Risk Exposure Management
Reduce PML exposure for greater profitability
| Overview | Solution | value to you | Next Steps |
Insurance carriers need an improved understanding of risk to manage their exposure
Better understand risk factors
.png) | Superstorm Sandy increased the need for location intelligence and decision support. PropertyCasualty 360 |
 | The ability to identify, assess and manage risk is often indicative of an organization’s ability to respond and adapt to change. PricedWaterhouseCoopers |
 | Unable to depend on investment income, carriers have been playing closer attention to underwriting and raising prices for coverage accordingly. Deloitte Center for Financial Services |
Better understand real-time PML from all disasters
 | Volatility in weather patterns increases potential for claims losses and reduced profits. Ernst & Young |
 | Insured value of properties in coastal U.S. counties is now greater than $10.64 trillion. AIR Worldwide Corp. |
 | Meteorologist predict more active hurricane seasons over the next few years. NOAA |
Improve risk assessments and policy pricing
 | Financial and economic upheavel has produced volatile investment returns and price-sensitive customers. Strategy Meets Action (SMA) |
 | Difficulty in measuring the company’s current exposure to catastrophes threatens profitability, financial viability, and customer retention. American Academy of Actuaries |
 | Insurers are faced with the on-going inability to accurately forecast the cost or exposure of new risks. Deloitte Center for Financial Services |
A single view of risk can help drive competitive advantage
A complete geographic risk analysis solution providing insight into individual and aggregate exposure from catastrophic natural or man-made disasters in a near-real time manner.
Insurance carriers need an improved understanding of risk to manage their exposure
We offer a complete geographic risk analysis solution providing insight into individual and aggregate exposure from catastrophic natural or man-made disasters in a near-real time manner.
Capabilities include:
- Geographical analysis and visualization of risk across the enterprise
- Understanding of near-real time exposure and impact of catastrophe on the insurer’s book of business
- Compliance with new risk management legislation/regulations
Insurance carriers need an improved understanding of risk to manage their exposure
Carriers are beginning to leverage technology solutions for a comprehensive risk management solution – one that helps carriers overcome siloed operational structures, IT systems and data sources to integrate information across the enterprise, ensure its quality, enrich it with third-party data – and then present a single, map-based view of operational risk in near-real-time.
Underwriters, CAT Modelers, Actuaries and other executives will be able to:
- Increase their understanding of a policy in context to the company’s book of business
- Better understand probable maximum loss to evaluate the impact of a catastrophe their business
- Provide a near-real time perspective on the company’s exposure
- Allocate post-CAT event resources
- Enable distribution analysis for overexposed concentration of risk
Validation
.png) | "By increasing the locational accuracy, our catastrophe modeling can now produce more precise results and risk estimations for a myriad of potential perils. The improved insight and risk reporting capabilities are also helping to address EU Solvency II regulatory requirements." Nigel Davis |
 | "Visualizing this important information on a map makes a world of difference…[In the past] it was difficult for our underwriters to avoid inadvertently insuring too many properties within close proximity. With MapInfo Professional ® , the exact location of a property is visually depicted so we avoid such mistakes." Brian Haney |
Our solution helps you identify, assess and monitor risk from the individual policy level to your aggregated book of business; it combines data management, best-in-class geocoding, address validation, data quality, data enrichment, and visualization in a single platform; and it enables you to make better operational and strategic decisions across your organization – from actuarial, underwriting, CAT modeling, risk management and distribution/marketing to executive management.
Key Recommendations:
- Adopt an “Enterprise Data Strategy” to break down legacy siloes and leverage data across multiple lines of business.
- Adopt an “Enterprise Data Strategy” to break down legacy siloes and leverage data across multiple lines of business.
- Leverage GIS analytics and visualization technologies to gain greater insight into risk exposure and CAT Management.
 | A Single View of Risk – From the Policy to Complete Book of Business Understand how risk aggregation, near-real-time visualization and analysis can change catastrophe modeling and risk management practices, and how you can better assess a policy in the context of the book-of-business; determine PML; visualize exposure; and allocate post-CAT event resources. Learn more |