SpatialKey and Impact Forecasting are giving insurers greater access to global peril data

by Sarah Stadler on September 20, 2016

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SpatialKey to include hazard data for more countries

SpatialKey now offers its insurance clients access to global peril data from Impact Forecasting, a catastrophe model development center within Aon Benfield. Designed to highlight potential risks for underwriters and exposure managers, SpatialKey geospatial analytic solutions now seamlessly integrate with expert content from Impact Forecasting. Insurers can now access the same, expert hazard data across both underwriting and exposure management disciplines, enabling them to make more confident business decisions.

“We’re excited to offer our clients access to a greater breadth of global hazard and risk data,” said Bret Stone, COO of SpatialKey. “Insurers rely on expert content to write and manage their exposure. Working with Impact Forecasting means our clients can easily access the information they need to inform their risk management strategies across the globe.”

In 2015, insured catastrophe losses totaled roughly $27 billion, according to the Insurance Information Institute. Risk experts, like Impact Forecasting, and geospatial insurance analytics providers, like SpatialKey, play an increasingly strategic role in helping insurers improve their bottom line. Both companies help insurers perform more accurate underwriting and risk assessment—two key factors in keeping insurers profitable.

Impact Forecasting provides data for eight kinds of perils in more than 60 countries, including emerging markets. With that data integrated into SpatialKey, insurers can identify new market opportunities and gain insights where their competitors lack understanding.

“We’re delighted to make our risk and hazard data models available to SpatialKey clients for the first time,” commented Adam Podlaha, CEO of Impact Forecasting. “Now, underserved markets can easily access, visualize, and analyze the data they need to better manage risk and write more profitable business.”

To learn more, please contact us.

Topics: Press Releases, Insurance, Underwriting

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