OPEN XPOSURE - ONSHORE/OFFSHORE AGGREGATION

Open Xposure™ is a proven system in both the Lloyd’s and Companies’ markets and is the ideal solution for underwriters who need accurate, up-to-date land-based and/or offshore aggregations.

Benefits

Designed for you:-

• Open Xposure™ is designed by insurance professionals for insurance professionals
• The unique licensing and User Group structure guarantees that Open Xposure™ continues to work the way you want, regardless of changes in market practice

Maximise your resources and capital through:

• best use of available capacity and capital allocation
• effective reinsurance spend
• modelling the impact on the portfolio of alternative retentions
• responding to customer needs and developing opportunistic strategies
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Classes of Business

Open Xposure™ is used for all major classes of business including:-

• Property & Casualty
• Property Treaty & Binders
• Contingency
• Onshore Energy & Petrochemical
• Offshore Energy
• Cargo
• Personal Lines
• Terrorism

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Land-Based Exposures

For land-based properties, a comprehensive database of geographic locations provides the base for the entry and recording of large schedules of exposure information quickly and accurately.

Land-based exposure information can be entered at various levels:-

• Country
• State
• County
• City
• Zip/Postal Code
• Address
• Latitude/Longitude
• Cresta
• Cresta sub zone

This is then geo-coded for reporting, analysis and deterministic modelling purposes.

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Offshore Exposures

For offshore energy, a comprehensive database, (offshore platforms, pipelines, complexes, fields / blocks, mobile drilling rigs, coventurer interests, FPSOs), provides the base for the entry and recording of large schedules of exposure information quickly and accurately.

Exposure information can be entered at various levels:-

• Platform
• Complex
• Field
• Pipeline
• Area
• Latitude/ Longitude

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Automated Data Entry and Data Cleansing

Brokers are supporting their underwriting submissions with electronic data.

• Open Xposure™ provides a unique spreadsheet import tool that populates the database with this information, avoiding time consuming re-keying and encouraging granularity
• The intuitive import tool enables fast and accurate data recording direct from Broker submissions - without the need for pre-formatting of data
• The import tool has the unique ability to remember any changes made as the data errors are corrected, creating a database of alternate names. This additional database is then used to validate future location data, leading to a higher rate of validation success

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Catastrophe Modelling

Open Xposure™ fully supports the business requirement to export accumulation data to third party catastrophe modelling agencies such as RMS. The ability to feed third party agencies with highly detailed data results in very accurate and detailed aggregations taking PMLs into account.

Reporting and Enquiries

Flexible and comprehensive reporting and enquiry facilities are provided to aid the underwriting evaluation process, essential for:

• managing and controlling aggregates
• arranging outward reinsurance protections
• completion of regulatory requirements (i.e. Lloyd’s Realistic Disaster Scenarios)
• making best use of available capacity and capital allocation

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Mapping (GIS)

Using the integrated mapping facility, your live exposures can be viewed for:

• a particular client
• a line of business
• a particular policy

This integrated mapping facility allows for the following types of questions to be answered quickly and accurately:-

• Can I write more business in this area?
• What would Hurricane Andrew do to my current exposure profile?
• What are my “hotspots” in this area?
• How would a terrorist event involving the Empire State Building affect me?

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Coping with volumes

Open Xposure™ has responded to the growing complexity and time pressures within the insurance industry by:

• making the system quick and easy to use, thus releasing staff from administrative matters to concentrate on more important and higher value-added tasks
• innovative use of technology, enabling large schedules of exposures to be quickly and accurately uploaded automatically from spreadsheets
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Coping with complexity

Open Xposure™ has been developed with its users in mind. The system:

• moulds to your business and work practices
• does not require you to “bend” the data or the system to cope with your existing work processes
• records default PML’s (Damage Factors) against geographic locations, and allows them to be qualified further by the peril and class of business
• takes into account whether the policy limit, excess and deductible are to be expressed on an “each and every location” or “any one event” basis, crucial for accurate reserving
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Coping with changing circumstances

Underwriters are provided with a range of aggregated reports and enquiries to allow them to control and manage their portfolio. This involves the system processing huge volumes of data with varying loss scenarios thus providing information on worst case scenarios.

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Coping with regulations and managing the aggregates

Open Xposure™ can help ease your path through the complex web of regulations and compliance issues that affect your business allowing you to:

• base strategic decisions on strong positions that can be measured qualitatively and quantitatively
• present a clear position to regulators, policy holders and financial markets

This is achieved through the powerful reporting suite which provides portfolio analysis on a live “on-risk” or hypothetical “what-if” scenario basis by referencing information on historical natural disasters (e.g. storms, quakes, floods)
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Open Xposure™ means that underwriters have never been better placed to manage and control their aggregate exposures.

Current Client List

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