With new data and a better understanding of cloud behavior, Parametrix Analytics introduces a new approach to Lloyd's cloud outage RDS.
As cloud technology rapidly evolves and reliance on cloud services grows, insurers and reinsurers are increasingly exposed to cloud-related risks.
A New View on Cloud Outage RDS analyzes Lloyd’s RDS 17.3 “Cloud Cascade”, offering a more practical and insightful scenario that aligns results with the actual structure of the cloud landscape.
The white paper addresses key challenges with the current cloud outage RDS, including:
A lack of specificity about the nature of the event
A lack of specificity about the scope of the outage event
A lack of specificity about the impact on insureds
Superfluous details about the event
Return period estimates, and
Inadequate economic loss assumptions
Parametrix proposes essential data elements to specify a new cloud outage scenario. Utilizing different, more granular, and readily available data will result in a more plausible RDS.
This will enable more informed decisions regarding capital allocation, risk management strategies, and pricing of cloud-related insurance products.
Read about the latest outage events, industry trends, thought leadership pieces, and more.
Creating cutting-edge tools and models that enable companies, insurers, and reinsurers to quantify, manage, and transfer their exposure to cloud outage risk. Parametrix is a Lloyd's Coverholder whose policies are backed by major A-rated global insurers.
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