A History of Continuous Improvement

Vantage Risk

Since its inception in the late 1980s, the catastrophe model industry has continued to improve by upgrading current models and introducing new ones. Some of the changes have been due to new scientific research and data or the availability of faster computing techniques, others due to market requirements. However, most of the model changes have occurred after a major catastrophic event, either because the models failed in some way or didn’t exist at all.