Malayan Insurance Enhances Natural Catastrophe Analytics with Moody’s RMS Risk Modeler

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Malayan Insurance
Published
May 28, 2024
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Noida – March 2024 – Malayan Insurance Co., Inc. (“Malayan Insurance”), one of the leading non-life insurance providers in the Philippines, announces that it has licensed Moody’s RMS® Risk Modeler™ to help enhance its natural catastrophe risk analytics. This move by Malayan Insurance demonstrates its commitment to developing in-house capabilities, and to build on its position as one of the leading natural catastrophe insurers in the Philippines – and across Asia.
Gaining a comprehensive view of risk requires understanding risk across all regions and perils, and different model frameworks. By using data-driven modeling and advanced analytics, Risk Modeler, an application on the cloud-native Intelligent Risk Platform™ will assist Malayan Insurance to better understand potential risks, make informed decisions, and reduce the likelihood of losses.
xxx, yyy at Malayan Insurance, said: “The risk landscape across the Philippines is continually changing, and becoming increasingly challenging, due to issues such as insurance penetration, regulations and of course, the natural catastrophe’s that the region is prone to. But as the science and understanding of catastrophes grow, the technology to help understand and analyze these events also evolves. Working with partners such as Moody’s RMS further enables Malayan Insurance to continue to deliver the high standards of customer service and solutions that all our clients know and expect from us.”
Andrew Hare, Managing Director, APAC, Moody’s RMS, said: “We are delighted to partner with Malayan Insurance as they adopt Risk Modeler. In navigating the complexities of a rapidly evolving market, (re)insurers require deep insights that offer faster analytics, deeper insights, and more efficient workflows to enhance underwriting, risk transfer, and pricing decisions. We are confident that by harnessing the capabilities of Risk Modeler, Malayan Insurance can help their customers to elevate their risk management strategies, make better-informed decisions, and ultimately drive business growth.”
About Malayan Insurance
Malayan Insurance Co., Inc., a member of the Yuchengco Group of Companies, is the Philippine’s’ leading non-life insurance provider, ranked number one in Gross Written Premiums Written (GWPW) by the insurance Insurance commissionCommission.. It is a member of the Yuchengco Group of companiesCompanies. Offering peace of mind to its client and the public for almost a century since its inception in 1930.
Receiving favourable ratings from A.M. Best, an established and respected insurance rating source, for almost a decade; and achieving awards such as Domestic General Insurer of the Year, New Insurance Product of the Year (2023) by Insurance Asia.
Malayan Insurance is authorized by the Insurance Commission to underwrite a vast number of non-life insurance products such as: Aviation, Engineering, Fire/Property, Residential Fire, Motorcar, Marine, Personal Accident, Miscellaneous Casualty, Travel Insurance, and Bonds/Surety
For more information on Malayan Insurance, visit www.malayan.com
About Moody’s RMS
Moody’s RMS shapes the world’s view of risk for insurers, reinsurers, financial services organizations, and the public sector, with Moody’s RMS models underlying the nearly US$2 trillion property and casualty insurance industry. Moody’s RMS empowers organizations to evaluate and manage global risk from natural and man-made catastrophes, including hurricanes, earthquakes, floods, climate change, cyber, and pandemics.
Moody’s RMS helped pioneer the catastrophe risk industry and continues to lead in innovation, unmatched science, technology, and 300+ catastrophe risk models. Organizations can address the risks of tomorrow with the Intelligent Risk Platform™, the only open cloud with collaborative applications and unified analytics that can power risk management excellence.
Further supporting the industry’s transition to modern risk management, in 2020, Moody’s RMS spearheaded the Risk Data Open Standard (RDOS), a modern, open-standard data schema designed to be an extensible and flexible asset within modeling/analysis systems.
In 2021, Moody’s Corporation acquired Risk Management Solutions, Inc. and as part of Moody’s Analytics, Moody’s RMS serves the P&C insurance industry as the leading provider of expertise, science, and technology in integrated risk. A trusted solutions partner, Moody’s RMS enables effective risk management for better business decision-making across risk identification and selection, mitigation, underwriting, and portfolio management.
