CORE is the JLT Re Calculator for Offshore Risk Exposures. This model allows for ‘Glass box’ flexibility where all assumptions can be monitored, modified, replaced or supplemented as the user requires. Our ‘client first’ mentality, allows for different assumptions for different users and uses, creating a fully bespoke tool.
CORE bridges the gaps in what we have observed in the offshore energy insurance market, and overcomes some of the key limitations in existing systems. This is a web-based live aggregation monitoring and reporting tool.
CORE also allows users an additional view of their RDS exposed risk using the damage ratios required and all tracks, irrespective of actual strength. The calculation also allows for all policy limits and reinsurance structures.
The CORE ‘Realistic’ basis uses various events and replaces the damage functions with JLT Re’s assumptions.
Actuarial outputs and return period losses are assessed following review of analyses.
CORE also contains functionality to support aggregate reporting for world-wide exposures. There is also the provision to review and monitor pre-underwriting assessments of wind exposures in the Gulf of Mexico and complete portfolio risk transfer.
Most of all, CORE enables our clients to better understand the reinsurance renewal information and presentation of portfolio information as well as catastrophe pricing and account differentiation.