The Friday Five: Week of November 11, 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 use distance to coast data to inform your coastal risk

At a glance:

  • Coastal counties in the U.S. are home to over 126 million people, or 40 percent of the total U.S. population, with an estimated $36.4 trillion in exposure across 18 states. 
  • Globally, 2.4 billion people live within 60 miles of the coast. And, about 10 percent of the world’s population live in coastal areas that are less than 10 meters above sea level. 
  • If you’re writing or managing coastal risk, it’s imperative that you couple coastline data with coastal related risks. 

The Friday Five: Week of November 4, 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.

A maritime metaphor for P&C industry change

"The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails." – William Arthur Ward, Writer

New digital technologies, increased competition, and changing customer demands are forcing 61 percent of insurance carriers and financial services firms to move away from traditional business models, according to a recent global study of C-suite insurance and financial services executives. While we don’t need a study to tell us that digital disruption is real, what’s boggling is what the other 39 percent of organizations are (or aren’t) doing about it.  

Q&A with RedZone, wildfire modeler & hazard data provider

Factors like smoke and wind-driven embers were critical to the 2017 and 2018 California wildfiresand perhaps even more so to recent fires such as Kincade, Getty, and Maria. Yet, traditional incumbent models haven't historically accounted for smoke and floating embers. RedZone does. Lead by actual fire-fighting professionals who understand the nuances behind this growing risk, RedZone is at the forefront of innovating U.S. wildfire data science. 

The Friday Five: Week of October 28, 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.

Latest on California wildfires & resources for P&C insurers

Image: JOSH EDELSON/GETTY IMAGES

California is once again in crisis mode. The Kincade, Saddle Ridge, Tick, and Getty fires were spurred by high winds—some reportedly in excess of 100 mph (the equivalent of a Cat 2 hurricane)—causing California’s governor to declare a state of emergency. While the Getty Fire threatened high-value homes in Los Angeles, the Kincade Fire, in northern California, grew rapidly—burning 77,000 acres and forcing 200,000 people to evacuate. Likewise, proactive power outages have exacerbated fear and frustration and left millions of people in the dark across California, including some of our own here at SpatialKey.

The Friday Five: Week of October 21, 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.

Q&A with Location, Inc., crime risk data provider  

Looking for some innovative crime risk data? Look no further than Location, Inc. These curious problem-solvers are bringing insurers a more comprehensive view of crime risk through advancements in hyperlocal data. We had a chance to catch up with Dr. Andrew Schiller, CEO and Founder of Location, Inc., who sheds light on how their crime risk data is helping more than 150 carriers generate focused underwriting guidelines and combat fraudulent claims—with about a 10% reduction in crime loss ratio and adverse selection. Read on to learn how they’re bringing deeper insights to underwriting and claims.  

The Friday Five: Week of October 14, 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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