The Challenge
A Bermuda-based catastrophe reinsurer was losing parametric earthquake and windstorm deals to faster competitors. Traditional CAT modeling took 3-5 days for complex structures, and underwriters couldn't respond to broker inquiries in real-time. With $2B in annual premium at stake, speed was critical.
The Solution
Deployed Pricing Agent integrated with RMS and AIR catastrophe models to deliver parametric quotes in under 2 hours. The system handles multi-zone structures, reinstatement provisions, and aggregate limits while querying real-time exposure databases.
Implementation
Connected Pricing Agent to RMS RiskLink and AIR Touchstone APIs. Built automated scenario generation for earthquake, windstorm, and flood perils.
Trained agent on parametric trigger structures, index-based calculations, and multi-event aggregation logic. Validated against 10 years of historical deals.
Built broker-facing portal for instant quote requests with 2-hour SLA for standard structures, 24-hour for complex multi-peril programs.
Results
Parametric quotes delivered in under 2 hours vs. 3-5 days previously
Improved win rate on competitive placements from 22% to 30%
Added $450M in new premium within 12 months of deployment
CAT model runtime reduced from 18 hours to 90 minutes
"Speed is everything in CAT markets. Reinsured.AI turned our underwriting into a competitive weapon."