Open Exposure Data (OED)
Open Exposure Data (OEDTM) is a new exposure data format, developed in collaboration with the industry to ensure a robust and documented exposure framework for Oasis based platforms and models. Designed with Oasis at its core, OED allows firms to take full advantage of the capabilities of the Oasis financial module.
OED delivers greater transparency and enables more robust validation of exposure data within Oasis. It also allows model vendors to unify around one exposure format, creating a standardization that is needed in the industry.
As well as serving as a basis for models running on Oasis, this fully open and independent format is a good starting point for any (re)insurance entity implementing a vendor agnostic exposure database - a recommended strategy to avoid being tied in to any one catastrophe model vendor.
Designed by industry practitioners
OED has been designed by experienced industry practitioners and is based on AIR’s CEDE code-set. It comprises four input files (account, location, reinsurance_info and reinsurance_scope) and 20+ back-end tables in a relational database schema. The exposure data format is open-source and is available on GitHub.Go to GitHub