R-plus
Besides the control of exposed values, evaluate catastrophic risk, in terms of how, how many and where there is exposure by using models, is essential to control the probability of ruin, that is, the capacity of coverage of the insurance company, transferring all that cannot be retained (reinsurance). The more details known about the insured property, such as type of building, geo localization, insured amount, among others, the better the risk assessment and consequently least uncertainty in the probability of ruin.
R-Plus is a platform for financial risk assessment. This system calculates the pure premium for individual risks, the premium for reinsurance contracts non-proportional and the total risk of catastrophe in a given region with exposure data of different quality and special resolution according the type of analysis.
With this platform it is possible to obtain standard results for risk measurement, such as exceedance probability curve per event, annual tables of losses per event, maximum probable loss, between others, for areas defined by the user. Likewise, R-plus calculates the probability of ruin, human losses and losses per event per policy. The results can be easily visualized in any GIS platform.
Nowadays, R-Plus is used by different supervising bodies in several Latin American countries. Its financial module works for all the standard insurance and reinsurance structures. In March 2017, the Colombian Superintendence of Finances, certified the R-Plus model for regulatory purposes of the Colombian insurance market.
