RMS Releases Underwriting Toolkit for the UK

Risk Management Solutions (RMS; Newark, Calif.) has announced the launch of its Underwriting Toolkit, a solution designed to help underwriters and pricing managers accurately assess and rate risk for individual buildings impacted by key United Kingdom perils, including flood, storm surge (coastal flooding) and windstorm.

The Underwriting Toolkit provides residential and commercial property underwriters with metrics derived from the vendor's catastrophe models, such as average annual loss, which can be incorporated within underwriting workflows for risk screening and rating. According to an RMS press release, the solution allows insurers to differentiate flood risk within a given postcode, allowing for more accurate risk calculations.

The toolkit can be accessed via a Microsoft (Redmond, Wash.) Excel interface with built-in mapping, or integrated directly into insurers' underwriting systems using Web services, RMS says.