It was Maptycs® first time at ITC Vegas annual event and we had a productive conference. It was inspiring, exciting … and #exhausting ????

Ernest discussed data and ethics in the commercial sustainability event organized by Sabine VanderLinden (Alchemy Crew), Lisa Wardlaw (MIS) and Matt Ferguson (Sønr). We heard from top notch experts and Bill Pieroni (Acord) wrapped it up with brio!

Sustainable underwriting requires expertise, data, technology, and transparency

Maptycs® looks forward to the commercial sustainability conversation at InsureTech Connect conference in Vegas. Smart underwriting requires people expertise, a mix of curated historical & real-time data, and powerful technology platforms to combine and analyze multiple datasets better and faster. sustainable underwriting will increasingly rely on trust and transparency between insurers, insureds, and brokers to improve risk prevention and mitigation, and to maintain economically acceptable insurance costs for organizations and the Society.

NOAA expects 60% above-normal Atlantic hurricane season

Climate change is causing pervasive extreme weather, and the insurance market has experienced a rise of catastrophic losses due to flooding, hurricanes, wildfires, and droughts over the past few years. With losses mounting, the key challenge for property underwriters to remain competitive and generate underwriting profits is to consolidate in real-time increasingly complex datasets to build an accurate picture of their risk exposure and compute adequate premiums. The ability to monitor severe weather events is equally critical to optimize the deployment of claims management resources and set aside adequate reserves for claims payouts.

Property underwriters are facing a growing list of challenges

With the rise of natural disasters and the explosion of high-quality location-based data developed by specialist companies, insurers need adequate tools to get a granular understanding of their property portfolios risk exposure, track accumulations of values, and integrate increasingly complex datasets to make better and faster underwriting decisions.

Effectively optimizing data in insurance

Interesting Insurtech Insights piece on “Effectively optimizing data in insurance”.
Indeed, the key to success is within strategy and execution.  Technology will be the enabler, and expertise and talents will be the driving forces to lead the transformation, bring more transparency and trust in the industry, and demonstrate better how insurance brings value to the Society.

Insurtechs Looking to Change the Insurance Landscape

Within balanced ecosystems, insurtechs and insurers can combine their respective expertise and collaborate efficiently to achieve better and faster the necessary transformation to manage climate risks, meet clients’ expectations, and close the gaps for underserved markets.

Maptycs help its client assess property risk exposure and climate risks in real-time.
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