Boat Services strengthens Cat Risk Modelling platform, with the integration of TigerEye, the industry leading pricing and portfolio management platform from Applied Insurance Technologies, a Subsidiary of TigerRisk Partners.
On the 20th of July 2017, Boat Services announced the availability of TigerEye on Boat Oasis, the multi-peril cat risk modelling platform. Boat Oasis works with independent model providers, including ARA, COMBUS and CATRisk Solutions, to provide an independent, transparent and secure platform for (re)insurers to consume models.
TigerEye, the pricing and portfolio management platform, is the first external analytics platform to integrate with Boat Oasis, and is now available to clients to help maximise performance and enrich portfolios.
“We’re very excited to bring TigerEye’s industry leading reinsurance pricing and portfolio management capabilities to the Boat Oasis platform” – Vladimir Kostadinov, Head of TigerEye Business Development.
TigerEye allows firms to leverage the full power of any vendor models to gain a robust picture of the underlying risk exposures and creates optimal risk to capital solutions. It enables firms to use modelling outputs to drive business decisions by answering questions such as “should we write this risk?”, “is this price acceptable”, and “how does this impact my portfolio” and provides responses within minutes.
“TigerEye is absolutely the right solution for the market and we couldn’t be happier to offer the tool to our clients. Boat Oasis was formed to provide the (re)insurance industry with a deeper understanding of risk and the integration with TigerEye helps us do exactly that” Says Jamie Khurshid, CEO of Boat Services.
The integration with TigerEye will work seamlessly as TigerEye is model agnostic, facilitating data import from any vendor model or non-modelled losses describable by any actuarial distribution.
“Integrating TigerEye with the Boat Oasis platform is a great example of collaborative work between model vendors in our industry. Having TigerEye available on Boat Oasis benefits the insurance industry by providing a wholistic turn-key solution for multi-vendor catastrophe modelling and portfolio management” – Jayant Khadilkar, Global Head of Analytics and Technology at TigerRisk.
Boat Oasis delivers a flexible, scalable and secure catastrophe modelling shared service via a hosted and fully managed environment and is operated on the Oasis Loss Modelling Framework (LMF). The platform was designed to be highly accessible and to easily deliver new and existing models to the market. The service is delivered by Boat Services Ltd, a UK subsidiary of Cinnober.
Formed in 2008, TigerRisk Partners is a privately-held reinsurance broker and risk/capital management advisor with a selective list of current and prospective customers. We focus on challenging the status quo where both customers and reinsurance partners benefit from our market knowledge and innovative analytical platform.
With the industry undergoing a fundamental change, major insurers and reinsurers need an intermediary capable of understanding and optimizing their risk profile. TigerRisk provides clients with consistent senior level attention while delivering thought leadership, decision-making analytics, and innovative solutions through market cycles.
Established in 2014, Boat Oasis delivers a flexible, scalable and secure catastrophe modelling shared service via a hosted and fully managed environment. Boat Oasis provides (re)insurance companies with the platform to gain a deeper understanding of their risk by accessing the best models from large and niche risk modelling providers around the world.
This innovative offering represents a paradigm shift for catastrophe risk loss modelling within the global insurance industry, while bringing the reputation for excellence, reliability and quality from Cinnober’s traditional market within financial services.
In 2014, Boat Services Ltd were approached to assist with the initial client evaluation that was successfully completed the following year. As of December 2016, Boat Services Ltd brought the Oasis LMF platform to market.
Oasis is a global not-for-profit company limited by guarantee and owned by its 40 members who come from within the insurance and reinsurance community. Its mission is to create and foster links throughout the wide community of those interested in modelling catastrophic risk across business, academia, and government.
Boat Services Ltd was founded in 2007 in response to the regulatory pressures introduced when MiFID was implemented. Boat offered MTFs, SIs and investment firms an easy and cost-efficient way to comply with the new transparency obligations. Ever since, Boat has operated with exceptional uptime, and is the trade data monitor (TDM) with the most comprehensive offering of reportable instruments, including more than 10,000 stocks and ETFs across Europe, the Swiss and Russian markets.
After acquisition by Cinnober in 2014, Boat Services Ltd expanded its product offerings to include TRADEcho and LBMA-i for finance and Boat Oasis for insurance.