RMS targets ‘immature’ Asian markets where use of cat modelling shows great growth potential

Many Asian markets are “immature” in terms of using cat modelling, and a lot of it has to do with the quality of data.

That was the view of Neil Isford, executive vice president, sales and client development at RMS.

“The market in Asia is enormous, the geography is very large, and the opportunities are multiple, so part of what we have done is try to figure out where to prioritise our investment,” Isford said.

“Japan is different,” he added. “We’re quite established there and we continue to work with our clients there, for example Tokio Marine Kiln.

“In the other markets, we’re going after major customers such as China Re or IAG.
“How do you go after the broader set of new customers? Part of our strategy is to leverage our analytical services team of around 400 people in India.”

He said RMS creates models for clients that provide the data, then gives them the reports. “We can do it quarterly or monthly, and can take the data in different formats.

“It’s a wonderful way into modelling for customers in Indonesia or the Philippines places where they don’t have the expertise,” he explained.