Extreme weather conditions top Global Risks Report 2021.

Extreme weather conditions topped Zurich’s Global Risks Report 2021. While many recognize the catastrophic losses that can occur, most organizations still remain unprepared with reactive, not proactive, risk strategies to protect their businesses. Connect with our team to see how risk and insurance professionals use Maptycs to bolster their risk management practices against NatCat events.…

Hurricane losses to increase by 20% in future years.

The rise of hurricane event frequency coupled with rising sea levels are incredible likely to worsen future damages from the severe weather event, with losses projected to increase by approximately 20%. Developing a robust, proactive risk strategy is critical to stay ahead of the curve. #risktech #insurtech #climaterisk #propertycasualty

74% of executives recognize skill gap in addressing three main classes of climate risk.

KPMG outlines the three major classes of climate risk in their worldwide executives study: physical risk, transitional risk, and liability risks. With almost three-quarters of executives recognizing a skill gap in addressing these issues, organizations must invest more in #risktech to bolster their ability to proactively address these issues. #insurtech #climaterisk #riskmanagement https://www.forbes.com/sites/zengernews/2021/01/14/climate-change-now-key-issue-for-boardrooms-and-balance-sheets/?sh=53f25944e627

Global losses from climate risk up 44% in 2020.

Natural disasters from climate risk caused over $210 billion in losses in 2020, representing an almost 44% increase from 2019. With less than two-thirds of those losses being insured, risk and insurance professionals should be proactive in protecting their organizations as the same trend of greater climate risk continues in 2021. #risktech #insurtech #riskmanagement #climaterisk

QotW: “Not embracing technology in the renewal process workflow soon could result in them becoming increasingly complex.”

Quote of the week: “Not embracing technology in the renewal process workflow soon could result in them becoming increasingly complex to handle manually, as cedents and markets both become increasingly sophisticated and also demanding.” Identify actionable insights using big data and geospatial analytics with Maptycs. Connect with our team to see the platform in action.…

Risk data only as valuable as ease of use.

Risk exposure and real-time data is only valuable if the data can be seamlessly collected, integrated, and analyzed. It’s why Maptycs’ geospatial platform is built for ease-of-use and analyzes multiple data formats and large sizes so risk and insurance professionals can focus on acting on insights rather than finding them. #risktech #insurtech #riskmanagement #propertycasualty #GIS