What's new in Touchstone 2024

Summary of new features and updates in Touchstone 2024.

Important: We strongly recommend that all Touchstone and Touchstone Re users read the product release notes, including the API release notes if you are using our APIs. The release notes are available on the release documentation landing page for each product.

Information specific to this release is summarized on the Touchstone 2024 Release Documentation page on the Client Portal. For related information, also on the portal, see Hot Fixes and Services Packs at https://www.air-worldwide.com/client-support/Hot-Fixes/; the content is periodically updated. To sign up for Touchstone notifications follow this path: Client Portal > Profile > My Profile > Manage Subscriptions > Client-Confidential Content > Documentation and Software Downloads

This release includes enhancements to Verisk models and the user interface, data updates, and more.

This release provides parity with previous versions of Touchstone.
Note: This release does not support dynamic hazard/LLEI for previous model versions.

Models

There are new and updated models:
  • This release includes a new Verisk Inland Flood Model for Canada, which provides users with a comprehensive solution for modeling their risk from inland flooding in Canada.
  • The Verisk Earthquake Model for Canada includes changes that account for the 2020 Natural Resources Canada (NRCan) hazard update, as well as for the addition of sprinkler leakage, improvements to the vulnerability module, and support for 100K catalogs (both Time Dependent and Independent).
  • We created a new public API for the Florida Commission (Verisk Hurricane Model for the United States).
  • We updated the vulnerabilities in theVerisk Tropical Cyclone Model for the Caribbean.
  • We made significant updates to the Verisk Wildfire Model for the United States to provide a more current view of the wildfire risk in the western United States.
  • Verisk Severe Thunderstorm Model for the United States
    Important: Peril codes are different in Geospatial analysis than they are in Detailed Loss analysis. We do not support the new sub-peril set code for the Verisk Severe Thunderstorm Model for the United States, which is 11534336. Instead, we are still using the old sub-peril code, which is 2. This mismatch creates an issue when a user tries to join detailed loss results with geospatial analysis accumulation output.

Software enhancements

  • Import OED .csv files: Touchstone now supports the ability to import Open Exposure Data (OED) .csv files (Location, Account, ReinsInfo, and ReinsScope) for supported financial terms using both Touchstone ImportExpress and related APIs.
    Note: Reinsurance program import support is not part of Touchstone ImportExpress functionality. The Touchstone Reinsurance Program Manager supports the import of reinsurance programs.
  • Verisk BINS: In this release, we added support through our public APIs.
  • Gas and oil prices: Oil and gas prices are now defaulted to zero as of this release. (Admin > Administration Console > Loss Defaults > Gas and Oil Prices).
  • Loss Modification templates: The templates now support CRESTA codes. Users can import loss modification templates as CSV files with CRESTAcode columns.
  • Hazard analysis: Import and Export icons for Hazard analysis templates are now active, enabling you to transfer one or more templates between business units within a single Touchstone environment or between different Touchstone environments. This release also provides a public API for this enhancement.
  • Geospatial analysis: The public API API GetGeospatialTemplates now includes templates based on custom boundaries.