We can see that the majority of our forecasted exposure is in New Jersey counties:

Not the best news.  But it’s as important as ever that organizations can quickly forecast their exposure based on a rapidly changing weather forecast.

Does your organization need on-demand access to interactive exposure forecasting like this?  Contact us.

As hurricanes form and forecasts are updated, insurers work feverishly to put the event in business context. What could this event mean to our customers? Our financial position? Our shareholders? More accurate and timely assessments- and the ability to quickly and effectively disseminate this information- mean better event response- to customers and to the financial community.

We’ve had the opportunity to interview insurance companies about their needs and observe their workflows while forecasting exposure as storms are in progress.  In short, we found the process, well… broken- and expensive.  There’s too much of a gap between the time when new event forecast information is made available by forecasters like NOAA and when business users have actionable information.  And, the amount of time spent manually loading data and compiling reports is significant.  Further, the output leaves lots to desired.  Most reports consist of emailed spreadsheets with tables, and perhaps static map images.  Requests for alternative analysis, or filtered views to meet different objectives, require even more time and precious analytical resources.  With forecasts changing multiple times per day, these processes completely consume IT and analysts, and leave the business underserved.

There’s a better way.

At SpatialKey, we’re leveraging the latest technology and great user experience design to provide users throughout the enterprise with more interactive, informative, contextual analysis of forecasted exposures related to hurricane – in a self-service model that provides information faster, with lower burden on the organization.

Here’s how it works.

Are you ready?

If you’d like to provide your business with more timely, intuitive, contextual, self-service exposure analysis capabilities while freeing up staff from time consuming report creation, contact us to learn how easily you can deploy SpatialKey’s Hurricane Forecast App throughout your organization.

Following events such as earthquakes, property insurers rush to assess potential damage. Within moments of an event, SpatialKey’s Earthquake Impact app – part of our new Natural Perils suite – allows insurers to see potential impact of an earthquake on their portfolio.

This quake’s epicenter was about 40 miles northwest of Richmond. As you can see, only 3 properties in our sample portfolio fell within areas of an MMI shake intensity of 5 or higher, with a total insured value under $300k.

SpatialKey automatically obtains event data from USGS Earthquake Hazard Program’s ShakeCast system, and identifies which properties were exposed to which shake intensities. All if this is done without any IT intervention on the insurers part, meaning that users throughout the company can gain access to this information instantly, without bottlenecks or hassle.

The Earthquake Impact App, and the Natural Perils Suite it is a part of, are in beta with select customers. If you’re interested, please contact us for more information.

We took a look at this NOAA data in SpatialKey. Here’s a timelapse of EF-4 and EF-5 events over 60 years.

Insurers and risk managers can use this rich dataset to better understand exposure and risk of their policies. Please contact us if you’d like to have this dataset added to your SpatialKey subscription, or learn more about our insurance solution.

Did you know that half of our brain is hard wired for vision? Well what wakes the SpatialKey team up at night is that we want to create an application that leverages this crucial sense to its fullest potential. Human beings are visual thinkers, yet how come, in the business world, do we need to make so many critical decisions based on data that is presented in flat/non visual ways?

Our premise is that just because business decision makers have massive amounts of data doesn’t mean they can easily access its essential truths- truths that can reveal critical threats or opportunities that make/brake businesses. We need to see data represented in visual ways to quickly recognize patterns and understand complex events. Seeing that data visually allows us to ask better questions, get better feedback from others and ultimately get to the truths that give us the upper hand in decision making.

As a basic example: which format allows you to understand patterns better.

This?

Or this?

The answer is simple.

Spatialkey location intelligence software transforms static/flat row-and-column data into rich maps, reports, and visually interactive analytics that instantly reveal the truths business decision makers need. But instead of having to invest hundreds of thousands of dollars and months on implementation, SpatialKey is a cost effective and easy to use SaaS.

An audience that has recently discovered the business benefits of SpatialKey is the insurance industry. SpatialKey enables insurance analysts, underwriters, and brokers to finally use their wealth of geographical information to its fullest potential.

They can now bring together and visualize data about policies, claims, weather, terrain, geographical boundaries, and demographics. They can understand historical trends, current risks, and future opportunities in a more visual and interactive format. And ultimately, they are using the truths they discover to make decisions that maximize their bottom-line profitability.

For more information or to request a free trial- please contact us.

(CoreLogic provided the data displayed in this blog's images.)

SpatialKey changes all of that. Designed for hands-on use by the decision makers in your organization, the SaaS application breaks through barriers by giving insurers quick, easy-to-use data mapping and analysis capabilities—no programming or specialists required. Since there is no software to install or maintain, SpatialKey deploys instantly and can be used for a fraction of the cost of traditional GIS and location intelligence systems. And it complements the systems you already have in place.

With SpatialKey, you can bring in data from many sources and instantly visualize it on a map. Then you can analyze and report on your data on the fly to better understand patterns and correlations between policies, perils, demographics, and other factors. Ultimately, you’ll make decisions about capital management, underwriting, pricing, sales, and marketing that immediately benefit the bottom line.

Available either out-of-the-box or customized to meet your company’s specific needs, SpatialKey helps you realize the full potential of your insurance data without substantial system investment.

Use Cases:

* Manage risk exposure: In order to remain profitable and comply with government regulations, you’re constantly managing and monitoring risk exposure. SpatialKey provides highly interactive analysis of geographic data, allowing you to properly assess reinsurance protection needs.

* Catastrophic and large-scale event management: SpatialKey enables you to better assess and respond to large claim events such as floods and hurricanes. For example, import hurricane path data to assess probabilistic loss estimates. See how the event will affect local portfolio-holding exposure, and manage response resources accordingly.

* Maximize sales and marketing opportunities: By providing deeper insight into local demographic and policy characteristics, SpatialKey helps you develop more targeted marketing campaigns that deliver higher returns than traditional, blanket campaigns.

For more information or to start a new trial, please contact us

The great news is that analytical capabilities previously limited to larger companies with deep pockets are now available to a broader range of organizations. Plus, even larger companies are benefiting from new SaaS and cloud-based technologies that allow easier access to data often locked in legacy systems. More and more companies can therefore take a proactive approach to their decision making, an approach based on facts, vs the reactive approaches of the past.

Police report

Take law enforcement. When SpatialKey first launched, we immediately received interest from police departments looking into better approaches to crime fighting. Most already used sophisticated RMS or CompStat data systems, yet those systems did not take into account data from other systems or outside sources. For example gang data might be in one database, crime incidents in RMS, and offender information in a spreadsheet with no easy way to pull the information together to make better policing decisions. What they saw in SpatialKey was a way to get a better ROI on their investments by adding new dimensions to their data analysis capabilities.

With SpatialKey, a commander for example can bring in data from multiple sources and start looking for patterns: there are a string of robberies happening in a neighborhood- how can we curtail these? Who are the parolees or known offenders living within x miles of that area? Is there a specific time of the day that these crimes occur? In the police world, they call this Intelligence-led policing- the ability to leverage intelligence to guide crime fighting decisions. So if the commander sees a pattern in the time when crimes occur, increasing the number of patrol cars in the neighborhood at that time is a fact-based approach that hopefully will generate faster/cheaper results. And all it took was a couple minutes of analysis with SpatialKey vs randomly patrolling the area.

Well data is data is data. What we’ve seen in the past year is that a Sales VPs’ data analysis needs are actually not that different from a police chief’s (or any other decision maker for that matter). At the end of the day, what’s important for organizations is to find ways to pull together information critical to decision making and make it available to the people who need to actually make those decisions. So for one parolees, crime logs, or calls for service are key data points to look into to make fact-based decisions, for the other it might be sales leads, product sales, customer calls or customer demographics. And of course the types of data SpatialKey clients need to analyze is as varied as their industries.

The common thread we’ve found amongst all of our clients is that although they already have data analysis capabilities (most already use some form of BI or GIS system), those systems do not provide them the ad-hoc, “get the answer now” data analysis needs the addition of SpatialKey provides.

So although a Sales VP might be using Salesforce as a great CRM tool, there is no easy way to tie the salesforce data to other internal or external data sources to make better decisions to maximize sales opportunities. By incorporating SpatialKey with Salesforce, he/she can now bring in demographic information or competitive data into the picture. Are there patterns, geographic or otherwise, that can help guide sales staff deployment or lead closing activities? Is there a correlation between deal size and marketing activities? What works best to close leads in this geography vs the other?

In a fast-paced world when we all need an answer yesterday, the benefit they see in SpatialKey is that not only can they leverage knowledge they never had before, but they also don’t need to wait on data analysis gurus to get answers. They can do that analysis themselves- on the fly. Many actually use SpatialKey in meetings so that “what if” questions can be answered immediately. Maybe we should call this Intelligence-led sales…..

Please visit spatialkey.com for more information. We also offer a free trial if you want to take a spin of the app with your own data.

Analyzing conflicts via maps is not new. For centuries generals and politicians have moved pushpins on maps to help guide troop movements, understand enemy positions, or help avert conflict altogether. What’s new to conflict and crisis mapping are the tools now allowing military, politicians, and humanitarian groups better understand what drives political instability and violent conflict, and better address it.

One of the more rewarding uses of SpatialKey has been driven by a team led by Dr Clionadh Raleigh. Dr Raleigh and team members from the PRIO Center for the Study of Civil War created the ACLED (Armed Conflict Location and Event Data) database. The ACLED project team’s objective was to provide a better read of conflicts by understanding the relationships between combatants, social groups, economies, and even natural phenomena such as droughts or floods. Ultimately their goal is to achieve a more stable, just, and peaceful world.

Crisis mapping

Thanks in part to funding from the World Bank, ACLED provides up-to-date, immediately accessible analytics and maps for over 50 countries in the developing world to help academics, the World Bank, NGOs, aid agencies and more gain insights on civil war dynamics. The database includes for example the date and location of conflict events, event types, rebel and other groups involved, as well as specifics on battles, killings, riots, and recruitment activities by rebels, governments, militias, armed groups, protesters and civilians, and much more.

The difficulty of creating a central database for crisis mapping is that it needs to bring together vast amounts of diverse information coming from a wide variety of sources. In technical terms: a data mess. Since neither Dr Raleigh nor the users of the ACLED database are trained GIS (Geographic Information System) professionals, they decided to use SpatialKey to centralize and analyze the data. SpatialKey is web-based and does not require special training or programming. All users need is an internet connection to immediately create highly visual maps and reports.

The benefit of using SpatialKey is that each agency using ACLED data can now create maps to help answer totally different questions, no data specialists required. Some groups need to better understand how to mitigate conflict in a specific area, others want to find the safest zone to place a refugee camp, and yet others want to understand the impact of possible floods and droughts on a conflict so they can arrange their resources accordingly.

This has allowed researchers to analyze data with more precision, as well as create a more collaborative environment to help the researcher community create predictive models of civil war. It has also helped challenge assumptions. For example Dr Raleigh says that many people considered civil wars to be primarily rural events, but SpatialKey has showed that these conflicts tend to happen close to larger cities, as rebel groups attempt to engage with the military. She considers that the combination of ACLED and SpatialKey goes a long way toward advancing the field- it provides the next generation in conflict analysis and crisis mapping.

If you cannot attend Doug’s session, please read our case study on the use of SpatialKey by ACLED.

For more information on SpatialKey, or to start your free trial, please go to spatialkey.com.

That’s the business SpatialKey is in. We’re allowing people who in the past may not have been on the front lines of data analysis to take their spreadsheets, CRM data, salesforce.com data and more, map it, analyze it via simple click and drag tools, and extract meaning from it. Our goal is to help people -regular business people, not just data specialists- ask questions of their data, understand trends, and make better decisions, faster.

Police report

The great advantage of working at SpatialKey is that our clients come from such a diverse variety of organizations- each with totally different problems to address, and data analysis needs. We’re helping agencies better understand war zones and address conflict, allowing pharmaceutical companies analyze vaccine distribution efficiencies, or sales departments gain deeper insights into their sales funnel. Our partner Social Compact and the Citi Foundation recently launched a new service based on SpatialKey to help drive investments to undeserved communities. We’re even helping police departments get more bad guys off the streets by allowing them to better understand and address crime patters. The list goes on. Right now for example,  I’m working on a case study with a client in the energy sector. They are a publicly traded company that buys excess electricity from schools, businesses, etc and sells it back to utilities or grid operators when energy use spikes. In their case, they use SpatialKey to better monitor and analyze energy capacity and therefore more quickly respond to energy need changes. SpatialKey provides them insight that they could only dream of in the past. All that with no programming, nor expensive hardware, training or software investment.

Marketing team report

The common thread among all our clients is that they have tons of data, most of it coming from a variety of sources. They know that they could do a better job putting the pieces of the puzzle together to make better decisions, but they don’t have the energy nor budget to invest in complicated tools. Each one of our clients were amazed when they saw their first demo of SpatialKey. They suddenly saw their data like never before and could not believe such a simple solution had so much power. The power they needed to drill down into their data and make better decisions.

Crisis mapping

The other thread we’re seeing is that once SpatialKey is used within an organization, it does not take long for others within the same company to want to start using it too. Take the example of our energy client. They immediately saw that they could use SpatialKey to track not only kilowatts, but also leads, prospects and more.

Our engineering team is hard at work developing new functionalities into SpatialKey. We all know that the future is about more data, not less, so we want to provide the tools needed to allow our users to see the pins in the haystack that will help guide their decisions. Looking forward to seeing what other client uses are coming our way. Want to find out more? Go to Spatialkey.com or contact us.