Welcome to Oasis
Catastrophe models have matured significantly within the last 20 years and within the Re(In)surance sector are now essential tools for risk selection, pricing, assessing capital adequacy, and measuring profitability. During this time though the model marketplace has until recently remained essentially unchanged.
Barriers to entry restricted the ability of the insurance community to exploit large elements of available research in hazards and vulnerability. Costs for hardware, software, and staff who understand the models are still increasingly prohibitive which, in turn, limits the ability of buyers, brokers and carriers to make risk assessments and seek alternative views and approaches.
What we are generating is an open marketplace for models and data leading to much wider access to understandable tools for catastrophe risk assessment. This will allow for Governments, corporations and eventually individuals to benefit from the market place and functionality that we have enabled.
Since it was established in September 2012 with support from the Insurance Industry, Innovate UK and Climate KIC, Oasis has grown to over 40 Insurance members and over 60 associate members. It has produced an agnostic plug and play kernel that has very fast speed, great flexibility and multiple deployment options.
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