| In This Issue
|
| Featured WebEx: Virtual MGA
& RiskMeter |
| Important EQECAT Earthquake
Updates |
| Thousands of Sinkholes Added
to Clearinghouse |
| SC Beach & Coastal Windpool
Update |
| Archived WebEx Events
|
| FEMA Flood Map Updates
|
| What Reports Does the RiskMeter
Online Offer? |
| Upcoming Events
|
| Online Training Schedule
|
| New Customers & Partners
|
| New Integrated Customers
|
| Unsubscribe
|
| |
Featured WebEx: Virtual
MGA and RiskMeter Online
Integration
|
|
On Wednesday, June 9, 2010
at 2PM (EDT) Virtual MGA and RiskMeter
Online will unveil Virtual MGA's integration of
RiskMeter into its dynamic risk placement
platform.
For those of you who aren't
familiar with Virtual MGA, they are leaders in
providing web-based risk placement platforms;
specializing in the Lloyd's market, as well as
serving the broader E&S markets. Through
this partnership, it's now possible to pre-fill
and validate natural hazard risk data directly
into the rating engine component of Virtual MGA's
risk placement platform. This enhanced
accuracy has implications for everything from
driving rating rules, requirements and form
output, as well as, bordereaux reporting and
accurate aggregate assignments.
In the
Property & Casualty insurance industry, many
risk factors are related to the location of a
piece of business.
Unfortunately, for
many Lloyd's brokers, MGAs and retailers, a large
amount of their time is spent checking natural
hazard risk by using various third party vendors,
making phone calls or trading Emails. We've
streamlined the underwriting process by eliminating unnecessary
steps that will enable Virtual MGA users to quote
and bind business much faster. Virtual
MGA is excited about bringing RiskMeter's
functionality to its clients because it reduces
the back and forth cycles writing business.
Furthermore, it helps to solve issues associated
with the ambiguities in rating and binding brought
about by "guesswork" in the data input process.
Although underwriting automation helps
organizations to quote and bind business much
faster, it also requires IT departments to take on
another onerous project. One great advantage
of this partnership is that the most difficult
work has been completed. With very little
programming, you and your trading partners are
able to hit the ground running with access to RMS'
leading natural hazard risk reports.
Registration
Information
We have a limited number of
seats for this event. To secure your spot,
please go here. For more
information, please contact Val Feeney, Business
Partnership Manager at 617.737.4444or
vfeeney@cdsys.com
|
| Important EQECAT
Earthquake Updates |
|
RiskMeter has recently
updated the Earthquake service we use from
EQECAT. If you're not familiar with EQECAT,
they are
one of the leading EQ modeling
firms. Originally EQECAT built software
specifically for RiskMeter so data could be
quickly pulled from their EQ
model. Unfortunately, there wasn't an easy
way for EQECAT to update the software and data
they provided. Due to this, their earthquake
data hasn't been updated in several
years. RiskMeter is now leveraging new
software, which interfaces directly with their
main product line, WorldCat Enterprise. This
means that when EQECAT updates their data and
models (usually yearly), our information will be
updated as well. We consider this a significant
improvement! Currently, we are using their newest
model, version 3.13
This update has brought
us additional capabilities. We can now
provide Annual Average Loss (AAL)
and Probable Maximum Loss (PML)
for earthquake peril! The service is very
fast, generally returning data in about 15
seconds!
Customers who use the current
Quick Quake-Assess
(QQ Assess) and Quick Quake-Score (QQ Score)
will notice some slight changes. The fields
returned are not exactly the same. The QQ
Assess will be replaced by the EQE Ground Shaking
Report and the QQ Score will be replaced by the
EQE EQ Score. The QQ Assess and Ground
Shaking Report are very similar. Key
components, such as the distance to fault, soil,
and MMI Scores (for 100, 250 and 500 years) are
still returned. The new EQECAT EQ score is
slightly different. First, the new score is
on a scale from 1-10, rather than 1-6. Also,
primary modifiers (yr. built, number of stories
& buildings, construction & occupancy) are
required. This allows us to give a more
accurate score, as it takes into account how the
building will respond to
shaking.
We are hoping to switch
all of our online customers to the newer data on
June 1, 2010. If you have any
questions or
issues, please contact Ryan
Turgeon at rturgeon@cdsys.com or
617.737.4444 |
| Thousands of Sinkholes
Added to the CDS Sinkhole Clearinghouse
|
|
This winter has been a very
active one for sinkhole claims. We have seen
unprecedented interest in finding ways to
identify sinkhole prone areas and to mitigate
sinkhole claims. RiskMeter continues to make
important progress in this
area. Our goal
is to have the most complete sinkhole database for
Florida. Currently, we are in the process of
expanding
our sinkhole clearinghouse, by
adding data from county clerks' offices and other
sources from the Florida counties most affected.
We have added
thousands of confirmed sinkholes to our
clearinghouse in the past month by incorporating
this data. RiskMeter users can opt-in to
use this data if they wish, or they can also
choose not to use it. RiskMeter will be
contacting participating carriers to see if they
would like to use these records. If you would
like more information, please contact Dan Munson,
Founder, RiskMeter at 617.737.4444 or
dmunson@cdsys.com
|
| SC Beach & Coastal
Windpool Update |
|
We've confirmed with the
South Carolina Hail and Underwriting Association
that the expanded windpool territories from
several years ago are still up to date.
Originally, they were set to expire on March 29,
2009 but the Director of Insurance signed an order
maintaining the status quo. We will continue
to monitor this situation and pass along any new
developments. For more information, please
contact Jamie Munson, Director of Consulting
Services at 860.854.6125
or
jmunson@cdsys.com
|
| Archived WebEx Events
|
|
In order to help our users
gain a better understanding of RiskMeter's tools,
models and reports, we hold weekly training
sessions and monthly featured events. We
have archived some of these events for those of
you who couldn't attend. Some of the events in our
archive include recent featured events, such as
RMS Data &
Analytics, Flood Elevation
and Storm
Surge. In addition, we have also
archived our National and Western risks training
sessions. If you wish to view one of these
archived events or to set up a private training
session, please contact Ryan Turgeon at 617.737.4444 or
rturgeon@cdsys.com
|
| FEMA Flood Map Updates
|
|
New developments, topology
and changes in the environment, all have an affect
on how areas flood. RiskMeter's number
one priority is to give its users access to
the best and most up-to-date flood data.
That's why our flood information
is refreshed
on a monthly basis. During the course of the
year FEMA will
issue roughly 12,000 - 18,000 map
revisions,
which will be digitally
updated on the RiskMeter Online. To see our
latest map revisions, click here.
Why Use RiskMeter to
Check for Flood Zones?
There are many
things an insurer should know about flood
maps. First, FEMA does not have digital
copies of all of their
flood maps. We
do. In addition, many of the digital GIS
maps shown on FEMA's web site are out of date.
With their
flood
mapping program, much of the data referred to is
"Q3 data", which is more than 10 years
old! So be careful! Since FEMA
issues so many updates during the course of the
year, using data that is outdated can be very
risky to use for underwriting and pricing
purposes. Secondly, with RiskMeter's flood
reports a determination is made for you, so
there's no map interpretation required.
Also, with our mapping technology, we allow you to
overlay flood maps (and other hazards) right on
top of the aerial photo. For larger risks,
this feature can help you to understand what parts
of the facility or which buildings are in flood
zones.
How
Batch Processing Can Help
If an area
that you write business in has been updated, an
easy way to check your flood zone exposure for a
book of
business is by leveraging our Online
Batch feature. For those of you who aren't
familiar with the RiskMeter Online Batch
(ROB)
service, it allows users to run multiple addresses
or schedules, without the need to type in each
address individually. RiskMeter's batch
feature enables users to upload a file and get the
results emailed back in spreadsheet form anytime,
anywhere.
For more information on
our Flood reports, please contact Daniel Munson,
Founder, RiskMeter Online at 617.737.4444 or
dmunson@cdsys.com
|
| What Reports Does
RiskMeter Online Offer? |
|
| As you may know, the
RiskMeter Online continues to add additional
reports as we see a need. We have recently
added reports like storm surge, wind speed maps
for additional states, online batch tool and new
background images. We also know that your
needs change over time, as you add lines, enter
new states or refine your underwriting guidelines.
To see a complete list of
reports, please view here.
If you need additional information or would
like to test drive a report for free, please
contact Ryan Turgeon at
617.737.4444 or rturgeon@cdsys.com |
| Upcoming Events - Meet the
CDS Team! |
|
| RiskMeter Online will be
attending or exhibiting at the following upcoming
conferences. Whether you're a customer or
prospect, we'd love to meet with you onsite at
these exceptional events! Don't hesitate to
stop by our booth or if you wish to schedule an
appointment, please contact Daniel Munson
(dmunson@cdsys.com) or Bradley
Sherwin (bsherwin@cdsys.com) at
617.737.4444
Duck
Creek Insurance Forum
May 3-6, 2010 *
Charleston, SC
IMUA Annual
Meeting
May 16-19, 2010 * Williamsburg,
VA
AAMGA
Annual Meeting
May 23-26, 2010 * Palm
Desert, CA
Acord LOMA Insurance
Services Forum
May 24-26, 2010 * Las
Vegas, NV
FAIA Annual
Convention
June 24-26, 2010 * Orlando,
FL
|
| Online Training
Schedule |
|
|
In order to help you utilize the RiskMeter
Online more effectively, we are now offering
complimentary training to all of our
customers. This is a great way for your
organization to have its most pressing questions
answered, learn about the latest risk reports and
discover how to utilize cutting-edge features,
such as: Birdseye Geocoding,
One Click Ruler and
Manual Placement.
To attend any of the complimentary training
sessions, please register here or to to attend one of
our featured WebEx events, please register at one
of the links below. National
Risks
Wednesday, April 28, 2010
2:00 PM - 3:00
PM (EDT)
Western Risks
Wednesday, May 5, 2010
2:00 PM - 3:00 PM (EDT)
National Risks
Wednesday, May 12, 2010
2:00 PM - 3:00 PM (EDT)
Western Risks
Wednesday, May 19, 2010
2:00 PM - 3:00 PM (EDT)
National
Risks
Wednesday, May 26, 2010
2:00 PM
- 3:00 PM (EDT)
Featured WebEx:
Virtual MGA Integration
Wednesday, June 9, 2010
|
| New Customers &
Partners |
|
|
Carriers
- Alfa Insurance Group
- American Safety
- Companion Property & Casualty
- Great American Insurance Company
- OneBeacon Energy
- Universal
MGAs/Wholesale
Brokers
- Dennis Clayton
- Energi Insurance Services, Inc.
- Gabor Insurance Services
- National Insurance Underwriters
Agents & Brokers
Other
Partners
|
| RiskMeter Integration
|
|
RiskMeter is excited to
announce that the following companies have
integrated the RiskMeter into their underwriting
and quoting systems.
As you know, there
is a big trend towards straight through processing
and making it easier to do
business. Integrating the RiskMeter into
in-house or 3rd party quoting and underwriting
systems is easy! Dozens of companies have already
integrated with the RiskMeter Online, and we're
working with our vendor partners to bring RiskMeter
functionality into off-the-shelf quoting and
underwriting systems as well. To learn more
about integrating the RiskMeter Online into your
underwriting system, please contact Val Feeney,
Business Partnership Manager at 617.737.4444or
vfeeney@cdsys.com
|
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|
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