Since it began on May 1, the Fort McMurray wildfire in Alberta has torched at least 500,000 acres and destroyed about 1,600 homes and buildings. As the fire continues to burn, SpatialKey clients can access the widespread wildfire’s perimeter data from RedZone. In a matter of minutes, SpatialKey clients can identify their insureds’ locations in and around the wildfire.
RedZone’s perimeter data helps insurers form a more complete view of their potential exposure within what is likely to be the costliest natural disaster in Canada’s history. Early damage estimates range from $5 billion to $7 billion.
Firefighters are still working to control the massive blaze, which kicked off Canada’s wildfire season a few weeks earlier than usual, raising concerns about the drier summer months to come.
Just as troubling, wildfires are on the rise across western North America. Insurers are using SpatialKey to analyze their claims from past events—including the 2013 Colorado and 2015 California wildfires—to better understand potential impacts to their portfolio.
Are you ready for wildfire season? To learn how SpatialKey can help you respond faster to events and understand loss potential, contact us today.