Enterprise Grid Computing is an optional and separately licensed component of the RMS product suite to be released with version 10.0 of RMS' catastrophe modeling software. Changes in the latest version of RMS RiskLink and RiskBrowser also will deliver performance and scalability improvements, increasing efficiency and reducing model runtimes.
Working closely with Microsoft, RMS has constructed large-scale computing grids that overcome bottlenecks for high volumes of data and analytics. Enterprise Grid Computing enables insurers and reinsurers to match their computing resources 'on demand' to users and jobs that create the biggest impact on the business.
With Enterprise Grid Computing, run times can be reduced, allowing companies to gain more up-to-date views of portfolio risk and a near real-time understanding of modeled losses. Advanced job management capabilities also allow the most critical jobs to preempt lower priority jobs that are already running.
"High-performance computing is revolutionizing the way companies do business by providing them with insights and analytics that are driving their decision-making," said Kyril Faenov, general manager, technical computing, at Microsoft. "The velocity of information is increasing, and the way that companies choose to capture and use it, by applying sophisticated analytics, will be the basis of future competition."
With Enterprise Grid Computing insurers and reinsurers will also be able to run more analytical cycles and process higher quantities of data than ever before, allowing them to gain insights into their portfolios at the point of decision-making and test assumptions used in RMS models, as well as in their own portfolio exposure data.
"Catastrophe modeling is at a stage in its evolution where companies want to dig into sensitivity testing and gain a firm grasp of the models' assumptions, limitations, and capabilities," said Paul VanderMarck, chief products officer at RMS. "As advances in science and data increase the granularity and precision of models, high-performance computing accommodates the mounting volume of information and enables companies to gain insight into, and importantly, to quantify key drivers of uncertainty and make more informed decisions."
