RMS Launches Developer Network for Its Risk Management Platform

RMS started a new developer network for partners and developers to build apps for its RMS(one) risk management platform.

RMS has announced the RMS(one) Developer Network, which extends the capabilities of the company’s cloud-based exposure and risk management platform.

The new developer network enables RMS client and partner developers to integrate tools, applications and models with RMS(one), the company’s real-time exposure and risk-management platform. The RMS(one) Developer Network will give access to the RMS(one) Model Development Kit (MDK) and RMS(one) API on April 15 in conjunction with the general availability of RMS(one).

Using the RMS(one) API, clients and partner developers will have the ability to program against an open platform to extend the capabilities of RMS(one). Company officials said the RMS(one) Developer Network will provide everything required to integrate and build applications, tools and services that leverage the RMS(one) platform, including documentation, developer support and the RMS(one) API SDK – a set of tools, code libraries and sample code designed to speed up the integration and development process.

For client and third-party model developers, the RMS(one) MDK enables the development of new models and the translation of existing models to host on RMS(one), enabling insurers, reinsurers and brokers to run their businesses using whatever combination of proprietary and commercial catastrophe models they choose and operate those seamlessly on a single platform.

“Technology companies are often defined as much by their ecosystem as their own products,” said Heidi Roizen, DFJ Venture Capital operating partner and RMS board advisor, in a statement. “Companies such as Apple and Salesforce.com have unlocked possibilities by empowering developers to build on top of their products. The RMS(one) Developer Network brings this kind of innovation to the insurance industry, creating a platform that is scalable, adaptable and extensible.”

With RMS(one), companies in the insurance, reinsurance and insurance-linked securities industries will be able to access various catastrophe models, integrate their own data and build applications such as reporting, analytics and pricing tools on a single, easy-to-use, cloud-based platform. RMS(one) enables users to save time, increase their capabilities and allocate capital more effectively, the company said.

“We are committed to giving developers the resources needed to build a thriving ecosystem through the RMS(one) Developer Network,” said Alex Barnett, vice president of developer relations at RMS, in a statement. “Clients will have the freedom and flexibility to control their own destiny by leveraging third-party offerings or building their own custom solutions to implement the full exposure and risk- management systems they need.”

Early members of the RMS(one) Developer Network include ARA, ERN, JBA Risk Management and Risk Frontiers.

Meanwhile, RMS said it will be hosting a series of developer sessions at its Exceedance user conference, held April 14-17 in Washington, D.C. These classroom and hands-on sessions will help developers learn how the RMS(one) API enables the integration of their applications, tools and services on RMS(one), as well as offer the opportunity to work hands on with the RMS(one) API and learn how create and host their own custom models on RMS(one) using the RMS(one) MDK.

The conference will offer keynotes featuring RMS executives, and industry leaders will explore the latest industry trends and discuss the transformation RMS(one) is driving in the industry. Speakers include Hemant Shah, RMS co-founder and CEO; Vivek Kundra, the first chief information officer for the U.S., chair of the World Economic Forum Global Agenda Council on the Future of the Internet and executive vice president at Salesforce.com; Trevor Maynard, head of exposure management and reinsurance at Lloyd’s of London; Solomon Hsaing, climate risk expert and U.C. Berkeley professor of public policy; and Robert Muir-Wood, chief research officer at RMS.