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JCalf®

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In an increasingly competitive market, with diverse exposures and complex supply chains, managing catastrophe risk has never been more challenging for re/insurers. Balancing regulatory requirements and internal overheads whilst sustaining profitable growth is an imperative. To meet this challenge, JBA Risk Management is proud to present the JCalf® catastrophe modelling platform.

 

JCalf® facilitates probabilistic loss assessment to a range of natural hazard perils, with models covering 20% of global GDP. Evolved around a flexible and intuitive design, the platform caters for re/insurance conditions empowering exposure managers, underwriters, catastrophe modellers, and risk analysts to manage their risk. JCalf® handles all primary insurance terms and conditions, as well as facultative and treaty reinsurance. Users are able to report modelled results by site, policy, portfolio, coverage, line of business or any user-defined level of geography.

2020 projection of top 15 primary insurance markets ranked by premium in billions of euros (Munich RE, 2014)

Key platform features:

  • Comprehensive modelling of hazard and loss uncertainties from a wide range of sources
  • Multi-peril analysis
  • Open access to hazard and vulnerability model components
  • Scalable: deployable on PC or high performance computers
  • Output options: Event Loss Tables (ELT) for the entire event set, AAL, AEP, OEP
  • User-defined sampling settings

 

Customise risk analysis and settings

JCalf® allows clients to control all the key modelling parameters. Users can choose to run models with JBA-recommended analysis settings or can specify their own choice of damage algorithm, number of samples, distribution of hazard intensities, and the ability to run the model with an average damage setting for rapid exposure assessment. Users can access all modelling components (including vulnerability functions and hazard intensities), making adjustments if desired.

Multi-peril platform

The correlation of different hazards is fundamental in capturing realistic loss distributions across a portfolio exposed to multiple risks, such as wind and flood. JCalf 15 uses a copula to correlate relative hazard intensities and the subsequent loss that could be sustained at a given location.

Import capabilities: Model dependent; JCalf® can accept Latitude/Longitude, geography (variable per model, e.g. postcode or CRESTA code) or building resolution at large industrial sites.

Peril: Multi-peril

Current models:
  • UK Flood (river, storm surge and surface water)
  • Thailand River Flood
  • Malaysia Flood (river and surface water)
  • Sri Lanka Flood (river and surface water)
  • India Flood (river and surface water)
New models to be released in 2016:
  • Europe River Flood

For examples of JCalf®'s capabilities for consultancy work, why not read one of our case studies on creating, for example, a multi-peril hurricane model in the French Antilles or a building level analysis of large industrial sites in Germany.