CoreLogic® offers a complete suite of wildfire hazard and risk assessment products to assist insurers with all phases of the insurance lifecycle process.
As wildfires are becoming more consequential for property owners, insurers, and other stakeholders, it is important to have the right enterprise risk management solutions incorporated into your workflow to effectively address this complex peril. Using the CoreLogic Wildfire Risk Score and U.S. Wildfire model in tandem brings even more power to assessing higher risk properties.
Two Perspectives on Property Risks Are Better Than One
The Wildfire Risk Score (WFRS) and Wildfire Mitigation Score (WFMS) are deterministic-based hazard assessment models that are well-suited for shaping underwriting guidelines and supporting individual case-level underwriting and pricing decisions. They offer comprehensive solutions for property risks that encompass various stages, starting from point-of-sale acquisition and underwriting, and extending through the intricacies of risk pricing, catastrophe risk assessment, and capital management.
- Wildfire Risk Score incorporates and assesses factors like fuel, terrain, wind, drought, and distance to higher hazard fuels and wildland.
- S. Wildfire Model builds upon these factors by incorporating and assessing additional components such as fire weather conditions, frequency of past fires, fire suppression, mitigation measures, and building characteristics.
- Wildfire Mitigation Score is a California-specific deterministic model created for insurers, lenders, and other service providers impacted by the regulatory requirements created by the California Department of Insurance (Section 2644.9) – learn more.
Learn more about how the CoreLogic suite of wildfire hazard and risk assessment products provides insurance carriers with a complete set of professional, science-based analytical tools to compete in today’s rapidly changing environment.