With SpatialKey, insurers can quickly assess their potential exposure to the recent snowstorm in the Buffalo, NY area on November 21st. With increasing concern of potential roof collapse and flooding due to rising temperatures in the coming days, insurers want to be adequately prepared to respond to this unprecedented snowfall.
SpatialKey’s Flood Analyst app directly integrates NOAA’s real-time snow precipitation maps to deliver immediate insight to insurers! Now, exposure management and claims teams can estimate the impact of heavy snowfall, manage stakeholder expectations, and mobilize their efforts to assist insureds.
Insurers can easily assess the magnitude of portfolio exposure by location count, total insured value, exposed limit and any other metric. Using flexible filters, they can focus and prioritize their response by business segment, risk characteristics, individual policies, and/or locations. Further, analysts can effectively communicate between teams and senior management via shared dashboards, leading to prompt action and results.
Because SpatialKey is data agnostic, insurers can couple any expert content with SpatialKey’s intuitive workflows and rich analytics to derive real-time insights and enable faster, better decisions. In this case, insurers can leverage NOAA’s snow precipitation data within SpatialKey Flood Analyst to gain a comprehensive view of exposure before claims even start to come in.
When a natural disaster hits, whether that’s a snowstorm, earthquake, hurricane, or tornado, SpatialKey is the fastest way to understand how your exposure could be affected.