Arch Insurance Selects AIR's Modeling Solution to Help Manage Its Catastrophe Risk
BOSTON, November 5, 2018 — Catastrophe modeling firm AIR Worldwide announced that Arch Worldwide Insurance Group has selected Touchstone® as its primary modeling solution to help manage catastrophe risk. AIR Worldwide is a Verisk (Nasdaq:VRSK) business.
“We’re excited to align with AIR, whose world-class suite of models will provide deeper insight to our organization’s catastrophic risk,” said Nicolas Papadopoulo, chairman and chief executive officer, Arch Worldwide Insurance Group. “Access to the most up-to-date information is key to making the best-informed decisions, and we view AIR and Verisk as market leaders in data collection and analytics.”
Arch is leveraging Touchstone for detailed loss modeling, and AIR has built a customized suite of tools that integrate its models into Arch’s infrastructure. “AIR’s ability to integrate its models to our underwriting system is a testament to the company’s technical expertise and outstanding client service,” added Papadopoulo.
“We’re thrilled to collaborate with Arch to provide a complete modeling solution to help manage their catastrophe risk,” said Bill Churney, president, AIR Worldwide. “The ability of Touchstone to seamlessly embed catastrophe modeling output directly into Arch’s existing pricing and risk management system proved to be invaluable. And it was further proof that our advanced modeling platform is not only powerful but also flexible and customizable.”
Touchstone is a total risk management solution designed to perform the advanced analytics that companies need to own their risk. In June 2018, Touchstone was updated to include enhancements that enable users to perform new analytics, customize the software, and improve and simplify user workflows. These enhancements include support for zone-based analytics for detailed loss modeling, improved management of Touchstone projects and data transfer between companies, an extensive refresh of the user interface, and the ability for clients to build and use custom models.
About AIR Worldwide
AIR Worldwide (AIR) provides risk modeling solutions that make individuals, businesses, and society more resilient to extreme events. In 1987, AIR Worldwide founded the catastrophe modeling industry and today models the risk from natural catastrophes, terrorism, pandemics, casualty catastrophes, and cyber incidents. Insurance, reinsurance, financial, corporate, and government clients rely on AIR’s advanced science, software, and consulting services for catastrophe risk management, insurance-linked securities, longevity modeling, site-specific engineering analyses, and agricultural risk management. AIR Worldwide, a Verisk (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.
About Arch Capital Group
Arch Capital Group Ltd., a Bermuda-based company, provides insurance, reinsurance, and mortgage insurance worldwide through its subsidiaries.