Arch chooses AIR platform for cat loss modelling

Published in: Risk management, Risk Models, Cat risk, Software - IT

Companies: Arch, AIR Worldwide

Arch Worldwide Insurance Group has selected AIR Worldwide’s catastrophe modelling system, Touchstone, to help manage its catastrophe risk.

Arch will use Touchstone for detailed loss modelling, and AIR said it has built a customised suite of tools that integrate its models into Arch's infrastructure.

“We're excited to align with AIR, whose world-class suite of models will provide deeper insight to our organisation’s catastrophic risk," said Nicolas Papadopoulo, Arch chairman and chief executive.”

“Access to the most up-to-date information is key to making the best-informed decisions, and we view AIR and Verisk [AIR’s parent company] as market leaders in data collection and analytics.”

Bill Churney, president, AIR Worldwide, said: "The ability of Touchstone to seamlessly embed catastrophe modelling output directly into Arch's existing pricing and risk management system proved to be invaluable.”

Touchstone was updated in June to enable users to perform new analytics, simplify their workflows and enhance the customisation of the platform.

These enhancements include support for zone-based analytics for detailed loss modelling, 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.

Christopher Cundy