Last week, OpenRisk LLC, announced that they received an award for a new Platform as a Service (Paas) solution for the insurance industry that allows access to risk models to underwriters. These geospatial information-based models estimate “the potential financial damage to a portfolio of properties resulting from disasters such as earthquakes, hurricanes and floods” according to the executive overview provided by the company. To run these complex catastrophe models, OpenRisk will host their solution on a supercomputer and give access to insurance, reinsurance or brokerage firms via a cloud service. “The idea is to enable the insurance industry to share our supercomputers rather than host the models internally, including the costs of IT support, hardware upgrades and high-cost PhD-level staffing, said Jim Aylward, CEO. More information will be available soon at www.OpenRiskLLC.com.