AIR Enhances Cat Models

November 2, 2007

Boston-based AIR Worldwide Corporation has released the latest version of its “CLASIC/2™, CATRADER® and CATStation® “catastrophe risk management systems. The new version 9.5 “features import, analysis and export enhancements that significantly improve performance and ease of use,” said the bulletin.

“As the demand for catastrophe modeling grows, there is a greater need to perform reliable analyses in a shorter period of time,” noted Uday Virkud, P.E., senior vice president at AIR Worldwide. “Today, catastrophe model users need to run detailed analyses and view their results in multiple ways to better understand their underlying catastrophe risk. In this release, we have focused on performance improvements so that our clients can derive the maximum benefit from our models during the short reinsurance renewal period.”

An important feature of the new model “decrease the time and system resources required to import data by up to 50 percent,” said AIR. Version 9.5 has also introduced a new utility that “allows users to easily import non-AIR exposure data files in of CLASIC/2. ”

The enhancements to AIR’s CATRADER, which analyzes catastrophe reinsurance and alternative risk transfer options, include features that handle “catastrophe bond portfolios, including those containing instruments based on the Carvill Hurricane IndexSM (CHISM). In addition, CATRADER enables the user to model CHI-based transactions by including the CHI value for each simulated event.”

Source: AIR Worldwide –

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