The GEM Colombia model is based upon GEM’s regional model for South America first developed from 2013 to 2015 within the South America Risk Assessment (SARA) project funded by the Swiss Re Foundation and updated in 2018.

The development process involved dozens of local scientists and engineers from earthquake-prone countries in South America, resulting in an open product for analyzing ground-up loss from ground shaking for residential, commercial, and industrial buildings.

This model has been further improved with local information, such as local construction practices, replacement costs and level of enforcement of the seismic regulations. Further technical information can be found in the documentation.

GEM extensively collaborated with its private and public partners to test and validate the model against industry standards in order to produce a new model that represents GEM’s view of risk. The model is available in Oasis and Touchstone formats, as well as through the NASDAQ platform.