Figuring the odds
May 20th, 2005 by JTJ

Last week, NOAA predicated a serious hurricane season a'comin' in the Atlantic, which has implications for the entire U.S. East Coast.  That's last week's
news, but if one lives in California, Mexico, Central America or Japan,
then today there's always the possibility of a major shaker.  And
those are just risks imposed by nature.  Modeling these and other
hazards of life is the mission of RMS, a fascinating California company demonstrating innovative thinking and analytic tools.

RMS brings together a unique, multidisciplinary team of experts to
create solutions for its clients’ natural hazard and financial risk
management challenges. We are the technical leader in our market, with
over 100 engineers and scientists devoted to the development of risk
models. Of this number, approximately fifty percent hold advanced
degrees in their field of expertise.

Our specialists track research among leading experts and academic
institutions worldwide, and supplement this knowledge with internal R&D
to ensure that our models provide the most complete and accurate
quantification of risk.

Yup — our kind of guys.  Examples of the output of these “risk models” can be found here.  Of special interest to U.S. journalists are the Catastrophe Risk maps.  (They are a bit too small to read in detail, but big enough to get the gist of some of the RMS product.)

We hope to report more next week about RMS, how it does what it does and how there might be some synergy there for analytic journalists.

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