Pavia, Italy. March 21st. – RMS, a world leading risk modeling and solutions company, has joined the Global Earthquake Model (GEM) Foundation, an international public-private partnership that develops and disseminates open-source earthquake hazard and risk assessment software, models and data. The GEM Foundation collaborates worldwide, building local and organizational capacity toward understanding and managing earthquake risk on a local to global scale.
The combination of RMS’ latest scientific research and applications, and comprehensive coverage of seismically active regions across the globe; and GEM’s array of open earthquake hazard and risk models and OpenQuake software tools will further enable insurers, reinsurers, financial services organizations, and the public sector with the most informed view of earthquake risk available today.
In the last 12 years, GEM has contributed substantially to the broader objectives of the disaster risk reduction community through public-private partnership, research, technical cooperation, training and distribution of open tools that have been used to build a global mosaic of earthquake hazard models and to develop a global risk model centered on the physical and financial risk to the built environment and human population.
John Schneider, GEM Secretary General, said: “GEM has become widely known for its work and its contribution to improving the state of knowledge of earthquake risk. Working with RMS to advance earthquake science and open data can further strengthen our scientific insights and commitment to understand, evaluate, and manage earthquake risk especially in underserved regions of the world.”
Mohsen Rahnama, Chief Risk Modeling Officer, RMS, said: “RMS started at Stanford University by developing earthquake models for California. The science around earthquakes continues to grow and develop, as does the technology that helps support even greater analysis and understanding of these catastrophic events. RMS has long admired the work of GEM and we are pleased to now be part of this prestigious foundation. We look forward to working with the other members of GEM as we move towards advancing global earthquake understanding and knowledge.”
Risk Management Solutions, Inc. (RMS) shapes the world’s view of risk for insurers, reinsurers, financial services organizations, and the public sector. We empower organizations to evaluate and manage global risk from natural and man-made catastrophes, including hurricanes, earthquakes, floods, climate change, cyber, and pandemics. RMS models underlie the nearly US$2 trillion Property & Casualty industry and many insurers, reinsurers, and brokers around the world rely on RMS model science.
RMS helped pioneer the catastrophe risk industry, and continues to lead in innovation by offering unmatched science, technology, and 300+ catastrophe risk models. Leaders across multiple industries can address the risks of tomorrow with the RMS Intelligent Risk Platform™, the only open cloud with collaborative applications and unified analytics that can power risk management excellence across organizations and industries.
Further supporting the industry's transition to modern risk management, RMS spearheaded the Risk Data Open Standard (RDOS), a modern, open-standard data schema designed to be an extensible and flexible asset within modeling/analysis systems.
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