Best Risk Modelling Services Provider winner: RMS

RMS received praise for its responsiveness and its ability to always stay ahead of the game.

One respondent said: “RMS has always had the best science and its US products are easy to use.”

Another added: “They have the best practice around storm risk in Europe.”

Founded at Stanford University in 1988, RMS models and software are used by insurers, financial markets, corporations, and public agencies to evaluate and manage catastrophe risks throughout the world.

RMS is the world’s largest catastrophe modelling company, incorporating 25 years of dedicated catastrophe risk research and development, and regional expertise.

More than 400 insurers, reinsurers, trading companies, and other financial institutions trust RMS models to better understand and manage the risks of natural and human-made catastrophes, including hurricanes, earthquakes, floods, terrorism, and pandemics.

Other areas of commendation included the company’s leadership skills and efficiency.

AIR Worldwide, which came in a close second, was regarded for its commercial considerations and the high level of science behind its models.

As a pioneer of the catastrophe modelling industry back in 1987, AIR Worldwide today models risk from natural catastrophes and terrorism in more than 90 countries.

One respondent said: “AIR is respected for its high level of event reports and deep knowledge of natural science. The company is also well connected to the questions close at heart for a reinsurer.”

Reaching number three was EQECAT. A leading name in the sector, EQECAT was praised for its flexibility and the quality of its staff.

RMS received praise for its responsiveness and its ability to always stay ahead of the game. “RMS has always had the best science and its US products are easy to use.”

Slightly behind were GC Analytics and Impact Forecasting, gaining scores of 5.97 and 5.95, respectively. Both companies were praised for their competence and efficiency. GC Analytics accumulates the knowledge and perspective of nearly 300 professionals across all regions, product lines, and technical disciplines.

As part of global reinsurance broker Aon, Impact Forecasting has an in-depth knowledge of clients’ requirements within the industry, which was evident among respondents, with one commending the company for its close working relationship with clients.

The companies in the shortlists seen here were selected based on the first stage of the research, conducted via phone interviews and open online polls. Respondents were asked to name two companies they regard highly in this category. They were then asked to give details of why they had chosen these firms.

The shortlist for this category reflects the companies mentioned the most frequently.

The researchers then approached the market a second time and, using this shortlist presented in a random order, asked respondents to score each company out of ten based on how they perceive the quality of the products, services and expertise of each. It is the results of this part of the survey that are shown here.

More than 500 respondents took part in each part of the survey respectively.

The score shows the average score out of ten that each company received in stage two of the survey.

The shortlist was presented to respondents in a random order.