Captive formation up 200%+ in 2020 H1.

Captive formations have jumped more than 200% in the first half of 2020, particularly for property coverage. When considering whether captives is best for your company, businesses must determine their own risk appetites and fully establish their risk profile. Every step of owning or participating in a captive requires strong risk analysis and a proactive…

California is 5x more at risk of “the Big One.”

The California “Big One” has been predicted for years, but the earthquake coverage gap has widened while insurers aren’t always appropriately priced for the greater risk. If the Covid-19 pandemic has taught anything, it is that low-probability/high-impact events must be taken seriously and planned for. Maptycs provides the analysis and actionable insights to make proactive…

Global commercial property insurance rates up 19% in Q2 2020.

While the commercial property insurance rates increased by a collective 19% this past quarter, an important caveat hidden in the data is the differences between different regions and markets. The Asia and Pacific region had less volatility, while the United States saw some of the steepest growth. For complex global organizations, these differences present unique…

The gap between insurers and clients.

A new study by Nationwide Insurance presents a gap between the perceived value insurance agents provide vs. the value customers perceive the receive. This gap highlights the need for better communication between brokers and clients on their service levels, specific needs, and pricing. Our customers use Maptycs’ platform to both share and showcase risk data…

NOAA updates 2020 hurricane season forecast.

The National Oceanic and Atmospheric Administration (NOAA) revised their 2020 hurricane season forecast to “extremely active” yesterday, as several U.S. states begin to recover from Hurricane Isaias. This change reinforces the importance of carefully monitoring weather events in real-time to adjust risk management strategies, as plans made one day can quickly become moot with new…

Geospatial analytics for post-event analysis

Geospatial analytics and computer vision adds a more “comprehensive view of pre- and post-catastrophe events such as hurricanes, floods, or wildfires.” Especially in a time when Covid-19 will compound with severe weather impacts, accurate post-event analysis will determine future risk mitigation efforts. #risktech #insurtech #geospatialdata #GIS #insuranceindustry #climaterisk https://www.dig-in.com/opinion/computer-vision-and-geospatial-imagery-insurance-use-cases