The Friday Five: Week of June 3, 2019

If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.

10 hurricane takeaways from 2018

While the 2019 hurricane forecast is quite favorable (NOAA is predicting a 40 percent chance of a near-normal season with 4 to 8 hurricanes and 2 to 4 of them major), it comes with the reminder that it only takes one. Being prepared means being able to handle the trend of back-to-back hurricanes like we saw in 2017, along with the intensity of hurricanes like Michael and Florence in 2018. As you recall, Florence stalled and brought massive inland flooding to the Carolinas. And, six months after making landfall, Hurricane Michael was upgraded to a Category 5 hurricane by NOAA scientists who determined wind speeds had reached 160 mph at landfall.

The Friday Five: Week of May 27, 2019

If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.

7 key questions event response automation should answer for you

I've worked in the insurance industry for more than 35 years, and I’ve never been more energized about the possibilities before us than right now. Working in both personal and commercial lines, including excess property, I’ve seen how technology has enabled the practices of exposure management, underwriting, and claims to evolve from manual processes and “pins on a map” to complex, computer-driven workflows that enhance an insurer’s ability to provide superior products and services to their customers.

The Friday Five - Week of May 20, 2019

If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.

How to make your event response workflow run like clockwork

When catastrophes strike, you have no time. You’re under pressure to quickly understand the financial impact of an event and provide estimates to management. At the same time, you (and your team) are constantly tracking the event, processing hazard data, making sure exposure data is accurate, pulling reports, and (hopefully) beginning outreach to insureds. The last item—proactive customer outreach—may suffer though when the other to-dos consume your time and resources.

The Friday Five - Week of May 13, 2019

If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.

Why P&C insurers need a better way to operationalize hazard data

Our industry is facing two major problems related to hazard data:

  1. There are more hazard and event data providers producing higher resolution footprints for a larger number of catastrophic events than ever before.
  2. This new quantity and quality of data is difficult (and, in some cases, impossible) for insurers to process fast enough to deploy timely response to their insureds.

How disparate systems sabotage your event response

The ecosystem of hazard models and data is rapidly expanding, and this is exciting news for the P&C industry. But with all the hazard data that is being generated, especially during catastrophic events like hurricane and wildfire, comes the need for a more streamlined way to access it.

Data quality and modeling is continually improving—more accuracy, better science, higher resolution—which we have witnessed here at SpatialKey working with providers like KatRisk, JBA, RedZone, Swiss Re, Impact Forecasting, HazardHub, and a host of others for a number of years now.

The Friday Five - Week of May 6, 2019

If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.

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