Oasis Loss Modelling Framework Ltd.

The Oasis
Community
of Open Loss
Modelling
After two years in development Oasis Loss Modelling Framework Ltd is
pleased to announce the first Release of its open platform loss modelling
software. With model and data providers creating content to run on the
software, Oasis will open up a new world of opportunity and transparency at
lower cost than ever previously available.
Oasis is committed to providing open source free-to-use software once it
is proven. In 2014 at least, Oasis and its benefits remain available only to
Members, academics, and approved software houses.
Delivering on the Promise
When launched at Monte Carlo in 2011 we made a commitment to build a community, drive innovation and transparency, and develop
a fast and flexible plug and play simulation framework for model developers. That commitment to the 22 Member companies that
currently own Oasis has been met on time and on budget.
Our founding Members make up some of the most advanced users of Cat models globally. They represent insurers, reinsurers and
brokers around the world and our Associate Members come from a wide range of academic institutions, specialist hazard companies,
software houses, and other suppliers. Full details available on our web site here: http://www.oasislmf.org/
Our three tier architecture is unique as it can operate on a wide range of platforms from laptop to cloud. It uses open source software
components and works with back-end SQL-compliant databases which includes, as well as the open-source MYSQL, MS SQLServer
and IBM PureData for Analytics (Netezza) Platform. Its revolutionary “agnostic kernel” and “sparse data” concepts allow fast uploads
and runtimes. The Oasis kernel is also highly secure not just because of its use of agnostic keys rather than data like addresses and
codes, but also through operation within Virtual Machines and access to model data using license keys.
We are working with a large number of organisations that can deliver models from the US to Brazil from quake to tsunami and with
providers of software front-ends, data manipulation, and mapping capabilities. Or of course you can just put your own models into
the software.
How can I use the Oasis Framework to
improve my business?
Oasis is about providing fast transparent and affordable catastrophe loss models. Better still, the Oasis technology provides the tools
to allow models to be calibrated for your portfolio, and see full uncertainty or just to produce Event Loss Tables and Year Loss Tables.
Models can be run ground-up or with insurance policy terms and conditions and lines using its Financial Module which will be
published to all in early 2014 to encourage community development of common standards for policy calculations.
We have geared Oasis to technologies that you can readily deploy today in your own technology from laptop to massively parallel
processing computer. Oasis uses open source components and SQL, the industry’s standard language for data definition and
manipulation.
Oasis Functionality
Incoming Exposures
Exposure Items
Ground Up
Loss Calculation
Hazard
TIV
Programme
Ground Up Losses (GUL’s)
Policy T&C
Profile
Financial
Module
Calculation
Insurance Losses
Vulnerability
GUL
Loss
What models will be available for licence in 2014?
From January 2014 with the launch of Oasis Release 1, Members
will be able to download the software that will enable licensing
of third party models or use of their own models. Some of these
are from well-known providers and others from new entrants to
the market.
Models are available as with most Cat models on an annual
licence fee basis but some are also available on a one-off basis
with options for maintenance updates in the future if required.
Also many will be available on a shared services basis, a
commercial arrangement being pioneered by the Lloyd’s market
association (LMA). If several firms want the same model then
they will be available at a discount for multiple buyers. As well as
external models, Members will be trying out their own models in
the Oasis framework. Many others will be available in due course
as it is straightforward and extensible for event-based models.
Commercial models available
Commercial models available
Model
Supplier
Available
UK Flood
JBA
Jan 2014
North Africa Quake
Cat Risk
Jan 2014
UK Flood (deterministic)
Ambiental
Jan 2014
Australia Flood (deterministic)
Ambiental
Jan 2014
Thai Flood
JBA
H1 2014
Middle East Quake
Cat Risk
H1 2014
US Flood
Kat Risk
H1 2014
US Commercial/Industrial Quake
ImageCat
H1 2014
Australia Flood (probabilistic)
Ambiental
H1 2014
Cascadia Tsunami
UCL
2014
Malaysian Flood
Imperial College
2014
Brazilian Fire
Aria
2014
Mexico Quake
ERN
2014
Model developments under discussion
Dataset
Supplier
Available
Model
Supplier
Available
European Windstorm
Met Office
2014
Australia Flood
Kat Risk
TBA
Worldwide Windstorm Catalogues
Oxford ECI (via RPI2)
2014
South American Models
ERN
TBA
US Hurricanes
MIT (via RPI2)
2014
US Wind and Quake
EQECAT
TBA
US Wind
ARA
TBA
How does Oasis differ
from existing cat
models & platforms?
Oasis is not like other catastrophe loss models. It is designed
to operate as a set of plug-and-play components (technically,
webservices) to meet the many and various needs of different frontends and back-ends, whether developed by end-users or software
houses (or Cat modelling companies).
n
Transparency - Oasis makes financial calculations available to all with full
auditability and fast calculation, allowing users (and model developers) to
concentrate on the sensitivity of results to assumptions.
n
Encourages model development - with Oasis as a tool it becomes easier
for researchers to compute the economic and financial consequences of catastrophes.
n
Technical webservices - Oasis runs in a “mid-tier” Virtual Machine with a “back-end” SQL-compliant database (currently
SQLServer, MYSQL, Netezza).
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Plug and play - Oasis is a secure gateway to hazard (science) and vulnerability (engineering) models and not a modelprovider. For exposure data, Oasis is both secure and sparse but requires mapping at the front-end into the simple Oasis
formats. For financial calculations, Oasis provides a “Financial Module” with a reference “Wizard” showing how to set up the
financial structure.
n
Multiple front-ends - although intended as a set of webservices into which users and model providers plug their front-end
systems, Oasis does provides two “reference front-ends” – one in Javascript to illustrate a browser front-end, and one
in Excel to illustrate a Microsoft front-end. Software houses are already creating their own front-end frameworks to allow
rapid development of bespoke Oasis interfaces.
Oasis Technology
Oasis is a three-tier architecture, which means it can be integrated into your existing workflow much more easily than traditional
methods.
You can run Oasis on laptops, on servers, and all the way up to massively parallel processing appliances. Databases supported include
MS SQLServer, the open source MYSQL, and IBM’s PureData for Analytics Platform.
Oasis is highly secure, based on a Django mid-tier run separately in Virtual Machines (VMs) for model providers and users, with license
keys required to use model datasets.
SQL
compliant
servers
Django WS
over VM
in a VM
Reference
web
interfaces
Front Ends: Middle Tier:
Back End:
3-Tier Architecture
Database Servers
Netezza
ODBC
MySQL
ODBC
Other
Technologies
External Web
Services
SQLServer
ODBC
Python / SQL mid-tier
Django RESTFul WebServices
Javascript front-end
in browser
Grid & Cluster
Web Server
Django
Admin
Excel webservice FE
Local Connectors
Linkages to 3rd
Party Products
Loading tools
including ETL
and webservices
Data Storage
File System
MySQL - Django and
‘internal MySQL’
3rd Party Apps
eg - Windows C#,
Andriod, etc
Plans for 2014
Release 1 is just the beginning of Oasis. We have deliberately restricted it to single peril modelling, with limited correlation options. In
2014, we bed this version in with many practical models to test the framework’s extensibility and scaleability. We also have a list of
changes (such as enhanced sampling algorithms) to implement within Release 1 and a programme of work for Release 2.
And more and more models, some possibly extending beyond insurance into economic loss estimation for governments and for
humanitarian purposes.
How can I get access to Oasis models and
software?
For 2013, workshops and test versions of the software have only been available to full Members.
From 2014, membership will be open to all and for that year only will cost £20,000. As other revenue sources come on stream we
expect that this number will reduce substantially.
What you get for this is direct access to the code, and participation in the community Working Parties.
Oasis LMF
20-22 Bedford Row
London, WC1R 4JS
Email: [email protected]
Website: www.oasislmf.org

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