Apr 2019

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Product Bytes

Source: Asia Insurance Review | Oct 2016

Singapore : Etiqa’s “Reach Safe” campaign encourages phone free driving 
With the hopes of raising awareness that phone usage while driving is 23% more dangerous than drunken driving (Source: US National Highway & Transport Admin), Etiqa has launched an innovative magazine ad insert, which also acts as a first-of-its-kind safe mode phone pouch. 
   The new “Reach Safe” campaign by the company, developed with advertising agency Y&R Singapore, kicks off by pointing to the dangers of phone usage while driving, and helps prevent it with a giveaway pocket made from a special polymer that puts phone into safe mode. Putting the phone inside the pouch automatically triggers safe mode, preventing any calls or text messages from going through. Upon removal, all phone settings are immediately restored. 
How to use the Etiqa Safe Mode Phone Pouch
AIR Worldwide expands terrorism model globally
Catastrophe risk modeler AIR Worldwide has expanded the capabilities of its terrorism risk model to support scenario testing for the US and 27 other countries to help companies assess the impact of different attack scenarios on their portfolios and for the better management of their global terrorism risk.
   AIR’s Touchstone 4.0 platform enables companies to conduct a terrorism risk assessment for estimating losses to property and workers’ compensation policies from defined attack scenarios. Using the platform, users can create their own potential scenarios, testing the impact of weapons such as a truck bomb , on a property from within their portfolio or any user-identified target. 
   In addition, AIR has developed damage functions to help companies understand the impact on their insured exposures given the size of the blast and urban density indices.
Global: RMS launches new exposure management solution
RMS, a global catastrophe risk management firm, has released Exposure Manager, its new exposure analytics solution designed to enable (re)insurance companies to maximise value from their exposure 
   The exposure analytics solution, which is the first to be released on the RMS(one) platform, has been developed to give firms a much clearer view of their risk accumulations for better volatility management.
RMS has integrated its flagship Financial Model, used by its catastrophe models, into Exposure Manager, enabling the software to deliver a consistent view of risk across an organisation. The Exposed Limit metric, produced by Exposure Manager, provides both complementary and consistent perspective to the output generated from risk models. This consistency helps to increase a firm’s confidence when submitting modelled and non-modelled numbers to external stakeholders. 
   The product is now available to all insurance and reinsurance firms and brokers.
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