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Insurance Business Management: “A standardised view of risk is necessary”

The Centre for Risk Studies at Cambridge Judge Business School partnered with risk modelling and analytics firm RMS to launch an open-source data definitions document for 14 different classes of insurance exposure including casualty, agriculture, trade credit and surety. The scheme is designed to help insurers manage approximately over $500 trillion in insurance exposure. “A standardised view of risk is necessary to enable a consistent understanding of exposure across multiple insurance portfolios,” explained Professor Daniel Ralph, academic director at the Centre for Risk Studies.

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