EQECAT AND RMS REACH DATA-SHARING AGREEMENT

Catastrophe modellers Eqecat and Risk Management Solutions have reached an agreement to share their exposure data schemas in an effort to promote data standardization for the industry and streamline modeling workflow and exposure assessment for underwriters and investment managers. Eqecat president Paul Little said that the agreement would improve the translation of data model inputs, as many companies use multiple models. “Workflow inefficiencies of moving and translating exposure between models is a time-consuming exercise, and this collaboration is going to save many man hours”, he said.