Ring and Target Accumulations help you avoid and manage excessive exposure to terrorist activity

Posted on July 14, 2015 by Sarah Stadler

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SpatialKey Accumulations Rings Image

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: sales@spatialkey.com

 

 

Posted in Insurance Intelligence, Insurance, Visualization, Analytics, Data visualization | Leave a reply

SpatialKey delivers new U.S. flood solution!

Posted on June 25, 2014 by Bret Stone

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screenshot4 - replacement zoomed

Last week, we announced our partnership with KatRisk LLC to deliver an innovative U.S. flood solution. Re/insurers can now easily identify and monitor portfolio flood accumulations and optimize risk selection at the point of sale.
This solution is delivered in the new SpatialKey Flood Analyst app and further extends the value of the Flood Underwriting app.

We have integrated KatRisk’s U.S. riverine and surface water flood data, available at 10m and 30m resolutions. Additionally, the KatRisk flood risk data can be complemented with coastal surge data from NOAA, accumulated by USGS hydrological units, and compared to FEMA flood zones to help re/insurers build intuition and calibrate their views of risk.

 

Dag Lohmann, CEO and co-founder of KatRisk, said: “We are excited to team with SpatialKey to deliver our detailed and comprehensive flood risk data. The KatRisk 10m resolution data is unique in its detail and breadth, modeling both riverine and surface water flooding in all areas of the contiguous United States with no lower limit on modeled catchment size. The collaboration between KatRisk and SpatialKey has put the SpatialKey application ahead of the curve in being able to rapidly visualize and analyze our highly detailed and expansive data sets.”

To read our full press release with KatRisk, click here.

To learn more, please contact us.

Posted in Insurance Intelligence, Insurance, Underwriting, Flood, Exposure Management, Analytics | Leave a reply

SpatialKey is pleased to be partnering with RMS to integrate SpatialKey analytic solutions with RMS(one)

Posted on June 3, 2014 by Bret Stone

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Press Release (excerpt) - May 29, 2014

RMS(one) Developer Network enables new applications leveraging RMS(one) analytics and its position as a system of record for exposure and risk data

RMS, the world’s leading catastrophe risk management firm, announced that the first commercial partners have joined the RMS(one) Developer Network and are building applications that leverage the RMS(one) application programming interface (API).

These apps extend the range of risk management capabilities available to users of RMS(one), the industry’s first and only real-time exposure and risk management environment. The RMS(one) Developer Network, the first of its kind in the industry, allows developers to tap into the wealth of exposure and risk data and analytics available on the RMS(one) platform and to bring innovative solutions to market. Apps are being developed by individual developers, start ups and large companies alike to extend the capabilities of the RMS(one) platform.

“Members of the RMS(one) Developer Network are building apps that unlock the possibilities of the RMS(one) platform in a variety of ways, from visualization to advanced analytics and pricing tools,” said Alex Barnett, vice president of developer relations, RMS. “By developing apps and integrating data on the RMS(one) platform, clients can create a single source of truth for exposure and risk data.”

New partners include SpatialKey, whose app allows analysts and executives in the insurance and reinsurance industries to visualize and analyze exposure and risk data, and Analyze Re, whose product helps increase efficiency of capital deployment through its portfolio-based risk metrics and optimization platform.

The RMS(one) Developer Network is available to clients and third-party developers and provides all of the tools necessary to build apps leveraging the RMS(one) platform. RMS(one) Developer tools include the RMS(one) API and RMS(one) Model Development Kit (MDK), which enables RMS client and partner developers to integrate tools, applications and models with RMS(one).

“We are thrilled to seamlessly integrate SpatialKey solutions with RMS(one), making risk intelligence readily accessible and extending analytic and operational value to our mutual clients,” said Tom Link CEO of SpatialKey. “RMS is the industry leader in catastrophe modeling and is uniquely positioned with RMS(one) to undertake this tremendously ambitious and exciting ecosystem approach.”

“Only the RMS(one) ecosystem gives us the exposure in the industry we need to be able to reach more customers,” said Adrian Bentley, CEO of Analyze Re. “Working with RMS gives us the credibility as a start-up that we wouldn’t have if we had not been a part of the RMS(one) ecosystem.”

Full press release can be accessed here.

Posted in Insurance Intelligence, Insurance, Visualization, Partnerships, Analytics | Leave a reply

SpatialKey partners with Innovation Group to deliver insight and extended business value to insurers.

Posted on February 19, 2014 by Bret Stone

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Press Release - Feb 19, 2014:

INNOVATION GROUP AND SPATIALKEY ANNOUNCE STRATEGIC PARTNERSHIP

Innovation Group is pleased to announce a new strategic partnership with SpatialKey that combines the expertise of two leading insurance industry data analytics solution providers.

The need for data analytics is a high priority for insurers as it drives informed decision-making and more effective risk management. The next logical step is to provide that data in delivery-focused, intuitive, analytic visualizations which increase the usability and power of the best intelligence available, the insurer's data. This new partnership makes that next step a reality by integrating the data capabilities of Innovation Group's Insurer Analytics with SpatialKey's geospatial and visualization technology.

"We are excited about this partnership and our ability to join forces with SpatialKey to further support our customers," said Euan King, CEO North America Insurer Software for Innovation Group. "Insurer Analytics has already brought enhanced insights to insurers and this will further expand their knowledge and improve their utilization of data. Our goal is to provide Innovation Group customers with cutting-edge solutions that enable them business improvement through knowledge and efficiency. This alliance supports that mission through additional benefits for both underwriting and claims."

Insurer Analytics transforms data through an automated governance process into relevant and actionable business information from policy through claims. SpatialKey adds an additional dimension to these capabilities through advanced visualization capabilities, making that information more accessible and usable for business critical processes, like catastrophe event response and underwriting. Available immediately, the integration of the two solutions allows users of both Insurer Analytics and SpatialKey to not only provide easy access to business users, but allows them to trust the data displayed.

"By bringing together Insurer Analytics with SpatialKey, insurers can keep all of their data in one place and seamlessly pass data to SpatialKey's Insurance Intelligence solution to more efficiently turn data into intelligence and intelligence into action," said Tom Link, CEO of SpatialKey. "As stewards to the evolving insurance ecosystem, we are thrilled to partner with Innovation Group to deliver advanced and relevant analytics to our clients. This partnership further reinforces our mutual commitment to delivering value to the insurance industry."

Posted in Insurance Intelligence, Insurance, Visualization, Underwriting, Partnerships, Analytics | Leave a reply

A new way to visualize your portfolio exposure!

Posted on January 8, 2014 by Bret Stone

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We are excited to release our latest innovation in SpatialKey Insurance Intelligence, the SpatialKey Portfolio Composition application! Now, you can efficiently analyze and consistently communicate portfolio health to stakeholders with unmatched access and ease of use to help you stay on top of your business.

With SpatialKey Portfolio Composition, your entire organization can derive intelligence captured in your most recent portfolio data. This application illuminates patterns and trends in exposure and loss data using rich visual analytics, all in one place. Having access to these insights, anytime and anywhere, empowers your organization with a focus on what's important.

To learn more, please take a look at the SpatialKey Portfolio Composition product sheet and watch the demo video below for a quick orientation.

As always, we would love to hear from you! If you want more details as to how this purpose-built solution could add value to your operations, please contact us.

We hope this application starts your 2014 with enhanced insight!

Posted in Insurance Intelligence, Mapping, Insurance, Exposure Management, Analytics | Leave a reply

SpatialKey speaks to the value of its Insurance & Market Intelligence solutions

Posted on October 3, 2013 by Bret Stone

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While calls haven’t been rolling in from Hollywood talent scouts [yet], the SpatialKey executive team is thrilled to have finally made their film debut! If you want to learn more about SpatialKey, the business application of its products, and its culture of innovation, take a look at our new product videos! You will gain more insight into the SpatialKey Insurance Intelligence and Market Intelligence solutions, as well as a general overview of the SpatialKey Platform.

If you don't want to wait for the link to load to our website, enjoy instant gratification here...

Insurance Intelligence
Whether you’re insuring individuals, businesses or other insurers, you need to make optimal use of your risk capital to enhance profitability and resiliency. You need efficient processes and the right analytics.

Underwriting
Through SpatialKey, you can exploit faster, better intelligence to ensure more satisfying experiences for customer prospects, higher underwriting profits, and reduced downstream costs associated with claims.

Exposure Management
SpatialKey delivers a full suite of unbiased, unprecedented visual analytics tools to empower your organization with risk intelligence that enhances both your resiliency and your bottom line.

Event Analysis
SpatialKey helps you evaluate and manage potential outcomes with unparalleled ease of use, calibrating your view of risk, enabling data to be shared across your organization, and accelerating your response to live catastrophes.

Market Intelligence
Whether your product is a good or service, serving the needs of a business or individual, you need to quickly evaluate market trends and opportunities, understand your customer, and mobilize your growth strategy. With SpatialKey’s unmatched visual analytics, you can quickly build a competitive advantage and accelerate decision making.

SpatialKey Technology & Innovation
SpatialKey gives you rapid analytics and agile visualizations to help you elevate your organization with enhanced insight and intuition.

If you would like more information, please contact us.

Posted in Insurance Intelligence, Mapping, Insurance, Underwriting, Event Analysis, Technology, Exposure Management, Sales & Marketing, Analytics, Market Intelligence, Event response | Leave a reply