SpatialKey Inc is pleased to offer its insurance clients access to wildfire risk data from RedZone. RedZone provides the most accurate, up-to-date wildfire intelligence for underwriters, now immediately available in SpatialKey’s geospatial insurance analytics platform.
Update: After our original publication of this post on Tuesday November 21, 2016 the earthquake was changed from a 6.9 magnitude rating to 7.4, and that change is reflected in our headline and post copy.
2016 has been a year of growth and evolution here at SpatialKey from enhancing our solution for underwriters, actively monitoring catastrophic events that impacted insurers, and bringing on more 3rd-party data partnerships to fuel our solutions. With 2017 on the horizon, now is the time to reflect on the events of 2016 and understand how they can inform your strategy for 2017.
SpatialKey Inc. (SpatialKey) is pleased to offer its insurance clients access to crime risk data from Location, Inc., a leading provider of U.S. location based analytics. Location, Inc. specializes in providing hyperlocal crime risk data to help underwriters understand, measure and select risk, and calculate premiums with greater accuracy. Exposure managers can also use Location Inc.’s crime risk data to quickly identify and manage adverse portfolio accumulations.
SpatialKey Inc. (SpatialKey) is pleased to offer its insurance clients access to hazard data from HazardHub, a risk data provider. HazardHub specializes in developing proprietary models and processing past event data to help underwriters and exposure managers better understand the probability of future property damage, in order to write profitable business and maintain a strong portfolio.
New European Windstorm event response app available now
Willis Re, the reinsurance division of Willis Towers Watson (NASDAQ: WLTW), the global advisory, broking and solutions company has collaborated with SpatialKey Inc. to launch a new European Windstorm app. This powerful new event response application integrates data from multiple data sources, including EuroTempest—insurance industry experts in forecasting and reporting on European windstorm activity.
Expertise can mean many things. Our last post from our CTO Brandon Purcell, How collaborating on technology changes the buy vs. build debate once and for all, touched on this important, but often overlooked part of this equation. Brandon pointed out that to obtain a solution that truly helps you understand your data and identify the insights you need to make decisions, you have to collaborate with experts. I wholeheartedly agree. But, I would add that you have to use the right kind of expert—with the right skill set—to successfully build and deploy a data analytics solution that will be readily adopted by your team.
Blue skies may be back, but the impact from Hurricane Matthew is still being felt. As your claims team works around the clock managing your event response, information on the extent of the damage is critical to your ability to respond as quickly as possible.
Our last post by CEO Tom Link, It’s time to evolve how you collaborate in a data-driven world, got me thinking about the importance of partnerships. Who you collaborate with to meet your business objectives matters, especially when it comes to technology. Having the right UX, GIS, and R&D resources on your side can mean the difference between amazing usability and software that slows you down.
Photo credit: Mark Wilson via Getty Images.
Now that Hurricane Matthew is hovering about 35 miles off Florida’s east coast, it’s time for your claims team to begin estimating potential exposure and jump into action. The category 3 hurricane is expected to pack a punch this weekend with a powerful combination of storm surge flooding, rainfall flooding, and destructive winds impacting areas from northeast Florida to the southern part of North Carolina. Jacksonville, Savannah, and Charleston are expected to be hard hit. While it’s too early to say what will happen, the level of risk is clearly elevated and insurers are on high alert.