Punxsutawney Phil predicts it's time to reevaluate your underwriting approach

So, what does Groundhog Day have to do with underwriting?

On February 2nd, Punxsutawney Phil saw his shadow. And, you're probably thinking, "So what does this have to do with my underwriting?" Just bear with the logic for a moment….Do you know how often Phil’s forecasts have been right? If he were right say even 70-80 percent of the time, would you see animal predictions as rooted in science? A sound piece of data perhaps? 

Whether you buy or build, getting ahead depends on leveraging the right experts

Expertise can mean many things. Our last post from our CTO Brandon Purcell, How collaborating on technology changes the buy vs. build debate once and for all, touched on this important, but often overlooked part of this equation. Brandon pointed out that to obtain a solution that truly helps you understand your data and identify the insights you need to make decisions, you have to collaborate with experts. I wholeheartedly agree. But, I would add that you have to use the right kind of expert—with the right skill set—to successfully build and deploy a data analytics solution that will be readily adopted by your team.

Hurricane Matthew by the numbers: What we know so far

 

Blue skies may be back, but the impact from Hurricane Matthew is still being felt. As your claims team works around the clock managing your event response, information on the extent of the damage is critical to your ability to respond as quickly as possible.

How collaborating on technology changes the buy vs. build debate once and for all

Our last post by CEO Tom Link, It’s time to evolve how you collaborate in a data-driven world, got me thinking about the importance of partnerships. Who you collaborate with to meet your business objectives matters, especially when it comes to technology. Having the right UX, GIS, and R&D resources on your side can mean the difference between amazing usability and software that slows you down.

SpatialKey and Impact Forecasting are giving insurers greater access to global peril data

SpatialKey to include hazard data for more countries

SpatialKey now offers its insurance clients access to global peril data from Impact Forecasting, a catastrophe model development center within Aon Benfield. Designed to highlight potential risks for underwriters and exposure managers, SpatialKey geospatial analytic solutions now seamlessly integrate with expert content from Impact Forecasting. Insurers can now access the same, expert hazard data across both underwriting and exposure management disciplines, enabling them to make more confident business decisions.

How to be the 007 of underwriting

 

Photo credit: fullhdpix.com

New Hire Underscores SpatialKey’s Continued Commitment to Information Security

 

We’re pleased to announce that we’ve hired K en Morford as SpatialKey’s Information Security Officer. In this role, Ken is re sponsible for ensuring the company’s enterprise programs are adequately protected—and for aligning SpatialKey’s security initiatives with its clients’ business objectives.

Brussels Attack Highlights Need for Sophisticated Insurance Analytics Tools

Photo credit: REUTERS/Charles Plateau.

Hurricane Patricia Shaping up to be the Strongest Hurricane in History

Rapidly turning into a category 5 storm overnight, Hurricane Patricia is nearing the coast of Mexico with wind speeds of up to 200mph. Hurricane Ike topped out at 143mph, and Andrew at 175mph, leaving Patricia as the strongest hurricane ever recorded. With landfall expected this afternoon or evening, properties are bound to be destroyed, and insurers are preparing themselves for the impact.

SpatialKey Selected by ProSight Specialty to Advance Underwriting Practices Through Data Analytics and Visualization

London, October 20, 2015 – SpatialKey Inc. (SpatialKey) is providing ProSight Specialty Underwriters Ltd. (ProSight) with intuitive, geospatial analytics and visualization for its underwriting team and coverholders.

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