The Nasdaq (NASDAQ: NDAQ) just launched a new upgrade to its risk modelling service for the insurance industry on Monday, so that reinsurers can now access multiple catastrophe risk models on one cloud-native software-as-a-service (SaaS)-solution.
Currently focused on natural disasters from earthquakes to hurricanes to floods, a new upgrade to the Nasdaq Risk Modelling service aims to cover more broadly other insurance-related risks in the future.
This cloud-based SaaS system intends to enable insurers, reinsurers and brokers to unlock access to a broad range of best-of breed risk models from a number of providers through a single service. It was developed via an open source catastrophe modelling framework from the latest version of the
Oasis Loss Modelling Framework.