|Key people||Hemant H. Shah: President &
Stephen I. Robertson: CFO & Group Executive
Robert Muir-Wood: Chief Research Officer
Paul VanderMarck: Executive Vice President, Products
Peter Nakada: Managing Director, RMS Consulting
Bill Keogh: Group Executive, Global Client Development
Matthew Grant: Chief Markets Officer
|Industry||IT and Insurance|
|Products||Catastrophe Models and Insurance Services|
|Revenue||▲US $200 Million (2006)|
|Net income||▲US $40 Million (2006)|
Risk Management Solutions (RMS) is a provider of analytics and decision science solutions for the quantification and management of catastrophic risks throughout the world. RMS was named ‘Risk Modelling Agency of the Year’ 2002, 2003 and 2005 by Reactions, a leading re/insurance publication, and as part of the 2007 U.S. Insurer Awards, RMS was selected by readers as "Risk Modeling Firm of the Year".
Founded at Stanford University in 1988, RMS has become one of the world's leading provider of products and services for the quantification and management of catastrophe risks.
RMS grew rapidly in the 1990s, offering technology and services for the management of insurance catastrophe risk associated with natural perils such as earthquakes, hurricanes, and windstorms, as well as products for weather derivatives and enterprise risk management for the P&C insurance industry. In 1992 RMSI was founded in New Delhi, India as a joint venture with RMS, now a wholly owned subsidiary of RMS. In 1996 RMS opened its European Headquarters in London.
RMS opened additional offices in Paris, Madrid and Zurich. During this time RMS also became a leader in risk modeling for man-made disasters associated with acts of terrorism by analyzing the impact of weapons of mass destruction on property and people for many sectors of the insurance industry. RMS also developed significant expertise and leadership in modeling infectious disease risk for a range of pathogens.
RMS is headquartered in Newark, California with major offices in Hackensack, New Jersey and Peoria, Illinois. Its European Headquarters are based in London. RMS serves the global financial markets through its natural hazard risk modeling and consultancy businesses, with representation in all its offices worldwide. RMS employs 1,000 people in offices throughout the U.S., Europe, Japan and India.
RMS control and ownership remains independent of any individual or company in the insurance or reinsurance market.
RMS creates software to use in Catastrophe Modeling (Cat Modeling). The models and software developed by RMS analyze losses for the following catastrophes: earthquake, fire following earthquake, tropical cyclone (hurricanes, typhoons, and cyclones), extra-tropical cyclone (windstorm), storm-surge, river flooding, tornadoes, hailstorms, and terrorism.
RMS Consulting provides clients, typically insurance/reinsurance entities, with customized bespoke solutions and consulting resources to meet specific business objectives, normally managing catastrophe risks and securitisation of catastrophes. RMS Consulting leverages company-wide resources to structure and manage projects that complement its main catastrophe product offerings.
Services for the insurance and reinsurance sectors include property risk assessment analysis, casualty risk assessment analysis, reinsurance portfolio analysis, peer group and industry benchmarking, new business distribution analysis, and development of rates and loss costs.