If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.
Quote of the Week:
“We all know that what happened in the past is not necessarily what will happen in the future...advanced analytics lets us take advantage of real-time data and advanced computing power to model the exposures of the future and quantify the risks they will produce.”
-Kassie Bryan, head of P&C Solutions for Swiss Re
I'll huff & I'll puff & I'll blow your house in (or not): "Fortified" houses made to withstand extreme winds and weather—think hurricanes, tornadoes, floods—are now in demand at a cost of about 7-9% more, and consumers are willingly paying! Yeah for resilience.
Data is a problem...and an opportunity: Hazard data choice is rapidly expanding for P&C insurers and that’s a good thing, but with all the data comes the need for better ways to access it
Countdown to hurricane season = 15 Days: But, El Niño has a 70% chance of sticking around through August, which means it could shut down tropical storms and hurricanes in the Atlantic when they'd normally be peaking. Of course it only takes one, so be ready with these best practices
You can’t handle all the data! And, you don’t have to...The new world of catastrophe risk requires P&C insurers to implement technology that will automate the process of operationalizing hazard data...and the good news is, it can be easily outsourced
Missed last week’s Friday Five? Check it out here.