\ˈtəch-ˌstōn\ n.
- A flint-like stone used to test the purity of gold and silver.
- The next generation modeling platform that will instill confidence in your risk management decisions and enable you to truly own your risk.
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The challenges of managing risk are immense. The losses can be large. But risk management is not just about mitigating the risk. Companies are searching for the path to continued profitable growth. In today’s economic environment of low investment returns, the return on underwriting becomes critical.
Meanwhile, new regulatory regimes are making it incumbent upon companies to demonstrate a deep understanding of their risk—an understanding that can only be obtained by having an intimate familiarity with the models that reveal it.
Yet in practice, the unceasing march of scientific progress, the cascades of new data, the continued growth of exposure in areas of high hazard, and the accumulation of real-time events around the world can increase complexity to the point where obscurity reigns.
Own the risk. The world at hand is a challenging one. To meet it head on, companies need tools that empower them, not hold them captive—tools that allow them to truly own their risk.
What does that mean? Owning the risk means having a deep understanding of your exposures and enterprisewide loss potential. Owning the risk requires deep insight into the drivers of uncertainty—and managing to them. Owning the risk means that all key stakeholders in your organization understand the risk, not just a select group—and it means having the ability to communicate the risk in clear and intuitive language to external stakeholders.
Owning your risk means not only generating the information you need to make better business decisions, it also means having the right information available to the right person at the right time.
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Making Confident Decisions
Touchstone—the next generation catastrophe modeling platform from AIR Worldwide—gives you the means to own your risk by delivering scientifically robust, transparent models that can serve as the trusted currency by which to assume, manage, and transfer risk.
Touchstone enables you to manage your accumulations—globally. Assess the quality of your data and improve it, compare your data to the industry, or determine your zonal accumulations and exposed limits.
Touchstone helps you determine your cat capacity by region and peril, identify the policies that are driving your large loss scenarios and what kinds of risks contribute disproportionately to your large loss potential. Touchstone facilitates a wide range of marginal impact analyses and sensitivity testing.
Ultimately, Touchstone will allow you to pull back the curtain on the wizard by testing the sensitivities of the models and model assumptions. Determine the impact on modeled losses of alternative analysis settings, or of unknowns in the exposure data. Assess and quantify the uncertainty due to catalog size, event parameters, or in the damage distribution. No longer can it be said that models are black boxes.
Advancing Technology
Technology can be daunting. But it can also be transformative. Touchstone’s industry-leading technologies include intuitive user interfaces, streamlined database structures, and award-winning geospatial analytics.
Perhaps most importantly, a high-performance computing framework—optimized for catastrophe modeling processes—will decrease model run times by orders of magnitude. Large computationally complex jobs can be scaled in parallel across hundreds of cores, allowing you to simultaneously run multiple analyses and generate results at different levels of detail and with different loss perspectives.
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Harnessing the Power of the Models to Own Your Risk
AIR catastrophe models have long been considered the most scientifically robust, transparent, and reliable models in the industry. Now, Touchstone gives you all the tools you need to harness the power of the models—and truly own your risk.
Lifting the Fog of Obscurity to Better See Your Business
Visualization is a powerful tool for understanding data and conveying information. Touchstone’s award-winning spatial analytics enable you to instantly visualize and filter the geographic distribution of your total insured value, your exposed limits, and modeled losses in relation to different soil types, fault locations, flood zones, potential terrorist targets, or the hazard footprints of historical events to better understand the drivers of loss. Charts and graphs can be exported at the click of a button to create intuitive reports to facilitate discussions with regulators, rating agencies, and board members.
From Reporting to Interactive Discovery
Sometimes, you don’t know what questions you are going to ask before you ask them. By being able to run analyses much more quickly and intuitively, you will be able to analyze your risk at the speed of thought. You’ll be able to run more analyses more frequently, perform the additional sensitivity testing necessary to truly own your risk, and have more time for the kinds of informed decision-making that lead to profitable growth.
Offering Choice
Key to our technology strategy is the ability to offer choice. Touchstone is deployable either on premises or in the cloud, as a standalone risk management application or fully integrated with your existing systems.
The ability to offer choice makes our job more difficult in the interest of making your job easier. But that’s our job—making sure you have the information you need, when and where you need it. Meeting your needs as they evolve is what we do, and this kind of responsiveness is what you have come to expect from AIR.
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