Modeling firm AIR Worldwide says that it is issuing an update for two of its catastrophe risk management systems that will give insurance linked securities (ILS) managers and risk managers additional insight into existing contracts.
Boston-based AIR says that it is issuing CATRADER Version 11.5 which allows companies to manage multiple portfolios that have a multiple reinsurance contracts, ILS, sidecars, and private placements.
The update to CATRADER will also allow managers to measure the risk of reinsurance and ILS contracts over multiple years and include an enhanced reporting functionality that will allow for dynamic filtering by contract, peril, and region.
“Now, investors and reinsurers can more easily assess the impact of new investments or contracts on their existing portfolios to maximize return on investment,” said Uday Virkud, executive vice president at AIR in a press statement.
The firm also announced updates to its CLASIC/2 application that will allow importing and exporting of exposure data in the ACORD U.S. Property Binding Authority Standard.
The CLASIC/2 update will also include a streamlined catalog of events for China earthquake and typhoon as well as Japan earthquake.
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