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PropertyCasualty 360: 'Practical innovation' is helping insurers manage wildfire risk

Author: Louise Braybrooke

Florida State University Risk Management Professor Lynn McChristian says, “California is the lab for managing exposure to wildfire risk.”

In other words, if carriers and reinsurers can make it there, they can make it anywhere.

The past several years have seen a steep increase in the severity of wildfire events, with an estimated $12 billion in insured losses in California alone in 2018, and nearly that same amount in 2017.

Reinsurance News: Willis Re deploys updated US wildfire risk solution

Author: Charlie Wood
Recent and devastating wildfires in California revealed that many carriers do not have a good handle on their wildfire risk, largely due to existing industry models which do not accurately represent the hazard. To help clients bridge this gap, in 2016 Willis Re initiated development of a wildfire risk score. Today, Willis Re in partnership with SpatialKey, a leading data enrichment and geospatial analytics hub for the P&C industry, have enhanced this solution in order to deliver to clients at their point of quote.

Reinsurance News: Oasis LMF launches global collaborative risk modelling project, The Wave

Author: Luke Gallin
The Oasis Loss Modelling Framework (Oasis LMF) announced the official launch of global collaborative risk modelling effort, The Wave at its London conference held earlier this week. Oasis LMF states that the list of supporters and participants in The Wave is growing, and currently includes Fractal Industries, Xceedance, Concirrus, JBA Risk Management, Applied Research Associates, Inc., Impact Forecasting, Simplitium, and SpatialKey.

Claims Journal: SpatialKey Launches Automated Event Notification and Analysis Solution for P&C Insurers

Author: Sarah Stadler
SpatialKey, known for its global data enrichment and geospatial analytics platform, will now help property and casualty (P&C) insurers understand the immediate business impact of US severe storms events by leveraging leading weather data to power event enhancements.

Insurance Thought Leadership: Industry Demands an Open Ecosystem

Author: Bret Stone
We increasingly depend on ecosystems, and we need greater interoperability to overcome inefficiencies and redundancies.

Reinsurance News: Swiss Re’s CatNet hazard data integrated into SpatialKey

Author: Steve Evans
Catastrophe peril hazard data from leading reinsurance firm Swiss Re is to be made available to a wider range of re/insurers through a partnership with geospatial insurance data and analytics specialist SpatialKey

Entrepreneur: Small-Sized Companies: The Best Company Cultures in 2017

Author: Matt Sheehan
Entrepreneur teamed up with CultureIQ to rank high-performance cultures at small-sized companies for our Top Company Cultures list.

Insurance Thought Leadership: Data Providers: It’s Time to Collaborate

Author: Bret Stone
Collaboration is not only necessary if we are to fulfill our promise to society, but it is the future of insurance. No one can go it alone.

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Press Releases

SpatialKey Releases the Next Iteration of its Automated Event Notification Solution for P&C Insurers, Including Hurricane and Storm Surge Alerts & Analysis

P&C insurers can now understand the immediate business impact of hurricanes, cyclones, and typhoons, as well as U.S. severe storms with SpatialKey's next iteration of its automated events notifications solution. SpatialKey is pleased to launch the next iteration of its automated event notifications solution which, in addition to providing 24/7 event notifications and analysis for severe storms, will now provide event alerts for hurricanes, cyclones, and typhoons, including both wind and storm surge analysis. SpatialKey, known for its global data enrichment and geospatial analytics platform, will now help property and casualty (P&C) insurers understand the immediate business impact of hurricanes, cyclones, and typhoons, along with U.S. severe storms events by leveraging leading weather data from WeatherGuidance, NOAA, and Kinetic, as well as raster data support, to power event enhancements.

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Willis Re delivers U.S. wildfire risk underwriting insight to clients

Recent and devastating wildfires in California revealed that many carriers do not have a good handle on their wildfire risk, largely due to existing industry models which do not accurately represent the hazard. To help clients bridge this gap, in 2016 Willis Re initiated development of a wildfire risk score. Today, Willis Re in partnership with SpatialKey, a leading data enrichment and geospatial analytics hub for the P&C industry, have enhanced this solution in order to deliver to clients at their point of quote.

READ MORE >>


SpatialKey Launches Automated Event Notification and Analysis Solution for P&C Insurers

SpatialKey is pleased to launch the initial offering of its automated event notifications solution which provides 24/7 severe storms event notifications and analysis using weather data from WeatherGuidance. SpatialKey, known for its global data enrichment and geospatial analytics platform, will now help property and casualty (P&C) insurers understand the immediate business impact of US severe storms events by leveraging leading weather data to power event enhancements.

READ MORE >>


Streamlined access to JBA's 5m Florida flood maps

Global flood expert, JBA Risk Management (JBA), and leading data enrichment and geospatial insurance analytics firm, SpatialKey, have collaborated to provide JBA’s new 5 meter flood maps and associated pricing data to insurers who underwrite and manage flood risk in the state of Florida.

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 SpatialKey and IHS Markit Collaborate to Offer Political Violence Risk Intelligence Data to Insurers

SpatialKey Inc. (SpatialKey) is pleased to offer its insurance clients access to market-leading political violence data from IHS Markit (Nasdaq: INFO). IHS Markit provides comprehensive location-specific risk scores and in-depth intelligence, which is immediately available to underwriters and exposure managers within SpatialKey’s geospatial insurance analytics platform.

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 SpatialKey and KatRisk Partner to Deliver New U.S. Flood Solution

SpatialKey Inc. and KatRisk LLC have announced their partnership to offer an unmatched U.S. flood solution to enable re/insurers to identify and monitor portfolio flood accumulations and to optimize risk selection at the point of sale.

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 SpatialKey and JBA Risk Management Announce Partnership to Deliver Flood Risk Solutions Worldwide

SpatialKey, Inc. and JBA Risk Management Limited today announced their partnership and collaborative commitment to building innovative flood risk solutions for the insurance industry.

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 SpatialKey ranked on 2017 Top Company Cultures List Presented by Entrepreneur and Culture IQ

SpatialKey secured 15th place in the Small Company category of Entrepreneur’s Top Company Cultures list. SpatialKey is recognized for creating an exceptional culture that drives employee engagement, exceeds employee expectations, and directly impacts company success..

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 SpatialKey Names Insurance Industry Expert Bret Stone as President

SpatialKey Inc. (SpatialKey) announces Bret Stone has been appointed to President of SpatialKey. Mr. Stone, a long-time veteran of the insurance industry, previously held the position of COO at SpatialKey.

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Media Assets

SpatialKey is the essential insight hub for the P&C industry. We are reinventing the way insurers transform data into actionable intelligence. SpatialKey solutions amplify the value of insured data and expert content through unmatched user experiences and breakthrough geospatial business intelligence. Through focused analytics and agile visualizations, SpatialKey helps more than 100 insurers understand global risk accumulations and composition, respond to live catastrophe events, and manage exposure proactively at the point of underwriting.

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Media inquiries can be sent to Sarah Stadler, Director of Marketing. Please include the publication you are writing for and your deadline.
 
 
 

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