AIR Worldwide Corporation has announced the latest releases of its CLASIC/2, CATRADER, and CATStation catastrophe risk management systems. Version 9.5 features import, analysis, and export enhancements.
“As the demand for catastrophe modeling grows, there is a greater need to perform reliable analyses in a shorter period of time,” says Uday Virkud, senior vice president at AIR Worldwide. “Today, catastrophe model users need to run detailed analyses and view their results in multiple ways to better understand their underlying catastrophe risk. In this release, we have focused on performance improvements so that our clients can derive the maximum benefit from our models during the short reinsurance renewal period.”
Users often spend significant time preparing and importing exposure data into their catastrophe modeling systems. Enhancements to AIR ImportExpress decrease the time and system resources required to import data by up to 50 percent. AIR also has introduced a new utility that allows users to import easily non-AIR exposure data files in Version 9.5 of CLASIC/2.
A new geocoding engine is available for CLASIC/2 and CATStation that offers improvements to processing speed while maintaining the accuracy of the geocoding results. Version 9.5 of CLASIC/2 includes performance improvements that will reduce U.S. hurricane model analysis times by up to 40 percent.
AIR has enhanced CATRADER, the industry standard for analyzing catastrophe reinsurance and alternative risk transfer options. In addition to traditional reinsurance contracts, CATRADER is used to manage alternative risk transfer options such as industry loss warranties, catastrophe bonds, and collateralized debt obligations.