AIR Worldwide Named Best Risk Modelling Services Provider By Intelligent Insurer Magazine
Catastrophe modeling firm AIR Worldwide is proud to announce that it has been named "Best Risk Modelling Services Provider" by Intelligent Insurer magazine. The Intelligent Insurer Global Awards 2015 reveal the companies working across the reinsurance industry that are regarded as the best in their respective fields by their peers and these honors are based on extensive research gained from the magazine's annual Global Reinsurance Survey.
"We would like to congratulate AIR Worldwide in its success in securing this award. This category is always a tight-run contest but, in the opinion of our readers, AIR edged it this year," said Wyn Jenkins, managing editor at Intelligent Insurer. "I think that can be attributed to some of the new models and innovations it has launched in the past 12 months. Risk modelling becomes more important to the risk-transfer industry every year and only with constant advancements in this field can the industry truly progress and fulfill its potential to help society better-manage the increasingly complex risks it faces."
"On behalf of AIR Worldwide, we are honored to be recognized by distinguished insurance professionals for providing outstanding catastrophe risk modelling services within the reinsurance industry," said Dr. Milan Simic, senior vice president and managing director of international operations at AIR Worldwide. "This vote of confidence, which reflects the perception of global insurance executives, is an endorsement of our strategy of providing clients with the most scientifically advanced models, superior service, and state-of-the-art tools that allow them to truly own their risk."
In July 2015, AIR released Version 3.0 of its catastrophe risk modeling software platform Touchstone®, with rapid adoption across the global marketplace. Version 3.0 of Touchstone introduced comparative loss analytics that allow companies to evaluate multiple sets of loss results simultaneously, including results between model versions, between different exposure sets, or using different policy terms. Also this year, AIR released a suite of models, including updates to the U.S. hurricane model, such as anew hydrodynamic storm surge module; comprehensive updates to the hazard and engineering components of the Canada severe thunderstorm model; new tropical cyclone and winter storm models for Canada; an expanded global pandemic model that includes corona viruses and filo viruses; an expanded European inland flood model to include Austria, the Czech Republic, and Switzerland; a significant update to the South America earthquake models that include the ability to assess tsunami risk and that adds Ecuador to the model domain; new flood hazard maps for Brazil; and an update to the Japan typhoon model to include storm surge.
About AIR Worldwide
AIR Worldwide (AIR) is the scientific leader and most respected provider of risk modeling software and consulting services. AIR founded the catastrophe modeling industry in 1987 and today models the risk from natural catastrophes and terrorism in more than 90 countries. More than 400 insurance, reinsurance, financial,corporate, and government clients rely on AIR software and services for catastrophe risk management, insurance-linked securities,detailed site-specific wind and seismic engineering analyses, and agricultural risk management. AIR Worldwide, a Verisk Analytics(Nasdaq:VRSK) business, is headquartered in Boston with additional offices in North America, Europe, and Asia. For more information,please visit www.air-worldwide.com.