Irene made landfall in North Carolina early this morning, and NOAA updates continue to stream into SpatialKey's Hurricane Forecast App. The app allows insurers to analyze the latest hurricane forecast data in context with their exposures, without any support from IT, and without waiting in a queue of requests. We think it's truly changing how insurers can operate during events like this- and we're getting the same feedback from our early customers.
We've been tracking a sample insurance portfolio using the Hurricane Forecast App as Irene formed. On Thursday, two days ago, we reported that our forecasted exposure (in terms of total locations in the 50 knot windband) rose from 984 locations to 6,154 based on the updated NOAA forecasts, with total insured value rising from $152M to $1.6B.
Our forecasted exposure looks relatively similar to Thursday's report: There are now 6,690 insured locations in the 50 knot band (either historical or forecasted) representing $1.7B in total insured value:
We can also now get a better sense of our insured locations in the 64 knot band, as forecasted by NOAA: