Cambridge Centre for Risk Studies
Overview: This report summarizes the activities and results of a two-year project to coordinate a standardized Data Definitions Document for recording and analyzing exposure data across multiple classes of insurance that will enable at least 90% of insurance exposures by value to be captured in a consistent way.
This report is a companion guide to Multi-Line Insurance Exposure Management: Data Definitions Document v1.0, which comprises the Data Definitions Document, developed by Cambridge Centre for Risk Studies in collaboration with Risk Management Solutions, Inc.
The project demonstrates that the data definitions are useable for loss modelling across a broad portfolio of insurance classes, using example scenarios and illustrative loss estimates derived for ‘clash’ losses to each class of insurance from the same underlying event. This use of the exposure data definition schema for loss modelling and accumulation analysis was one of the main requirements for the schema development.
