Exposure Management Systems features

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Tools that monitor and manage the accumulation of insurance exposures across geographic areas, business lines, and risk categories to prevent concentration risks.

We ask vendors to mark their product against our feature list. It is not available for all products and in some cases we have derived data from publicly available sources. The list of features follows. Vendors can add a further 10 key features of their own.

Analytics and Reporting

Analytical features and reporting options that deliver actionable insights from exposure data.

Ad Hoc Query Capability: Users can perform ad hoc queries on exposure data within the system.
Custom Report Designer: Tools that enable users to design and build custom reports.
Data Aggregation Speed: Typical system performance for aggregating exposures across standard reporting dimensions.
Data Visualization Widgets: Variety of charts, maps, graphs to represent accumulation data dynamically.
Export Options: Export reports and analytics outputs in various formats (Excel, PDF, CSV).
Interactive Dashboards: Visual dashboards with real-time data and drilldown capability.
Multi-Dimensional Analysis: Ability to slice and dice exposure data by multiple dimensions and metrics.
Pre-Built Reports: Availability of standard reporting templates (e.g., accumulation by region, top 10 accumulations, trends).
Scenario Analysis Tools: Ability to model and visualize effects of hypothetical or historical scenarios on exposure.
Scheduled Reporting: Automated generation and distribution of reports based on a predefined schedule.

Catastrophe Modeling Integration

Features to leverage catastrophe risk models and results within the exposure management workflow.

Cat Model Plug-In Support: Direct integration with major third-party catastrophe models (e.g., RMS, AIR, others).
Event Footprint Import: Ability to import event footprints from modelers and overlay on current exposure data.
Event Response Workflow: Workflows for rapid accumulation and loss estimation after a major (real-world) catastrophe event.
Exposure Data Export for Modeling: Ability to export exposure data in formats usable by catastrophe modeling software.
Model Version Control: Support for managing multiple versions/updates of catastrophe models and their outputs.
Probabilistic and Deterministic Event Support: Ability to analyze exposure using both cat model types.
Return Period Curve Overlay: Overlay exposure accumulations with modeled loss exceedance probability curves.
Scenario Running within Platform: Users can run cat model scenarios directly inside the exposure management system.

Core Exposure Accumulation Monitoring

Features that allow for real-time identification, monitoring, and management of insurance accumulations across key risk dimensions.

Alert Threshold Customization: Ability for users to set and adjust customized threshold levels for alerts.
Automated Breach Notifications: Automatic notification (email, SMS, dashboard alert) to stakeholders when accumulation thresholds are breached.
Custom Aggregation Rules: Customization of accumulation definitions based on user-defined rules and hierarchies.
Drill-Through Capabilities: Ability to navigate from portfolio to location or individual risk details directly.
Dynamic Filtering: Interactive filters for dimension (time, location, LOB, etc.) slices on exposures.
Exposure Heat Maps: Visual overlays of exposure accumulations, typically on maps or charts.
Frontier Monitoring: System alerts when policies cross user-defined concentration thresholds at any aggregation level.
Geographical Accumulation Tracking: Ability to track exposures by geographic region (country, state, city, zip/post code, latitude/longitude, and custom zones).
Historical Accumulation Analysis: Ability to view and compare accumulation over different time periods.
Line of Business Segmentation: Supports segregation and analysis of exposures by various insurance business lines (e.g., property, casualty, marine, life).
Maximum Record Capacity: The total number of exposure records (e.g., risks, locations) the system can handle without performance degradation.
Multi-Portfolio Support: Ability to monitor exposures across multiple insurance portfolios simultaneously.
Real-Time Data Refresh Rate: Frequency at which exposure data is refreshed in the system.
Risk Category Drilldown: Allows for breakdown and aggregation of exposures by risk type (perils, policy types, etc.).
Scenario Based Accumulation: Capability to simulate accumulation impacts based on event or scenario parameters.

Data Integration and Management

Features that support seamless ingestion and management of various data sources necessary for exposure management.

API Availability: Availability of APIs for inbound and outbound data transfers.
Automatic Geocoding: Converts address data into latitude/longitude for spatial analysis.
Batch Upload Support: Allows batch loading/updating of large datasets.
Cross-System Reconciliation: Ability to reconcile exposure data across systems and highlight discrepancies.
Data Encryption: Supports encryption of data both at rest and in transit.
Data Retention Period: Length of time data is stored and accessible in the system.
Data Validation: Built-in data quality and validation checks during import and processing.
Data Versioning: Maintains different versions of data loaded for auditing and rollback.
File Format Compatibility: Supports multiple file formats (CSV, Excel, JSON, XML) for data ingestion and export.
Mapping Tools: Tools to map and transform incoming data fields to standardized system schema.
Multi-Source Data Integration: Support for integrating policy, claims, reinsurance, cat modeling, and third-party data sources.

Implementation and Support

Features and services helping users get up and running and ensuring ongoing success.

Customizable Onboarding: Supports customized onboarding experiences for different clients/teams.
Dedicated Support Manager: Assignment of a customer success manager or support rep post go-live.
Implementation Timeframe: Typical time required from project start to go-live.
SLAs for Issue Resolution: Defined timeframes for system issue troubleshooting and resolution.
Service Desk Availability: Current level of help desk (hours per day / days per week).
Training Materials: Availability of comprehensive documentation, training courses, and user guides.
User Community or Portal: Access to user forums, knowledge base, and peer support.

Performance and Scalability

Metrics and features ensuring the platform can handle large data volumes and user loads.

Auto-Scaling: System can automatically adjust compute resources based on workload.
Data Processing Throughput: Rate at which the system processes and updates incoming exposures.
Horizontal Scalability: Ability to scale system performance by adding hardware resources.
Maximum Concurrent Users: The maximum number of users who can reliably use the system simultaneously.
Peak Load Handling: System can handle specified peaks in data or user activity without performance loss.
Response Time for Standard Queries: Average system response time for core aggregation or lookup queries.
System Uptime SLA: Service level agreement for system availability.

Reinsurance and Treaty Management

Features to help manage reinsurance treaties and their impact on exposure accumulation.

Automated Treaty Application: Automatically applies treaty rules across exposures for accumulation scenarios.
Ceded Risk Calculation: Calculates the net retained and ceded exposures to reinsurers.
Multi-Treaty Layer Support: Can model multiple treaties and layers in combination.
Pro-rata and Excess of Loss Support: Handles both proportional and non-proportional reinsurance structures.
Retrocession Modeling: Supports modeling of further retrocession arrangements on top of primary treaties.
Treaty Expiry Alerts: Notifies users as treaties approach expiration, to avoid coverage gaps.
Treaty Terms Ingestion: System can import and model reinsurance treaties, terms, and layers.

Security and Compliance

Ensures the solution meets stringent security, data privacy, and regulatory requirements.

Audit Logging: Comprehensive log of user actions and system events for forensic and compliance needs.
Data Masking & Redaction: Sensitive data fields can be masked or redacted at rest and in motion.
Encryption Standards: Level/type of encryption used (e.g., AES-256).
GDPR/CCPA Readiness: Features and documentation supporting global data privacy regulations compliance.
Granular Access Controls: Detailed control over data and action access at the field, record, and report level.
Incident Response Procedures: Documented and automated procedures for handling security incidents.
Penetration Testing Frequency: How often system undergoes penetration testing.
Regulatory Audit Trail: Provides evidence required for audits by regulators.
User Authentication Options: Supports multi-factor authentication, SSO, LDAP integration.

Third-Party Integrations

Capabilities to extend or connect exposure management with other external systems and data providers.

Core Insurance Platform Connectivity: Pre-built connections to common policy admin, claims, or billing systems.
Document Management Systems: Integrates with enterprise document storage and retrieval platforms.
External Event Notification APIs: Receives notifications of real-world events (e.g., earthquakes, hurricanes) from third parties.
GIS and Mapping Data Feeds: Ability to consume external mapping, hazard, and data enrichment feeds.
Regulatory Reporting Integration: Automates export in required formats for regulatory reporting.
Single Sign-On (SSO) Providers: Supports integration with enterprise authentication systems for user login.

User Experience and Usability

Features that ensure the platform is user-friendly and adapts to different personas and workflows.

Accessibility Compliance: Meets accessibility standards (e.g., WCAG 2.1) for users with disabilities.
Customizable Workspaces: Users can personalize dashboards, views, and layouts.
Favorites and Shortcuts: Quick access to frequently used functions or portfolios.
Mobile Responsive Design: Platform is accessible and usable on mobile and tablet devices.
Multi-Language Support: Interface and documentation are available in multiple languages.
Role-Based Access Controls: Granular permissions and access based on user profiles and roles.
Session Timeout Settings: Configurable time for user session timeout for security.
Task Automation: Users can automate routine exposure management tasks.
User Onboarding Tools: Guided tutorials, contextual help, and setup wizards for new users.

Workflow and Collaboration Tools

Digital tools that support exposure review, approval, communication, and documentation.

Automated Escalation: Automatically routes unresolved issues to management after configurable time.
Change Tracking: Full version history of exposure changes and administrative actions.
Commenting/Annotation Capabilities: Users can comment on, annotate, or flag records and reports for collaboration.
Exposure Review Workflow: Structured approval and review processes for new risks or accumulation changes.
Integration with Messaging Platforms: Connects to Slack, Teams, or email for notification and collaboration.
Notification Center: Central feed of alerts, assignments, and reviews.
Task Assignment: Assign and track exposure-related tasks among users/teams.

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Features in Exposure Management Systems

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