Global catastrophe modelling firm JBA Risk Management has become the first flood modeller to integrate its probabilistic models onto the Boat Oasis platform – the catastrophe risk modelling shared service built on the Oasis Loss Modelling Framework.
The leading provider of flood modelling and analytics to the insurance and reinsurance industry has joined forces with Boat Oasis to offer a cost-effective solution for companies looking to better understand their flood risk.
JBA’s United Kingdom, Italy, Continental Europe, Thailand, India, Sri Lanka and Vietnam probabilistic flood models are available via the open architecture facility.
JBA Risk Management’s Director, Jane Toothill, explains:
“There is a growing awareness that it’s important for global insurers and reinsurers to consider multiple views of risk. The Boat Oasis initiative enables companies to benefit from the knowledge of a far wider range of organisations than was previously possible. JBA’s collaboration with Boat Oasis helps provide the market with access to a range of high quality, fully transparent flood models via a robust, secure and cost-effective platform.”
The Boat Oasis shared service platform offers a flexible, scalable and secure catastrophe modelling shared service via a hosted and fully managed environment. It is delivered by Boat Services Ltd, a UK subsidiary of Cinnober.
Jamie Khurshid, CEO of Boat Services Ltd, adds:
“We are delighted to offer JBA’s range of flood models on our secure shared services platform. This demonstrates our dedication to expand the Boat Oasis platform and offer the (re) insurance industry a better understanding of risk globally.”
Oasis Chief Executive, Dickie Whitaker, adds:
“Oasis was designed to help save costs and encourage new entrants into the market as efficiently as possible. We are therefore pleased to see this collaboration between JBA Risk Management and Boat Oasis which should benefit all.”
JBA Risk Management is a long-established leader in flood risk, specialising in providing high resolution flood hazard maps globally, models and analytics to the insurance and reinsurance industry.
Its high-resolution hazard maps are available for licensing and used to create detailed flood models, enabling a consistent view of risk across the risk transfer chain, from underwriting and risk selection to reinsurance.
Its flagship UK probabilistic flood model is the only one to cover river, surface water and coastal flood in both Great Britain and Northern Ireland. It will be the first flood model available on the Boat Oasis platform from September 2017.
