The addition of RMS AAL and PML metrics will assist underwriters with pricing policies in catastrophe-prone areas, determining if customers have enough coverage and uncovering the effects of a policy on capacity.
RiskMeter users will be able to get AAL and PML data for earthquake, wind storm, winter storm, and severe convective storms (tornado and hail). In addition, RMS natural hazard information for distance to coastline, MMI (Mercalli) scores and soil type, as well as proprietary hurricane and earthquake scores and risk profiles also will be available.
This alliance has also addressed the need of straight-through-processing by making RMS reports available through RiskMeter.com. By entering an address, it's possible to run RMS and RiskMeter reports simultaneously. This feature will reduce redundant data entry and free up underwriters to spend more time on hard to place business.
"We have always made it a priority to offer the most up-to-date data, tools, and reports," says Dan Munson, founder, RiskMeter Online. "We believe this partnership with RMS demonstrates RiskMeter's commitment by providing users with another tool to help them to quickly assess risk and accurately price policies."
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