Hail is scary and it hits home for many of us. SpatialKey’s home state of Colorado is no exception to hail risk. Our downtown Denver headquarters reside in a heavy hail risk zone—and so do the homes of many SpatialKey team members.
HazardHub data shows hail risk at SpatialKey headquarters in downtown Denver
We’ve been hard at work enhancing our Accumulations app, so you can confidently assess and manage risk across your portfolio. Accumulations delivers analytics and visualization to help you quickly identify peak portfolio accumulations, understand risk composition including policy and location drivers, and monitor capacity utilization and diversification. Leverage these analytics to monitor and adjust your underwriting strategy, evaluate bomb blast scenarios, and understand the impact of acquisitions.
The decision to underwrite a property is a complex one, and access to location-specific information is critical. When you're thinking about adding a high-dollar policy to your portfolio, you need to be able to weigh the risks and understand how this new exposure will fit into your current book of business. All too often these risk factors are difficult to access and even harder to put into context.
Insurers and reinsurers alike are always on the lookout for tools that can provide them better predictive analysis and modeling of risk exposure, for example when faced with upcoming hurricanes, floods or other natural disasters. How will their policy portfolio be affected by a hurricane? Where should they dispatch local agents after a natural disaster? What level of reinsurance should they get when faced with new risk? All these decisions can make or break a company's bottom line as well as their customer service. Insurers use sophisticated modeling and forecasting tools to make decisions, but these tools are usually only accessible by trained analysts and getting reports takes hours if not days to receive.