Catastrophe & Risk Solutions

Model Exchange: A Catastrophe Risk Modeling Ecosystem

Formerly Nasdaq Risk Modelling for Catastrophes (NRMC), Model Exchange is an open ecosystem risk model platform that gives insurers, reinsurers, and brokers unprecedented access to catastrophe risk modeling capabilities from 300+ third-party providers. Evaluate exposures in underserved markets, compare alternative views of established perils, and address the global insurance protection gap.

Expanding access to insurance risk modeling for global resilience

Increasingly severe natural catastrophes, growing impacts of climate change, and shifting regulatory mandates place mounting pressure on insurers, reinsurers, and brokers to quantify exposure in new markets and improve resilience to catastrophe risk. Traditional approaches leave vast regions underserved: emerging markets lack robust catastrophe risk modeling, specialty perils need localized hazard risk data, and comparing multiple model perspectives requires complex vendor relationships and disparate platforms. Model Exchange solves these challenges by creating an open marketplace for insurance risk modeling, enabling insurers, reinsurers, and brokers to price coverage more accurately, quickly assess new market opportunities, and lower their risk of unexpected losses.

Transparent catastrophe risk modeling

Model Exchange establishes common standards for encoding, transferring, and interpreting hazard risk data. Compare multiple model views of the same risk, validate internal assumptions, and select the catastrophe risk modeling approach that aligns with your risk appetite and underwriting strategy.

Future-proof your investment

New models for new territories and perils are continuously added. As climate patterns shift, new perils emerge, and markets evolve, Model Exchange ensures you always have access to current insurance risk modeling software without the cost and complexity of managing multiple vendor relationships.

The industry's widest array of insurance risk models

300+ models available through a single insurance risk modeling software platform give you unparalleled access to niche views of global risk. Evaluate exposure in markets that major modeling firms don't cover, compare regional specialist models against global vendor perspectives, and access specialized hazard risk data.

Evaluate different views of risk with flexible insurance risk modeling software

Run the same portfolio through multiple models to understand the range of possible outcomes, validate your chosen approach against alternatives, or apply different models to different segments of your book based on demonstrated reliability. This analytical flexibility, delivered through a unified risk model platform, can transform how you approach catastrophe risk modeling decisions.

Powered by the Oasis Loss Modeling Framework

All our models follow the industry standard for open-source catastrophe risk modeling, promoting model innovation and efficient deployment.

Optimized data performance with expert support

Maximize your data’s performance by outsourcing tasks like cleansing, validating, and modeling.

Support to identify gaps and cover unmodeled exposures

Ensure there are no unmodeled exposures in your business.

Related resources

Stay informed about important industry trends, emerging markets, and innovative catastrophe risk modeling solutions. Explore our library of resources on expanding insurance access, leveraging hazard risk data for underwriting decisions, and maximizing the value of our open ecosystem risk model platform.

Resources

Extreme Event Solutions Client Portal

Access client-confidential downloads, training, and documentation for Verisk’s Extreme Event Solutions model, software, and service offerings.

Brochure

Modeling Extreme Event Risk

Fortunately, extreme events are rare. But it is exactly their rarity that makes estimating losses from – and preparing for – future catastrophes so difficult.

Download the brochure

Report

Modeling Insured Catastrophe Losses: A Global Perspective for 2024

This report examines global loss metrics based on Verisk’s latest suite of models, providing a global view of risk.

Download the report

Do more with the Verisk ecosystem

Model Exchange integrates seamlessly with Verisk's Catastrophe and Risk Solutions to deliver comprehensive risk modeling capabilities. Combine third-party models with Verisk's proprietary catastrophe models, exposure management tools, and portfolio analytics for a complete view of your global risk. Leverage our consulting services to interpret results, validate model selections, and optimize your insurance risk modeling strategy across established and emerging markets.