Reinsurance Solutions Intermediary Services (RSIS)
Reinsurance Solutions Intermediary Services (RSIS) has partnered with industry-leading specialists in natural catastrophe risk modelling to offer its insurance clients across the continent peace-of-mind reinsurance protection and risk management.
The natural catastrophe perils covered by RSIS and its new partners include earthquake, flood, hail and cyclone, all modelled within the African context.
These partners include Cat Risk Solutions, which has extensive knowledge of and experience in earthquake modelling for clients across Africa.
“Cat Risk Solutions has experience in structural earthquake engineering, engineering seismology, probabilistic and statistical methods in natural catastrophes. It is renowned for developing one of the first earthquake models to be widely accepted in South Africa,” explains RSIS CEO, Cameron Cupido.
For cutting-edge flood risk modelling, RSIS has partnered with JBA Risk Management. The company boasts extensive knowledge on flood risk as the global leader in the provision of flood risk intelligence to the re/insurance market.
“JBA’s modelling allows for both reinsurance purchase adequacy and primary underwriting risk selection for cedants. It has a flood model for every single African country, underscoring its position as the preferred flood risk modeller on the continent,” Cupido adds.
Two specific regional risks RSIS can now cater to through its new partnerships is hail in South Africa and cyclones in Mauritius.
QED has a footprint across the continent. Its bespoke risk management expertise includes a geospatial approach to hail risk modelling for the South African market, while Core Logic has developed one of the very few cyclone models available focused on the Indian Ocean islands market.
“QED boasts a technically competent actuarial and data science team, with modelling experience both in South Africa and across the rest of Africa. It also provides a wide range of consulting services, which include support on reinsurance purchases,” says Cupido. “Core Logic has years of experience in risk management and model development across the globe, and brings this much-needed cyclone risk modelling capability to Africa.”
Regional re/insurers wanting to move into Southern African countries can now do so with confidence, knowing that through RSIS and its strategic risk partners, accurate, comprehensive regional risk modelling is now available for their growing re/insurance businesses.