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Cinnober’s wholly owned subsidiary SimplitiumTM today announce they have signed an agreement with Guy Carpenter & Company, LLC to deliver a dedicated ModExTM catastrophe risk modelling solution.
ModEx is a fully independent and transparent catastrophe risk modelling platform for the (re)insurance industry, operating on the open source Oasis Loss Modelling Framework (LMF). The platform provides Guy Carpenter with a white-labelled modelling solution for the proprietary and third-party cat models it offers to clients.
Guy Carpenter, a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), is a leading global risk and reinsurance specialist with over 2,300 professionals in more than 60 offices around the world. The company helps its clients adapt to emerging opportunities and achieve profitable growth through a combination of specialised reinsurance broking expertise, trusted strategic advisory services, and industry-leading analytics.
Jamie Khurshid, CEO of Simplitium, commented: “ModEx both improves the availability of advanced catastrophe risk models and makes it easier for firms to use these models. The agreement with Guy Carpenter is a significant milestone for us and marks the first client using a dedicated and white-labelled ModEx service.”
Read more in the Simplitium press release here.
