Software Upgrade Saves Risk Managers Time

Boston-based AIR Worldwide Corp., the developer of widely-used risk modeling systems, has released updates to three of its programs.

Its latest version 10.0 includes a number of significant software enhancements, such as the quicker importing of insurance-linked securities, storage and “querying of non-modeled, global exposure data,” the company says.

Moreover, the new versions of CATRADER, CLASIC/2 and CATStation catastrophe risk management systems have “substantially reduced run times,” it adds in a bulletin.

“CATRADER is the industry standard application for analyzing catastrophe reinsurance and insurance-linked securities,” says Uday Virkud, AIR’s executive vice president. “In this release, investors can easily import a new catastrophe bond, including the bond’s structure and any associated exposures, in a single step.

“This enhancement will significantly reduce data entry errors and time spent setting up new bonds,” he continues.

He notes that the upgrades will ensure risk managers can perform more varied and detailed analyses in shorter periods of time.

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