RMS acquires hurricane-impact data service
Catastrophe risk management firm RMS has acquired HWind Scientific (HWS), a real-time hurricane-impact data service.
RMS said the acquisition marks its commitment to continue advancing the industry’s understanding and management of hurricane risk.
The risk manager will offer HWS products, including the leading H*Wind data, as part of its hurricane model suite.
“HWind Scientific's real-time hurricane monitoring and the scientific rigour of H*Wind data is unmatched in the insurance industry,” said Dr Mohsen Rahnama, head of model development at RMS.
“RMS has been licensing H*Wind for use in its hurricane models and event response services since the service first became commercially available in 2014. Now our union with HWind Scientific opens up an incredible opportunity for RMS to further advance our clients’ hurricane risk management, as well as develop future models and data that continue to strengthen the insurance industry’s management of hurricane risk.”
Dr Mark Powell, inventor of the H*Wind methodology and founder of HWind Scientific, has been appointed by RMS as vice president, model development.
He is joined by his team, who will continue to support the H*Wind products and services, as well as lead the integration of the HWS products into the RMS modelling suite.
Powell said: “My team and I are excited to incorporate our real-time and retrospective observation-based hurricane analyses with the RMS product offerings. HWind Scientific has become an industry standard for validating hurricane risk models, developing satellite extreme-wind remote sensing functions, and providing the forcing for storm surge and wave model forecasts, making the company a natural fit with RMS.
“With our combined strengths we look forward to introducing new products that have been in development over that past 18 months, including a revised high-definition wind analysis and footprint archive.”
Rahnama added: “Mark is recognised by the industry as an innovative scientific leader; and he and his team are a centre of excellence for hurricane science. Bringing their expertise in-house to RMS further strengthens our scientific research capabilities and creates opportunities for us to develop new hurricane solutions for our clients around the world.”
