6 July 2015 Insurance

Impact Forecasting launches updated Elements platform

Impact Forecasting, Aon Benfield's catastrophe model development team, has launched an updated version of its loss calculation platform.

With the launch of version 9.5 of Elements, Impact Forecasting has highlighted how working with third parties can bring new opportunities. This includes running third party models in Elements or using the platform to run models in various third party formats.

Adam Podlaha, global head of Impact Forecasting, said: “We are committed to exploring ways to make the most of catastrophe models by working together as an industry. The open and customisable Elements platform helps to mitigate the need for insurers to install and learn new systems when looking to implement new models. We are pleased that we can play a part in this trend for greater collaboration.”

Justin Butler, founder and chief executive officer (CEO) of Ambiental, added: “We chose Elements as it offers a highly customisable, easy-to-use, open and transparent platform which will helps users get up-and-running quickly. Their rigorous approach to back testing allows insurers to be confident in their underwriting and capital allocation decisions.”

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