Ty Sagalow assesses the impact of new Oasis Loss Modeling Framework on Product Development

Oasis Loss Modeling Framework unveiled a significant development in the modelling of natural catastrophes. With plug-and-play components, it promises to promote the creation of internal models, support reinsurance negotiation and regulatory compliance, and cost reduction.

Ty Sagalow, president of Innovation Insurance Group, and host of WRIN.tv’s Innovations in Insurance explains what this means to existing risk models, and future developments in the modeling space. He says the Oasis framework will enable member insurers, reinsurers and brokers to pool information in a cost effective way to meet regulatory requirements.