What is Touchstone?

Touchstone is a sophisticated risk modeling platform primarily used in the insurance and reinsurance industries. It enables insurers, reinsurers, and other stakeholders to assess and manage the risks associated with natural and man-made catastrophes. Key features include:

• Catastrophe modeling: Touchstone provides advanced catastrophe models that simulate the potential impacts of various natural disasters, such as hurricanes, earthquakes, floods, and wildfires. These models help insurers understand the probable losses from such events.
• Exposure management: Insurers can use Touchstone to analyze their portfolios and determine their exposure to different types of risks. This helps in identifying areas where they might be overexposed or under insured.
• Loss estimation: The platform allows insurers to estimate potential losses from different scenarios. This includes both average annual losses and losses from extreme events, helping insurers to set premiums appropriately and manage their capital reserves.
• Underwriting support: Touchstone provides tools that assist underwriters in assessing the risk associated with individual policies or entire portfolios. This ensures that premiums are aligned with the level of risk.
• Regulatory compliance: Insurers can use Touchstone to generate reports and analytics that comply with regulatory requirements. This is particularly important in regions where regulators require detailed risk assessments and capital adequacy reports.
• Risk transfer and reinsurance: The platform helps insurers evaluate the effectiveness of reinsurance programs and other risk transfer mechanisms. By modeling potential losses and reinsurance recoveries, insurers can optimize their reinsurance strategies.

With Touchstone, you can:

• Harness the power of Verisk’s industry-leading extreme event models.
• Understand exposure accumulations and improve the quality of your exposure data.
• Perform advanced sensitivity testing.
• Consider alternative views of risk and account for the impact of climate change.
• Manage global exposure to both modeled and non-modeled perils.
• Gain insight into sources of uncertainty and how to manage them.
• Generate the information you need, when you need it.