The Oasis Loss Modeling Framework (Oasis LMF), a not-for-profit open source disaster modeling platform, is now available as Oasis Software as a Service Limited (Oasis SaaS) – an industry-owned, vendor-neutral platform designed to preserve independence and choice.
Oasis SaaS leverages its powerful technology to achieve enterprise-scale performance while operating through an industry ownership model to remain protected from acquisition risk.
The platform is designed to provide risk takers with seamless access to more than 300 Oasis model providers, including names such as Impact Forecasting, JBA, Fathom, Renew Risk and ARA.
This broad coverage is designed to improve risk takers’ understanding of risk, thereby improving profitability and avoiding unexpected risk accumulation. Furthermore, it aims to enhance the services that brokers can provide to their clients.
Michael Steel, head of insurance solutions at Moody’s, said: “We welcome this industry-led initiative to create an independent platform to access third-party models that dovetail with our own platforms, data, applications and models.
“This is designed to provide our insurance clients with a streamlined workflow integration path. Oasis SaaS provides a neutral, multi-vendor environment designed to safeguard our clients’ selection of the best model for each portfolio.”
Dickie Whitaker, Chairman of Oasis SaaS, said: “This is a pivotal moment for the industry. Oasis SaaS was created to ensure disaster modeling remains independent, industry-owned and free from the risks of consolidation. With industry funding and a roadmap to scale from up to 20 model providers to over 300 risks, we are delivering solutions built by the market, for the market. We are launching in 2025 The commercial launch in Q3 marks the beginning of a transformation that will make disaster modeling more resilient, innovative and accessible than ever before. “
Moody’s is integrating Oasis SaaS into its Intelligent Risk Platform (IRP). The partnership enables IRP users to leverage Moody’s platform scale and access the Oasis model through a vendor-neutral environment.
This integration unifies access to disaster modeling from multiple vendors within a system, reducing the need for costly data conversion and system integration.
The program is also supported by Amazon Web Services (AWS), whose infrastructure enables flexible deployment, cost efficiency and increased sustainability through on-demand computing, and accelerates initial adoption through cloud credits.
Oasis SaaS is developed with fourTheorem as the service provider backbone, using cloud-native architecture to achieve elastic expansion and achieve significant performance improvements over traditional systems.
Paul Shedden, global head of advanced risk analytics at Aon Venture Capital, said: “Aon is committed to providing clients with the best catastrophe modeling capabilities in the market to analyze their potential risks.
“Oasis SaaS provides a true multi-vendor, multi-model environment, allowing Aon to provide a broader view of risk, enabling customers to make more informed decisions for their business.” Sybil Steiman,
Chairman of the Board of Directors of Oasis LMF (Allianz) commented: “Recent mergers and acquisitions have significantly reduced the market’s choice of disaster modeling providers, increasing the risk of consolidation-driven dependencies. The ability to maintain independence in this area has never been more important.
“For more than 12 years, Oasis has proven that industry-led solutions can thrive outside of commercial ownership. With Oasis SaaS, we are reinforcing this principle – protecting neutrality, ensuring transparency, and giving the market long-term confidence in its modeling infrastructure.”
