Geospatial data opening up new opportunities.

Geospatial data uniquely provides new opportunities for insurers and policyholders to evaluate and cover new and emerging risks, especially in industries that have traditionally not been covered effectively. Data is only as useful as the actionable insights derived from it. Connect with Maptycs to see how our platform opens up risk strategies. #risktech #insurtech #riskmanagement…

Lessons learned from Hurricane Ida

Real-time evaluations of Hurricane Ida have allowed insurers to prioritize those most impacted by storm damages and effectively allocate resources. Proactive preparation for severe weather events dramatically helps mitigate losses, and while the damage from Hurricane Ida is extensive, initial reports show that Ida has been significantly lower than Hurricane Katrina. Maptycs provides real-time notification…

P&C premiums expected to double in 20 years.

P&C premiums are projected to almost double over the next two decades due to climate risks, according to a new report by Swiss Re. For risk and insurance professionals able to provide relevant insurance products, the expected jump provides an opportunity – and a need – to innovate their offerings to support the escalating property…

Federal Insurance Office reveals important step towards greater climate risk disclosures in insurance industry.

As 1 million homes remain without power due to Hurricane Ida, the Federal Insurance Office (FIO) announced “an important step towards assessing climate-related financial risk in the insurance sector.” With more in-depth climate risk disclosures on the horizon, risk and insurance professionals should take additional steps to bolster their risk analytics capabilities as climate issues…

Wildfire risks are hardening insurance market.

With the wildfire season underway, the insurance market “will likely continue to harden as insurers adapt to the reality of increasingly strong fires across the western U.S.” as climate risks rise. With the IPCC’s report on climate change underscoring a surge in compound events from heat waves, risk and insurance professionals must widen their risk…