Know Your Hazard Risk Across Your Portfolio
Natural hazards like hail, wind, winter storms, floods and earthquakes present a real threat to property and casualty insurers. North American insured losses totaled $17 billion in 2015, the highest of all regions, with an estimated $10 billion in insured losses coming from tornado outbreaks and thunderstorms.* And in the case of Katrina, analysis 10 years later now show the total losses surmounted $80 billion.**
We help you proactively manage your natural hazard and catastrophe risk with reports and data that help you evaluate the risk of one or several properties. We can also provide a composite score of hazards associated with a single property or your entire portfolio. The models developed by our Ph.D.-level scientists answer three critical questions. What could happen? What if it happened? And what did happen?
*Swiss Re Sigma Report, 2015
**Swiss Re Natural Catastrophes and Man-made disasters in 2006, 2007
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Get the Answers to Three Critical Questions
Deterministic: What Could Happen?
Determine the likelihood that a natural disaster like a flood or earthquake will impact your business with our 10 natural hazard models that give you deeper insights into the risk factors affecting your properties.
Our models even bundle those risks into user-friendly scores of 0-100 so you can more accurately assess the risk to individual policies.
Probabilistic: What If It Happened?
Know your probable maximum loss and average annual loss as a result of a catastrophe. We provide an industry best loss simulation and valuation process that ensures you get both a comprehensive and granular look at major disasters.
When natural disasters strike, we help you allocate the appropriate capital reserves.
Forensic: What Did Happen?
See the severity and location of severe weather down to a specific property within your portfolio.
Our weather verification services capture each event down to the minute, mile-per-hour and tenth of an inch over the life of a property. With it, your claims managers more confidently identify the location of incoming claims, assess for pre-existing damage and verify the presence or absence of related damage.
Data That Weathers the Storm
In 2015, there were 10 weather and climate disaster events across the U.S. with insured losses exceeding $1 billion.* As storms continue to grow in cost and frequency, it’s critical to be able to predict the impact they could have on pricing property risk.
Understanding the risk requires understanding the details, such as water flow and surrounding vegetation, to predict loss. Our models include current and historical weather events, giving you insight into the condition of properties. Don’t guess how storms have or will impact properties – know.
Answer Your Burning Questions
Contrary to what you might think, fire hazards aren’t always the result of a natural occurrence. As our growing population continues to expand development, P&C portfolios are becoming more exposed to wildfire risk. In 2015, 10.1 million acres of burned in the U.S.*
Understanding fire-related risk requires an assessment of factors such as surface composition, surrounding vegetation and distance to the responding fire station. We help carriers pinpoint their fire hazard risk and establish better policy premiums without extensive on-site visits. And should a fire occur, we can even help determine the cause.
*2015 CoreLogic® Natural Hazard Risk Summary and Analysis
Look Beneath the Surface
According to the latest sigma study from Swiss Re, the U.S. has the most uninsured losses of any country.* Underinsurance of natural catastrophe risk has risen steadily, and the majority of it involves earthquake risk. As insurers look to close the underinsurance gap, they need to pinpoint risk to establish more adequate premiums.
We help you more accurately identify and understand risk across a portfolio in a wide variety of high-peril areas to ensure accurate and timely coverage. From a single property to an entire portfolio, you are able to evaluate the risk of one or several land-based hazards.
*Swiss Re Sigma Report, 2015
Catastrophe Risk Insights Without Borders
According to the latest sigma study from Swiss Re, insurance has only covered 30 percent of the $1.8 trillion in global property damage resulting from natural disaster events over the last decade.* We provide a unique view of global catastrophe risk, with more than 181 natural hazard software models for 95 countries spanning six continents, allowing you to pinpoint your international catastrophe risk and know when to recommend additional coverage for a variety of perils.
Hazard Data Delivered Your Way
With our flexible delivery methods, you can view the hazard exposure of your entire portfolio. You can also select specific historical events and verify weather in real time and even identify the scope and intensity of a hazard’s impact to your portfolio. And you can zoom in to view the hazards that have impacted your portfolio – even pinpointing individual locations.
Receive natural hazard reports via secure Internet file transmission – a highly beneficial delivery method for batch processing 100,000 files or more.
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