How Moody’s Risk Modeler™ gave a top-15 US property and casualty (P&C) insurer the real-time insights to underwrite more profitably.
Key takeaways
- Single, on-demand view of risk
- Future-proofed architecture for cat modeling
- Flexible capacity to handle peak renewal periods
- Rapid onboarding of risk analysts and cat modelers
- Future-proofed architecture
- Integrated 95% of workflows into the platform in the first quarter of use
- Better-informed decisions and more balanced books of business
The challenge — improve risk selection and reduce catastrophe claims
To stay competitive in an industry that is being disrupted, one of North America’s largest property and casualty insurers needed an innovative risk modeling solution to improve its underwriting process. The goal was to select better risks and reduce losses for floods, windstorms, and earthquakes. It was essential to minimize disruptions and enhance risk insights at the point of underwriting decision-making.
The solution — Moody’s Risk Modeler for cloud, models, and services
After carefully considering solutions from various catastrophe risk analytics providers, the company felt confident Moody’s was the right choice for cloud, models, and services. It selected Risk Modeler to access, evaluate, compare, and deploy all Moody's catastrophe models — including Moody’s RiskLink™ and Moody’s RMS™ High Definition Models — using a single modeling application.
The outcome — complete on-demand view of risk at the point of underwriting, facilitating better-informed decisions and more balanced books of business
The carrier now has a complete view of risk across natural catastrophes with side-by-side model versions in one application. This created a complete on-demand view of risk at the point of underwriting, facilitating better-informed decisions and more balanced books of business.
Learn more
Catastrophe modeling
In an unpredictable world, discover how Moody’s best-in-class approach to catastrophe modeling, which integrates innovative analytics, technology, and science, is helping clients to quantify the potential impact of catastrophic events.