Open Data Standards

The foundation for transparent, interoperable catastrophe modelling.

Get Support

What are Open data standards?

Open Data Standards (ODS) are key to ensuring continued transparency and are fundamental to improving interoperability that will increase efficiency for the market, reduce costs, and enable greater choice in the use of catastrophe models.

The OED (Open Exposure Data) standard arose from the lack of an industry standard for Oasis LMF-based models and was developed in 2018. It is a model-developer-independent exposure data format spanning property, cyber and liability classes.

 

The ORD (Open Results Data) standard was developed as a result of a collaborative project involving Managing Agents, Brokers, (Re)Insurance companies, Risk Modelling Vendors, and Third-Party Providers during the Lloyd’s of London Cohort 3 Innovation Lab in Q’s 3/4, 2019. It is a results format designed to encompass output from any type of catastrophe model (not just Oasis models).

 

Both OED and ORD were intended to assist with solving interoperability problems current in the insurance market, where implementing a model-developer-independent exposure data and results repositories assists in creating more choice in the use of catastrophe models and analytical tools.A Steering Committee – formed of industry experts – curates both standards.

Why open data standards matter

Open Data Standards provide a common language for catastrophe modelling that benefits the entire ecosystem.
1

One Data Standard, Many Models

Convert once and access 100+ models from 23+ suppliers.

2

Interoperability and Vendor Freedom

Using a vendor-agnostic data standard reduces dependence on any one model or platform vendor enabling choice.

3

Full Transparency

Open standards support validation, audit, and regulatory compliance.

Benefits to every Stakeholder

For (Re)Insurers

  • ✓ Basis for vendor agnostic data repository
  • ✓ Enables choice of multiple models increasing profitability
  • ✓ Reduces single vendor dependence

FOR MODEL DEVELOPERS

  • ✓ increased model accessibility
  • ✓ lower barriers for development and integration
  • ✓ standardized inputs and outputs increases model adoption

FOR THE INDUSTRY

  • ✓ interoperability – lowers barriers accelerates new model development and adoption
  • ✓ competition – more models, more choice
  • ✓ risk understanding – multi model approaches improve profitability

Current Version and Useful Links

Visit YouTube
GitHub Icon
ODS_OpenExposureData
GitHub Icon
OasisEvaluation
GitHub Icon
OasisPiWind
GitHub Icon
OasisLMF

Steering Committee Members

Our mission is supported by our Members

View all Members
Enquire about membership here

Member contact

Send email

Latest News

View all news

Frequently Asked Questions

01 How much does it cost to use Oasis? +
The Oasis platform itself is free and open-source. You pay only for the models you license.
02 Can I integrate Oasis with our existing systems? +
Yes. Oasis provides APIs that can connect model execution with existing exposure-management and analytical systems, including exposure upload, validation, model runs and results retrieval.
03 How do I choose which models to use? +
Use the Model Library to compare providers, perils and territories. The right model will depend on the portfolio, geography, peril and licensing requirements.

Stay Updated

Get the latest update on model releases, platform updates and industry insights
Subscribe