Evaluate the Impact of Winter Storm Juno

Winter Storm Juno arrived in the Northeast U.S. on January 27th. With significant flooding and increasing concern of potential roof collapse, insurers want to be adequately prepared to respond to this historic, mid-season snowfall. Areas like Worcester, MA, which saw historical snow accumulations of 35 inches, will be top of mind for insurers as forecasters suggest that this is likely the first of many storms to hit the region in the coming weeks.

For many insurers, quickly estimating the impact of each storm and deploying assistance to insureds are key differentiators. SpatialKey immediately responded with client access to snow precipitation maps from NOAA, delivered within SpatialKey’s Flood Analyst app, to provide immediate insight! Now, exposure management and claims teams can estimate the impact of heavy snowfall, manage stakeholder expectations, and mobilize efforts to assist insureds.


Leverage real-time snow precipitation data from NOAA (image above)


Understand potential exposure to heavy snowfall (image above)

Insurers can easily assess and interrogate portfolio exposure and composition by location count, total insured value, exposed limit and any other metric of interest. Analysts can also effectively communicate between teams and senior management via shared dashboards, leading to prompt action and results.


Identify insureds most vulnerable to damage (image above)

With SpatialKey Flood Analyst, insurers can gain a comprehensive view of exposure before claims even start to come in!  When a natural disaster hits – blizzard, flood, earthquake, hurricane, or tornado – SpatialKey is the fastest way to understand how you could be impacted.

SpatialKey’s flood solution helps Catlin write better risks

Press Release (excerpt) – January 28, 2015

SpatialKey’s expertise in delivering intuitive, speed-of-thought risk analytics and visualizations has enabled Catlin to write better risks and identify new opportunities. The SpatialKey Flood Underwriting application is built specifically for underwriters and helps them to evaluate flood exposure, avoid adverse flood accumulations and gain insights surrounding the quality and correlation of prospective risks relative to their portfolio.

“Our use of SpatialKey has improved the way we analyse and make underwriting decisions. We write new business with greater confidence and understanding of our flood exposure, creating competitive advantage and lower claims costs,” says Colin Panzetta, Senior Class Underwriter at Catlin.

SpatialKey’s flood solution integrates expert commercial flood maps across the globe, currently covering Europe, Asia, U.S. and Australia. This solution delivers purpose-built applications, tailored to underwriting and exposure management workflows, that provide focused insights to help insurers manage flood accumulations, develop views of risk and accelerate underwriting decisions.


Full press release can be accessed here.

Evaluate the impact of recent snowfall in the Northeast U.S.

With SpatialKey, insurers can quickly assess their potential exposure to the recent snowstorm in the Buffalo, NY area on November 21st. With increasing concern of potential roof collapse and flooding due to rising temperatures in the coming days, insurers want to be adequately prepared to respond to this unprecedented snowfall.

SpatialKey’s Flood Analyst app directly integrates NOAA’s real-time snow precipitation maps to deliver immediate insight to insurers! Now, exposure management and claims teams can estimate the impact of heavy snowfall, manage stakeholder expectations, and mobilize their efforts to assist insureds.

Leverage real-time snow precipitation data from NOAA
Leverage real-time snow precipitation data from NOAA

Understand potential exposure to heavy snowfall
Understand potential exposure to heavy snowfall

Insurers can easily assess the magnitude of portfolio exposure by location count, total insured value, exposed limit and any other metric. Using flexible filters, they can focus and prioritize their response by business segment, risk characteristics, individual policies, and/or locations. Further, analysts can effectively communicate between teams and senior management via shared dashboards, leading to prompt action and results.

Identify insureds most susceptible to damage
Identify insureds most susceptible to damage

Because SpatialKey is data agnostic, insurers can couple any expert content with SpatialKey’s intuitive workflows and rich analytics to derive real-time insights and enable faster, better decisions. In this case, insurers can leverage NOAA’s snow precipitation data within SpatialKey Flood Analyst to gain a comprehensive view of exposure before claims even start to come in.

When a natural disaster hits, whether that’s a snowstorm, earthquake, hurricane, or tornado, SpatialKey is the fastest way to understand how your exposure could be affected.

Analyzing Your Exposure Against the 2014 South Napa Earthquake

SpatialKey customers were able to quickly calculate potential exposure resulting from the 6.0 earthquake that struck near Napa, CA on August 24. The SpatialKey Earthquake App enabled ready access to earthquake shake maps published by the USGS within one hour of the quake, allowing our customers to respond quickly and confidently.

napa_pgv_spatialkey_560

North Shore Management, a MGA with specialization in writing E&S earthquake and flood risk, used the Earthquake App to respond to the event:

“SpatialKey’s cutting edge mapping ability allowed us to assess our exposure and identify exact locations of a possible loss within hours of the event. With this information, we were able to provide immediate feedback to our clients, which is invaluable to us after an earthquake.”

– Deke Emmerich, President of North Shore Management

napa_filtering_spatialkey_560

SpatialKey customers were able to quickly see the number of locations and total insured value at risk. Using flexible filters, they focused and prioritized their response on key segments of their business, individual policies, and/or locations that were exposed to the most severe shaking.

napa_exposed_limit_spatialkey_560

Commercial insurers were also able to quickly understand their exposure, net of policy coverages, providing a more accurate representation of loss potential, before the claims even start coming in.

When a natural disaster hits, whether that’s an earthquake, hurricane, or tornado, SpatialKey’s event analysis suite of apps are the fastest way to understand your exposure.