Aon said its Impact Forecasting team is using the Oasis Loss Modelling Framework to deliver ERN’s Latin America catastrophe models to clients. The models are available through Impact Forecasting’s ELEMENTS platform.
Latin America is drawing more attention from (re)insurers looking to diversify portfolios. The region carries material climate risk, yet its loss profile skews more toward earthquakes than hurricanes, which can offset concentration elsewhere.
Oasis LMF now supports an expanded set of ERN models inside ELEMENTS. The move adds Latin America to a growing list already available in Oasis, including Europe windstorm, Europe severe convective storm, Canada flood, Europe flood, Thailand flood, and a Manhattan blast model.
According to Beinsure analysts, uptake reflects demand for alternatives to closed vendor systems.
Climate volatility and tighter regulation are pushing insurers to pressure-test assumptions. By supporting Oasis, Impact Forecasting gives (re)insurers more control over how catastrophe risk gets modelled.
Customisable structures allow firms to adjust views of risk, refine pricing, and make capital decisions that fit their own exposures rather than generic benchmarks.
Impact Forecasting works with clients both as a model provider and as a technology provider. Through ELEMENTS, users can run Impact Forecasting models and integrate third-party vendor models in the same workflow.
The setup supports benchmarking and blending across multiple views of risk, which helps teams avoid single-model dependency.
Adam Podlaha, global head of Aon’s Impact Forecasting, said clients want access to catastrophe data through systems they already use. He said collaboration with Oasis LMF and ongoing discussions with software and model vendors aim to broaden model choice and improve how catastrophe risk is quantified.
Aon recognises that clients need to access catastrophe data and models through their preferred systems and platform. With our collaboration with Oasis LMF and positive conversations with software and model vendors, we continue to seek the best solutions and expand the range of models we offer to help quantify catastrophe risk for our clients.
Adam Podlaha, global head of Aon’s Impact Forecasting
“Our approach reflects Aon’s ongoing commitment to innovation, transparency and client empowerment in the evolving world of catastrophe risk management,” Adam Podlaha said.
Paula Ferreira, Latin America CEO for Aon Reinsurance Solutions, said under-insurance and emerging risks create growth opportunities across the region. She said ERN’s additional models improve exposure analysis and support more tailored solutions for clients operating in Latin America.
Impact Forecasting allows insurers to adapt models using their own claims and exposure data. Damage and vulnerability functions can be refined using historical loss experience.
The US severe convective storm model, for example, supports custom vulnerability curves aligned to individual portfolios.
Insured losses from severe convective storms in the US hit $42 bn in 9M 2025. Moody’s says the jump in per event costs, now running 31% above the prior decade’s average, shows the country has entered a new normal for destructive weather.
Between January and September 2025, the US logged 39 severe convective storms, each clearing the $1 bn mark.
That pace nearly matches the full year 2024 total, when the industry estimated SCS losses between $51 bn and $57 bn. 9M into 2025, the market is already closing in on those numbers.
Users can also access hazard layers and event data, which adds visibility into how models behave. That transparency helps teams validate assumptions and build confidence in outputs before results reach underwriting or capital committees.
Aon’s open modelling work extends beyond insurance. Impact Forecasting is a founding partner of the Insurance Development Forum and has contributed free scenarios in Oasis LMF, plus typhoon and earthquake event sets for the Oasis Risk Explorer.
The team has also worked with development banks on multi-peril modelling projects in markets such as Vietnam and Nepal.
