Hurricane Irma: Where to go for the best information

Just weeks after Hurricane Harvey devastated much of Texas and Louisiana, causing record-breaking floods and rampant destruction, we’re already preparing for Hurricane Irma. The storm is projected to make landfall in Florida this weekend as at least a Category 4 hurricane. Based on wind speed, Irma is among the strongest Atlantic hurricanes on record. And, with severe damages in the Caribbean already, Irma will be one to watch very closely. In a time of chaos and uncertainty, we must all work together—insurance carriers, commercial providers, government, and scientists alike—to share as much information as we can to protect policyholders and portfolios. With this in mind, we’ve created a list of SpatialKey-specific resources as well as our top external resources:

Hurricane Harvey: What now?

Severe flooding in Texas caused by Hurricane Harvey (businessinsider.com)

Since progressing to Category 4 strength over the weekend, Hurricane Harvey has regressed back into a tropical storm. As predicted, rainfall and flooding have taken over as the main threats from Harvey, making this storm far from finished.

Harvey grew up fast, from tropical depression to hurricane

 Track of Hurricane Harvey and sample portfolio exposure 

When Hurricane Harvey makes its eventual landfall late Friday evening into Saturday morning, it’s expected to be the first Category 3 hurricane to hit Texas since Hurricane Bret in 1999. The storm grew quickly, with 30 mph winds developing into 80+ mph winds in just a few days.

InsurTech is an epic climb: Are you a contender?


“If you try to win, you might lose, but if you don't try to win,
you lose for sure!” -Jens Voigt

Alpe d’Huez is a legendary climb, world-renown by cyclists. A relentless 8.5 miles with 21 hairpin bends and 8.1 percent gradient, it’s been a stage that can make or break the Tour de France for riders. But, it’s not included in every Tour. This epic climb only comes once in awhile. And, what’s important about it, is the decisiveness of Alpe d’Huez as a stage in determining the overall leaders.

Are you prepared to look hurricane season in the eye?

Satellite image of Tropical Storm Cindy, courtesy of hattyphoto

With an above-average 11 to 17 named storms predicted this hurricane season, members of the P&C insurance industry need to be fully equipped to weather the storms. We know it only takes one bad storm to impact a nation’s economy for months, even years. Hurricane Matthew (2016) was the first hurricane to reach Category 5 since 2007, causing $10 billion worth of damage in the U.S. and displacing thousands. Not only that, it was the 13th billion-dollar weather disaster in the U.S. last year.

NFIP Privatization: New Opportunities Flooding the Insurance Industry

With the NFIP $24.1 billion in debt, the floodgates are opening to an epic, never-before-seen private flood insurance market. Now more than ever, underwriting and risk selection are not only paramount, but clear areas for competitive advantage as the market heats up.

Punxsutawney Phil predicts it's time to reevaluate your underwriting approach

So, what does Groundhog Day have to do with underwriting?

On February 2nd, Punxsutawney Phil saw his shadow. And, you're probably thinking, "So what does this have to do with my underwriting?" Just bear with the logic for a moment….Do you know how often Phil’s forecasts have been right? If he were right say even 70-80 percent of the time, would you see animal predictions as rooted in science? A sound piece of data perhaps? 

Hurricane Patricia Shaping up to be the Strongest Hurricane in History

Rapidly turning into a category 5 storm overnight, Hurricane Patricia is nearing the coast of Mexico with wind speeds of up to 200mph. Hurricane Ike topped out at 143mph, and Andrew at 175mph, leaving Patricia as the strongest hurricane ever recorded. With landfall expected this afternoon or evening, properties are bound to be destroyed, and insurers are preparing themselves for the impact.

SpatialKey Selected by ProSight Specialty to Advance Underwriting Practices Through Data Analytics and Visualization

London, October 20, 2015 – SpatialKey Inc. (SpatialKey) is providing ProSight Specialty Underwriters Ltd. (ProSight) with intuitive, geospatial analytics and visualization for its underwriting team and coverholders.

Analyzing the floods in France: how is your portfolio being impacted?

A couple of weeks have passed since the flooding along the French Riviera on October 3rd and 4th, and re/insurers are inundated with claims and working to quantify their exposure and lend assistance to insureds.

Learn how to get started with SpatialKey today