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.
Last week, Chile was shaken by a significant earthquake along its central coast. According to catastrophe modeling firm AIR Worldwide, an estimated $600-$900 million in insured losses is expected.
With over 5,500 major hail storms in 2014, insurers need to quickly assess the impact of hail events and expedite assistance to customers that may have been affected. SpatialKey Hail is seamlessly integrated with Weather Verification Services from CoreLogic® to help you quickly assess the potential impact of recent or past hailstorms, understand damage severity based on hail size, and ultimately, expedite relief to your insureds. You now have access to industry-leading analytics and expert hail data in one place without the limitations of time-consuming processes and clunky legacy software.
We’ve been hard at work enhancing our Accumulations app, so you can confidently assess and manage risk across your portfolio. Accumulations delivers analytics and visualization to help you quickly identify peak portfolio accumulations, understand risk composition including policy and location drivers, and monitor capacity utilization and diversification. Leverage these analytics to monitor and adjust your underwriting strategy, evaluate bomb blast scenarios, and understand the impact of acquisitions.
SpatialKey, Inc. ("SpatialKey") delivers risk intelligence to RLI Insurance Company’s (“RLI”) exposure management and underwriting operations through robust portfolio data analytics and enhanced decision support at the point of underwriting
It's time for another release! Over the last few months, we've been working both behind the scenes and on the user interface to enhance your experience with SpatialKey. The new release focuses on improvements to getting data into SpatialKey and visualizing it in a dashboard.