Exact is an insurance exposure management system, allowing insurers to visualise and manage risk exposure across all lines of business quickly and easily. The system is not only a risk aggregation system but is designed to support underwriters in their decision-making process, through the provision of hazard and accumulation information at the point of underwriting.
Exact software combines the power of a market-leading risk aggregation engine and an advanced global mapping interface to deliver fast and accurate accumulation information and models, allowing exposure managers, underwriters and senior managers to make better, more informed underwriting decisions. A large and constantly increasing eco-system of third-party data sources across all lines of business allows exposure managers and underwriters to improve the profitability of their books of business through highly detailed understanding of risks, visualised in a clear, user-friendly manner.
- Enterprise-wide view of exposure across all geographies, lines of business, and business units
- Intuitive mapping interface allowing innovative visualisations of peril and other relevant information in the context of the enterprise’s risk landscape
- State of the art geocoding, with a choice of providers for different geographical regions
- Highly sophisticated deterministic exposure calculation engine
- Constantly increasing number of partnerships with third-party data providers
- Extensible data capture model
The immediate benefits Clients have found with Exact are :
- Ability to assess their entire portfolio exposure on all perils, in all global regions at the same time in a user friendly map interface.
- The ability to complete ‘What If’ scenarios using the map interface to assess what would have happened if an event would occur, or its direction or magnitude changed on their insured portfolio. An example Insurers found fascinating was the ease that they could adjust the course of Hurricane Matthew 100 miles west against their insured Miami and Gulf of Mexico insured assets.
- When assessing new risks, Insurers were able to quickly identify if this particular new risk would require them to purchase more Reinsurance through a colour coded Threshold monitor.
- No longer would Insurers have to manually key risk details, and complete manual exposure analysis. Exact enables both to be automated, and Insurers are notified when reports are ready, or when there is a risk of an event occurring which would breach agreed thresholds.
- Insurers wouldn’t remove their AIR / RMS probable exposure analysis , but in fact incorporate this analysis into Exact’s deterministic modelling technique to provide a centralised tool for exposure analysis across the business.