It’s important for insurers to have an advanced understanding of their exposure concentrations as well as concentrations where terror attacks are most likely to occur, so they can analyze their current book of business effectively and apply guidelines to select new business as it is underwritten. We’ve developed Rings and Target models within our Accumulations app to assess any type of accumulation, but many of our clients are turning to these models for a deeper understanding of terror accumulations related to their current portfolio or new business that they’re evaluating.
The Rings and Target accumulation models are powerful tools that help you:
Identify peak accumulations of exposure within your portfolio. Many legacy solutions leave gaps that SpatialKey has been able to fill with its industry-leading methodology, so you can manage and write with confidence, knowing no potential accumulations have been missed.
Analyze your portfolio relative to points of interest. Load any set of location references to analyze concentrations against, like a dataset of high-interest properties, points of interest, historical terror claims or activity, etc.
Look at a terror target dataset (locations identified as having terrorism risk such as skyscrapers, churches, train stations, etc.
Understand event history (e.g. terror target history, tornado touchdowns, claims experience points, etc.)
Evaluate accumulations against your own portfolio locations – run an accumulations analysis by drawing a ring around each point in your own dataset
Understand the composition of each accumulation by any attribute of your data and understand which policies and locations contribute to it
Rings and Targets, along with our other models in Accumulations, gives you the option to run your analysis based on specific metrics in your own dataset, on exposed limits, or on a specific area of interest within custom geographic extents. Don’t ignore the impact terror can have on your portfolio and get ahead of it by implementing these new models today. Reach out and we’ll get everything set up for you: firstname.lastname@example.org
Tom Link, Universal Mind CTO, presented the company's "state of the business" at a recent internal meeting. And of course, as SpatialKey's General Manager, he used SpatialKey to more visually highlight sales activities and trends, as well as answer employee questions on the fly.