Tracking Hurricane Irene - Rapid Exposure Forecasting for Insurers

by Tom Link on August 24, 2011

Our Hurricane Forecast App is in beta with several of our insurance customers. The app determines an insurers exposures within forecasted wind bands. Hurricane Irene is the first storm forecasted to make landfall since we've had customers using the app. Insurers are telling us the app is truly unique because it's providing more timely, visual, and interactive, reporting than they've had available to them in the past. Rather than waiting for analysts to manually build reports based on updated forecast information, SpatialKey automatically combines the latest NOAA forecasts with the insurer's policy data. Users through the organization can access interactive analysis on demand. They can even modify the storm path and SpatialKey instantly performs a "what if" analysis.

Irene mapped against our sample portfolio as of Wednesday evening. NOAA is predicting Irene will hit the North Carolina coast. Our sample portfolio has 984 locations within the 50 knot wind band, with a total insured value of almost $152M.

 

A zoomed in view shows the total insured value by zip code for our insured locations within the 50 knot wind band. Users can easily drill into any zip to see record level detail.

Topics: Hurricane, Insurance, Analytics, Event response

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