AIR unveils updated platform
Catastrophe modelling firm AIR Worldwide has released the latest version of its catastrophe modelling software platform Touchstone.
The latest version offers companies additional tools to test, compare, and modify model output to develop their own view of risk.
Touchstone 3.0 offers comparative loss analytics that allow companies to evaluate multiple sets of loss results simultaneously, including results between model versions, between different exposure sets, or using different policy terms. In the past, these comparisons had to be performed outside of the software.
It also includes access to “detailed hazard data for simulated events to give users even more insight into the drivers of loss and to further facilitate model validation as required by regulatory regimes such as Solvency II”.
Bill Churney, chief operating officer of AIR Worldwide, said: “Today, more than 120 companies are benefiting from the advanced capabilities of Touchstone for catastrophe risk analysis.
“With this release, AIR continues to execute on its technology road map by introducing important new functionality. With the new features and significant workflow enhancements, Touchstone version 3.0 offers even more flexibility, a broader range of analytics, and more efficient workflows to our rapidly growing client base.
“Next-generation catastrophe modelling is a reality; companies are seizing the opportunity now, not waiting, to perform more advanced analytics to better own their risk.”
