Risk Management Solutions (RMS) unveils the latest version ofits Data Quality Toolkit, which enables reinsurers to assess,manage, and improve the quality of their exposure data. The Toolkitoffers a new building valuation capability that helps reinsurers toidentify potential valuation issues with particular lines ofbusiness, regions, or portfolios, and to understand the riskassociated with under and over-valuation of properties. The Toolkitgives reinsurers insight into the data quality of a singlesubmission or across one or more risk portfolios.

“We are proud to offer clients a product that allows them tomake informed business decisions and target poor quality data forefficient clean-up, saving them both time and money,” says RogerArnemann, vice president of data solutions at RMS. “Buildingvaluation is an exciting addition to the solution and a greatcomplement to our completeness and accuracy scoring process,wrapping up a powerhouse of objective analysis into metrics thatclients can act upon.”

The RMS Data Quality Toolkit measures and visualizes the qualityof exposure data across the dimensions of completeness andaccuracy, providing a single quality score for each. Unlike dataquality assessments based solely on total insured value, DataQuality

Toolkit analytics are tailored for catastrophe model use, andtake financial structures such as sub-limits and restrictedpolicies into consideration.

The toolkit uses sophisticated heuristics to identify suspectgeocoding, unusual exposure attribute combinations and inconsistentfinancial structure coding in client data. It then compares it tothe RMS ExposureSource Database, which contains primary modelinginformation for more than 11 million commercial and over 68 millionresidential locations.

“The Data Quality Toolkit embodies a comprehensive arsenalof data quality analytics, packaged into easily assimilatedactionable metrics and visuals that highlight potential areas forinvestigation,” says Arnemann. “This enables clients toderive new and objective insight from their exposure data, quicklyidentify issues, and make significant targeted improvements inoverall data quality. With these capabilities, clients are able tomake more informed business decisions and gain competitiveadvantage.”