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ReMetrics
Benfield's ReMetrics team has long been a pioneer in developing risk modelling and specialist analytical services to help customers understand and address their risk management needs. Our worldwide ReMetrics teams provide a highly sophisticated quantitative approach to insurance and reinsurance purchasing and also to broader risk management issues.
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With more than 150 people world-wide, including actuaries, engineers, mathematicians and financial analysts, we provide consultancy services, qualitative and quantitative models and tailored risk products to enable our customers to meet their objectives. Our seamless combination of transactional capability, specialist skills and industry experience is unique.
Benfield's proprietary risk software, ReMetrica, gives us a very powerful capability in the areas of risk modelling including dynamic financial analysis and it allows us to build specific models to meet customer requirements. For example, in the hands of our Actuarial staff, ReMetrica can also be used for retention modelling and for the structuring of captive insurers' outward reinsurance programmes amongst other things.
Benfield is also a market leader in natural perils modelling. Through Benfield's sponsorship of different research organizations, such as the Benfield Hazard Research Centre (United Kingdom) and Risk Frontiers (Australia), the team also draws upon the advice and expertise of over 50 university researchers in all fields related to natural hazards.
As a holder of the Premier License from RMS and with access to EQECAT and AIR commercial catastrophe models reinforced by in-depth knowledge and practical experience of all these models, the Natural Hazards team can evaluate the underlying assumptions and limitations of the different models as well as provide detailed comparative analysis of the principal commercial peril models.
Benfield's Geographical Analysis Project (GAP) programs also provide information on exposures not covered in commercial analysis programs such as flood and windstorm for selected global areas.
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Engineering
Our engineering team, which consists of qualified engineers highly respected in the world's insurance markets, has practical industry experience in the design, construction, operation and maintenance of oil, gas, petrochemical and power generation risks. All of our staff has also been trained to assess and analyze risks and to develop practical solutions to solve problems.
We offer a range of services that includes but is not limited to:
- Risk Assessment Studies
- Business Interruption Analysis
- Site Benchmarking Studies
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Business Support Services
Making life easier for customers should be a fundamental part of any broker’s objectives - and industries that work across time zones do not need to be slowed down by reliance on people being in a specific office at a specific time just to answer straight forward queries.
Reflecting this, Benfield is continuously pushing back barriers by using the power of technology for the benefit of customers. This approach extends beyond our track record of being an early implementer of market initiatives to include our account administration, documentation and claims processes as well as specific bilateral initiatives with customers.
As part of the process of demonstrating the value of our propositions, we provide different levels of service, so offering low cost entry points at which to trial services. This enables us to introduce the concept of what can be achieved and allows for piloting of solutions that can become increasingly automated as they prove their worth.
Where customers have specific projects, Benfield also offers such facilities as collaboration websites for use in conjunction with project partners which are tailored and branded to a company's specific workflow needs.
A further demonstration of our capabilities in such areas came in 2004 when Benfield subsidiary, Paragon Strategic Solutions Inc, developed the Terrorism Risk Insurance Program (TRIP) Claims Management Facility and Statistical Agent Capability. This supports the treasury and insurers if an incident triggers the provisions of the US Government's Terrorism Risk Insurance Act (TRIA).
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 | Lloyd's Update - Reformation (15 July 2008)
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 | Benfield Bermuda Quarterly - First Quarter 2008 - Take the Strain (04 June 2008)
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 | Benfield UCL Hazard Research Centre - Alert 23 (14 May 2008)
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 | B14 - Industry Analysis & Research (02 May 2008)
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 | Benfield European Quarterly - Full Year 2007 - Waiting Game (30 April 2008)
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