Loss data services
We are the only global loss sharing service for the banking and insurance sectors, with a database that now contains more than 500,000 loss events. While we now do much more than this, loss data remains a core service that we offer our Members.
So our data is more relevant to our Members, we split our loss data services by industry and in some cases region. This means they can easily perform targeted benchmarks and analysis.
ORX Global Banking
Established in 2002, the ORX Global Banking service was the first service we offered our Membership. With over 80 Members and database of more than 500,000 worldwide loss events, Members benefit from access to a large data set.
The global banking database gives Members access to many different standard reports, including benchmarks and loss event severity reports. Some of the reports are further broken down by Business Line. Our Members use these reports for modelling and risk management.
In order to share high-quality data it's essential that everyone uses the same terms and definitions. Our Banking Operational Risk Reporting Standards (B-ORRS) has become the industry standard for sharing not only operational risk – find out more about our standards.
ORX Global Insurance
In 2015, following a request from the CRO Forum (http://www.thecroforum.org), ORX established an Insurance service. This service provides insurers with the ability to exchange high-quality data relating to operational risk losses in a completely secure and anonymised way. Members can use this data to run a number of standard and specific reports.
Like the banking service, ORX Global Insurance has a specific set of standards to ensure data quality. Find out more about the standards and request a copy.
ORX Regional Banking
As well as our global service, we offer banks based in certain countries the chance to subscribe to a number of regional banking services. These give Subscribers the chance to share a bespoke dataset, and to perform benchmarks and analysis against an even more specialised set of data. This can provide invaluable insight into the losses suffered in their region. Our current regional services are:
- ORX Regional Banking – Australian
- ORX Regional Banking – Canadian
- ORX Regional Banking – South African
- ORX Regional Banking – Spanish
- ORX Regional Banking – UK