors to the development community, which are not only software developers and independent software vendors but also the academic community, which can now contribute to the RMS(one) ecosystem,” says Oliver Baltzer, CTO, Analyze Re. “Using the RMS API we can directly access contract definitions out of RMS (one as well as model results which we can use to then provide deeper insight into that risk using our analytic platform.”

The RMS(one) Developer Network is available to clients and third-party developers and provides all of the tools necessary to build apps leveraging the RMS(one) platform. RMS(one) Developer tools include the RMS(one) API and RMS(one) Model Development Kit (MDK), which enables RMS client and partner developers to integrate tools, applications and models with RMS(one).

 

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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