added

Risk Modeler, June 2022

Batch management of exposures, enhanced user-defined workflows, and updates to climate change processing are featured in the June, 2022 release.

Climate Change Updates

The updated Analyze account service (POST /[v2]/account/process) and Analyze portfolio service (POST /[v2]/portfolio/process) improve support for climate change analysis by enabling clients to specify the climate change model used to calculate risk to location exposures by account or portfolio.

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Licensed Extension

RMS climate change models are separately licensed extensions to existing reference models.

RMS climate change models enable RMS customers to better assess how climate change may affect their business using existing risk metrics. Climate change models deliver a probabilistic view of four representative concentration pathways (RCPs), which describe possible climate futures contigent on the projected volume of greenhouse gas emissions. These climate change models capture climate-conditioned projections based on four RCPs (RCP2.6, RCP4.5, RCP6.0, and RCP8.5) and a range of time horizons (2020-2100 in five-year intervals).

The optional climateChangeVariationId body parameter identifies a climate change model by its ID as specified in the new CCHazardDLM domain data table. If the climateChangeVariationId parameter is unspecified, the default value of zero (0) is passed.

{
  "id" : 1,
  "exposureType" : ACCOUNT,
  "edm" : "RMS EDM SAMPLE",
  "currency" : {
    "code" : "code",
    "scheme" : "scheme",
    "asOfDate" : "2021-05-05 12:14:13",
    "vintage" : "vintage"
  },
  "modelProfileId" : 1,
  "eventRateSchemeId" : 5,
  "treaties" : null,
  "jobName" : null,
  "outputProfileId" : 2,
  "globalAnalysisSettings" : {
    "franchiseDeductible" : false,
    "minLossThreshold" : 1.0,
    "treatConstructionOccupancyAsUnknown" : true,
    "numMaxLossEvent" : 1
  },
  "climateChangeVariationId": 9
}

A successful request returns a 202 Accepted response in the Location header that includes a URI for tracking the statues of the workflow: [host]/v1/workflows/[workflow ID].

Sea Level Rise Climate Change Model

In this Risk Modeler 2.0 release, RMS has enhanced North Atlantic Hurricane Climate Change Model to include sea level rise projections for the United States. These projections include the impact of vertical land movement, for example, areas of land sinking in the Gulf region. For documentation, see the Climate Change peril model page on RMS Owl. Some documents are available to model licensees only.

Batch Exposures

The Manage exposures in batch service (POST /v3/exposurebatches) provides organizations with a simplified method for managing large groups of exposures. Clients may add, update, or delete groups of portfolio, account, location, and policy exposures in a single request.

The request body defines an object that consists of four arrays: the portfolios array, accounts array, locations array, and policies array. Each array defines one or more operations that create, edit, or delete exposures. The operation is defined by an operationType that specifies the action performed (one of INSERT, UPDATE, or DELETE), a label that uniquely identifies the operation, and exposure attributes.

Exposure definitions may be nested within one another enabling you to not only manage large numbers of exposures, but also define the relationships between those exposures . For example, a portfolio many be associated with multiple accounts. The service enables you to define the attributes of the parent portfolio and the attributes of all child accounts in a single JSON structure. For an explanation of the hierarchical structure of exposures, see Exposure Data.

This service supports the processing of large numbers of exposures in a single request. Consequently, the size of the request package may be quite large. Maximum supported payload: 5MB. Request packages that define up to 1000 exposures may be submitted in JSON format: Content-Type: application/json

A successful request returns a 202 Accepted response in the Location header that includes a URI for tracking the status of the workflow: [host]/v1/workflows/[ID].

User-defined Workflow Enhancements

The updated Process user-defined workflow service (POST /v1/worklfows) enables clients to add, update, or delete exposures in batch as part of user-defined workflows.

All parameters are specified in the request body, which defines an array of operation objects. If the operation object specifies a Manage exposures in batch endpoint (/v3/exposurebatches?datasource=datasourceName), the user-defined workflow initiates a batch operation that is specified in the input object.

The updated service now enables you to define operations that act on specific exposures using operation path variables. The operation path variable uses a JSON query string to retrieve data from a previous operation output. Every operation is defined by a unique label value and this label may be used to query the output of that operation in subsequent operations.

For example, you may define a batch operation to create a new account. A subsequent operation may use an operation path parameter to place the ID of that account in the operation path:

{
   "operation" : "/v1/accounts/{{$..[?(@.label =='accountLabel1')].id}} /geohaz/?datasource={{datasourceName}}",
   "label" :"geohazJob",
   "dependsOn" : ["ExCustomWorkflow"],
   "input" : [ ]
    ...
}

The path variable is a simple JSON query string enclosed in double curly braces. In the example, the {{$..[?(@.label == 'accountLabel1')].id}} variable defines a query for retrieving the output generated by the accountLabel1 operation. During processing, the workflow engine “expands” this function to query and return the ID number of the new account using the path (label.output.value).