Climate risk affects how portfolio can build their portfolios over the next two years, and accurately assessing environmental concerns and mitigate risks will be at an even greater premium as premiums increase. Climate risk is no longer just a long-term concern. #risktech #insurtech #riskmanagement #climaterisk https://www.linkedin.com/feed/update/urn:li:activity:6867210369610457088 https://www.propertycasualty360.com/2021/11/16/insurers-are-getting-more-anxious-about-climate-risks/

The rise in insurance pricing, client expectations, and climate risk frequencies all demand updates to traditional risk assessment models heading into 2021. Reassessing risk requires a nuanced look into your portfolios with more advanced analytical capabilities than in the past. Maptycs users identify the actionable insights hidden in the their risk exposure data through real-time…

Great #insurtech support the people who actually use it, rather than simply add extra work and layers of complexity to make their job more difficult. Ease of use is just as important – if not more – than utility. #risktech #riskmanagement #insuranceindustry https://www.linkedin.com/feed/update/urn:li:activity:6866500828199575552 https://www.insurancebusinessmag.com/uk/news/breaking-news/what-sets-a-tech-forward-insurance-business-apart-from-a-tech-shackled-firm-316666.aspx

Successful risk and insurance professionals are great storytellers, finding the underlying narrative within risk exposure data. Visualizing data helps both identify and effectively communicate those hidden insights. For property risk, geospatial visualization adds layers of context to analyze, track, and report risk exposures, especially during real-time weather events. Connect with the Maptycs team to see…

The Three Principles to follow when adopting the best #insurtech and #risktech to support your team: Flexibility, Intelligence, Simplicity. If it strips away the noise to clarify the signal to make more informed decisions, it’s time to take that step. #riskmanagement #insuranceindustry https://www.linkedin.com/feed/update/urn:li:activity:6864587050675384320 https://www.insuranceage.co.uk/broker/7896556/top-100-brokers-2021-analysis-opening-up-innovating-for-the-future

Accurate climate risk analytics is “the biggest single opportunity the insurance industry has ever seen” as the #risktech capable of real-time assessment and nuanced risk management is now here. Stay ahead of the curve and identify actionable insights hidden in your property risk exposure data with Maptycs. #insurtech #riskmanagement #climaterisk https://www.linkedin.com/feed/update/urn:li:activity:6864238510220693504 https://www.cnbc.com/2021/11/09/climate-biggest-single-opportunity-for-insurance-lloyds-ceo.html

Geospatial imagery brings together a wide array of data sources to supercharge the capabilities of P&C insurance professionals and opens up a new world of possibilities in pre- and post-loss analytics. It allows us to understand the data in away that makes sense. Maptycs built our own proprietary geospatial visualization platform specifically for risk and…

Great #insurtech empowers their workforce by removing data bottlenecks that inhibit providing true value to their customers. Connect with the Maptycs team to see how our platform supercharges the human element of risk management. #risktech #riskmanagement #insuranceindustry https://www.linkedin.com/feed/update/urn:li:activity:6862432745449226240 https://www.propertycasualty360.com/2021/11/05/a-balanced-approach-to-improving-insurance-customer-experiences/

“Risk managers in the insurance industry must lead the way to build greater resilience.” – Selwin Hart, UN Secretary General for Climate Change. #riskmanagement #climaterisk #risktech #insurtech

Prepare for double-digit increases in property catastrophe rates in 2022 as re/insurers respond to the rise in severity and frequency of severe climate events. Effective risk management is a delicate balancing act, and changes in rates require a deep awareness of exposures. Identify actionable insights hidden in your property risk data with Maptycs. #risktech #insurtech…

Complexity requires context. Finding the actionable insights hidden in your property risk exposure data and presenting the outcomes are just as important as the quantity and quality of the data gathered. #risktech #insurtech #riskmanagement #insuranceindustry #propertyandcasualty https://www.linkedin.com/feed/update/urn:li:activity:6859918491210907648 https://www.directionsmag.com/article/11073

The insurance industry is entering a new phase as property underwriting shifts from static analysis of historical models to a dynamic process with more granular, real-time analytics. Big changes are on the horizon. Use Maptycs to identify the actionable insights hidden in your risk exposure data. Connect with our team to see the Maptycs platform…

“No matter what new technologies a company incorporates, processes revolve around people. Overlook the human element and the transformation initiative is destined to fail.” A “People First” approach is crucial to effectively unlock the potential of #insurtech adoption. Maptycs’ core design philosophy has always been building on how risk and insurance professionals actually work. #risktech…

Twice as many insurance executives noted technology as their company’s greatest internal challenge compared to 2019. From providing greater value for customers to enhancing the capabilities of their teams, investing in #insurtech is a need – not a want – for risk and insurance professionals. https://www.linkedin.com/feed/update/urn:li:activity:6857037946739146752 #risktech #insuranceindustry

Expect further rate rises in the new year as 2021 insurance losses from natural catastrophes and severe weather events are double the long-term average. Volatility from climate risks will only continue to increase. Stay proactive by identifying actionable insights hidden in your risk exposure data. The answers are there; Maptycs filters out the noise. #risktech…

Effective risk management should be forward-looking. Risk and insurance professionals must review exposure in real-time in order to rapidly respond to developing risk events rather than solely review replaying previous events. Take control of your risk exposure data with Maptycs’ real-time weather analytics and notifications to keep your portfolio protected. #risktech #insurtech #riskmanagement #insuranceindustry #riskanalysis…

The number of billion dollar weather and climate disasters in the U.S. during 2021 has been “unprecedented” according to the latest data from the National Oceanic and Atmospheric Administration (NOAA). While the total aggregated costs remain below 2005 and 2017, risk and insurance professionals must prepare and plan for increased frequency of such severe weather…

For insurers and reinsurers, a firmer understanding of climate risks and opportunities is necessary to create a forward-thinking climate action strategy. A recent white paper by WTW and Wellington Management provides an 8-step guide in managing climate change, which involves more nuanced analytics of climate risk scenarios. #risktech #climatechange #climaterisk #insurtech #insuranceindustry https://www.linkedin.com/posts/maptycsriskmanagement_a-holistic-approach-to-climate-risks-and-activity-6854423605279821824-5BJr

Almost all rating agencies are reevaluating how they handle catastrophe risk, particularly related to property risk from climate change. With S&P Global already announcing a review of its methodology for insurer capital analysis, risk and insurance professionals should take extra steps to review their own portfolios with advanced analytics #risktech#insurtech#riskmanagement#climaterisk https://www.linkedin.com/feed/update/urn:li:activity:6854133015707230208

The key to great risk management is balance. Find the actionable insights hidden in your risk exposure data with Maptycs. #risktech #insurtech #riskmanagement #insuranceindustry

The intuition, the creativity, and the empathy of risk and insurance professionals can not be replaced. Great #insurtech understands the people who make up the industry and the challenges they face. Maptycs is built by and built for insurance and risk leaders who require actionable insights hidden in their risk exposure data. See how the…

The pandemic is no longer the top concern for insurers – instead, “climate change is back at the top of the agenda.” AXA SA’s new report shows that global warming is a main point of focus as the frequency of severe weather events continue to rise. Climate risk data is only as valuable as the…

“Insurance has always been a people business — the industry is built on relationships and helping people through times of need.” #insurtech and #geospatialdata tools that focus on enhancing – not replacing – the human-side of the #insuranceindustry drive success for the top risk and insurance professionals. #risktech #riskmanagement

FEMA’s new Risk Rating 2.0 goes into effect for new policies, shifting how flood insurance premiums are calculated. Risk and insurance professionals who respond quickly to ensure a seamless transition open opportunities for greater growth and higher customer satisfaction. Proactively responding to regulatory changes requires a platform that can identify actionable insights hidden in your…

Energy spent hunting down the correct documents, or diving through multiple spreadsheets, is energy taken away from building stronger client relationships. Great #insurtech is accessible, flexible, and designed to strip away the noise, so you can focus on what matters. #riskmanagement #insuranceindustry #risktech

Impactful #insurtech is more than just the technology; it requires a deep understanding of how risk and insurance professionals work collaboratively, as well as the integrating seamlessly with the systems they already depend on. Maptycs is founded and designed by insurance veterans with decades of experience understanding the industry’s challenges. Connect with our team to…

A new report by S&P Global Ratings indicate that reinsurers may be underestimating climate risk exposure by up to 50%, modeling extreme weather events as less frequent than they should. Inaccurate climate risk modeling adds “significant potential for volatility in earnings and capital” and highlights the need for more advanced analytics. #risktech #insurtech #riskmanagement #climaterisk

Data without context distracts more than it helps. Simplify and refine the insights through #insurtech to focus attention on what matters most – whether key exposures for a given risk class or improving target loss ratio. #insuranceindustry #risktech #propertyandcasualty

Less predictable P&C claim costs as a result of climate change tops the list of major concerns for insurers in Bank of America’s new global survey. In today’s world, it is imperative for risk and insurance professionals to utilize models that are updated in real-time and provide actionable insights. Maptycs is the next-generation geospatial visualization…

Regulation changes, such as the National Federal Insurance Program’s (NFIP) new model, can catch brokers, underwriters, and risk managers unawares. Be prepared, proactive, and protected by staying ahead of the curve and identifying the cascading impacts of shifts in regulations. #risktech #insurtech #riskmanagement #NFIP

Communication gaps in the #insuranceindustry grow when risk and insurance professionals don’t have effective ways to unify internal data. Automating, standardizing, and cataloging property risk data is a crucial first step in empowering your teams. Maptycs provides an intuitive platform designed to support risk professionals to accurately assess property risks across their portfolio. Connect with…

The success of great #insurtech is striking the right balance between building efficiencies with allowing for human judgment. Improved data insights support better policy decisions, combining risk and insurance experience with advanced analytics. #riskmanagement #risktech #insuranceindustry

Power outages and flooding are two of several major risks to track as Hurricane Nichols made landfall in Texas earlier today, becoming the 6th hurricane of the 2021 #hurricaneseason. With over $30bn damages expected after Hurricane Ida, risk and insurance professionals must take extra diligence in preparing for and responding to severe weather events with…

An insurance industry leader states “[t]he challenge of insurtech is making insurance exciting to consumers.” At Maptycs, we believe the challenge of #insurtech is making insurance meaningful. #riskmanagement #risktech #insuranceindustry

Insurtech cannot replace the knowledge and experience of talented risk and insurance professionals. As an #insurtech company, a core ethos of Maptycs has been to enhance the capability and support the insurance industry become more relevant to their clients’ needs, not replace them.#insuranceindustry #risktech #riskmanagement

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…

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 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…

Human relationships and data relationships should work in harmony with one another, not in conflict. Great #insurtech bridges the gap.#risktech #riskmanagement #insuranceindustryhttps://www.propertycasualty360.com/2021/08/17/insurance-innovation-when-tech-meets-humanity/

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…

QotW: “When I think about technology, I don’t think in terms of analytics or data science, I think in terms of what do our customers want.” – CIO, RSA #risktech #insurtech #riskmanagement

Digital tools serve to enhance the skills and capabilities of brokers and risk managers, not to replace them. The human touch is a crucial part and integrating new #risktech must go hand-in-hand with building stronger relationships. #insurtech #riskmanagement

Effective #insurtech investment is much more than simply adopting new technologies; it requires investing in the people and processes to fully utilize the new capabilities and analytics. #riskmanagement #risktech

Great #insurtech does not replace risk & insurance professionals; it bolsters and expands their capabilities. #riskmanagement #risktech

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…

FEMA’s National Flood Insurance Program (NFIP) will undergo a massive overhaul this October, marking the most substantive change since 1968. With the IPCC’s report on climate change last week, risk and insurance professionals have an imperative to reevaluate and adjust their property risk strategies in the coming months. #risktech #insurtech #riskmanagement #climaterisk

Maptycs’ CEO shares her journey on being a French insurtech entrepreneur in the United States for French Morning USA. #insurtech #startup #entreprenership #insurtech #risktech

Tropical Storm Fred became the 6th named storm last night as it approaches the Florida peninsula with reports of it possibly becoming a hurricane tonight. With how rapidly conditions change, real-time notifications are crucial for risk and insurance professionals this hurricane season. #risktech #insurtech #fred #hurricaneseason

Environmental, social and governance (ESG) transparency requirements is increasingly demanded during insurance renewals as climate risks continue to rise. The changing landscape places greater pressure for risk and insurance professionals to more deeply analyze their risk strategies. Identify actionable insights hidden in your risk exposure data with Maptycs and proactively prepare for catastrophic events. #risktech…

The UN’s IPCC released its 6th Climate Change Assessment Report today, detailing the impacts of climate events across various industries, supply chains, and regions. With the report’s call for greater climate risk transparency, risk and insurance professionals should expect further steps towards sustainable risk management and demand for improved climate risk analytics. How are you…

Spreadsheets are liabilities for risk and insurance professionals, especially as datasets become large and the data values are constantly changed. Flat designs limit historical property and NatCat risk analytics, yet the vast majority of risk management relies on them. The Maptycs platform uses geospatial visualization with real-time weather monitoring to identify actionable insights hidden in…

“There are challenging questions asked of the insurance industry, but it has a lot of power if it is courageous. The industry can make a meaningful contribution,” Airmic CEO Julia Graham. Risk and insurance professionals can make meaningful impacts on climate change equipped with the right tools. Connect with Maptycs to learn how. #risktech #insurtech…

SEC mandatory climate risk disclosures, set to be announcements at the end of the year, will require consistent, comparable, and “decision-useful” reporting. In a follow-up to March’s announcement, the SEC is also considering industry-specific metrics as stricter standards are planned to be set. Custom reporting and geospatial analytics are crucial to understand and mitigate climate…

A new study underscored the variety of risks multiplied by climate change, including declining air quality, natural hazards, and water availability, as well as the likelihood of major heat stress throughout various major cities. Risk managers, insurers, and underwriters must be prepared with proactive resilience and more nuanced analytics to effectively mitigate the growing risks.…

The diversity of data for the physical and transitional risk of climate change is wide and complex, and they require different datasets that are calculated differently. Accurately understanding their impacts on your organization’s portfolio demands bespoke scenarios and geospatial awareness of interactions. #risktech #insurtech #riskmanagement #climaterisk

The majority of property loss is preventable with stronger risk management bolstered with advanced analytics. Awareness and proactive planning build true risk resilience. #risktech #riskmanagement #insurtech #riskresilience

Quote of the Week: “Once mainstream market participants wake up to the risks and opportunities posed by the physical environment and our attempts to manage it, it will become one of the common lenses through which risk is evaluated.” Identify actionable insights hidden in your risk exposure data, and stay ahead of curve with Maptycs.…

The first half of 2021 saw insured losses from natural disasters hit a 10-year high of $42B. With the hurricane season underway and wildfire season around the corner, risk and insurance professionals should take extra steps to deeply analyze their portfolios and adjust their risk strategies. Maptycs provides a big data geospatial visualization and advanced…

Climate risk expectations and requirements for insurers will continue to increase towards “net zero insured emissions” as the frequency of extreme weather events rise. Geospatial analytics provide risk and insurance professionals with a deeper understanding of their portfolio’s emissions and risks to effectively prepare for new, incoming regulations. #risktech #insurtech #riskmanagement #climaterisk

Climate risks will undoubtedly impact credit and underwriting decisions through higher interest rates for at risk properties; investors, lenders, and risk professionals are taking proactive steps now to understand the risks for long-term benefits. #risktech #insurtech #riskmanagement #climaterisk

Wildfire, hail, tornado, and other catastrophe exposures continue to draw greater scrutiny from insurers as Covid-19 protocols are rubberbanding with the Delta variant. Risk and insurance professionals should proactively prepare for shifts in valuations. #risktech #insurtech #riskmanagement

A new report by the National Oceanic and Atmospheric Administration (NOAA) warns flooding frequency is expected to increase 5-20x in the next 30 years, having doubled since 2000. Risk models must be regularly adjusted to grasp the continuous changes to climate risks. #risktech #insurtech #climaterisk #climateresilience #floodrisk

Coordination between local and global master policies is often a blind spot for risk and insurance professionals, according to a recently published advisory by Chubb Global Services. Geospatial awareness of the portfolio and interaction between policies is a crucial step of effective global risk management. #risktech #insurtech #riskmanagement

Secondary perils caused over $57.5B in insured losses from natural catastrophes in 2020, and have exceeded hurricane losses by 13% over the past 20 years. As risk and insurance professionals re-underwrite and reprice exposures, geospatial visualization provides a more nuanced understanding of the varying array of policies. #risktech #insurtech #riskmanagement

Quote of the Week: “[Top insurers] have transformed their operations to automate significantly and optimise their processes in the face of strong consumer expectation, particularly in how they respond to COVID-19 and the increasing threat of natural catastrophes.” #insurtech #risktech #riskmanagement #climaterisk

Exposure to natural hazards from climate change tops the drivers of global risk resilience in FM Global’s recent 2021 Resilience Index. As FM Global’s VP Eric Jones notes, ““It’s a problem that the risk management culture isn’t necessarily keeping up with the increasing risk.” #risktech #insurtech #riskmanagement #climaterisk

Traditionally siloed risk data is unable to adequately protect against the rapidly changing world of climate risks. Enhanced analytics allow for more complex interdependencies to provide nuanced understanding of risk in the 21st century. #riskmanagement #climaterisk #risktech #insurtech

By adding a deeper awareness and understanding of what’s happening where at any time, insurtech is driving the development of new products with more targeted programs. Organizations with advanced real-time analytics are able to provide more for their clients and better protect their portfolios. #risktech #insurtech #riskmanagement

The new wave of Delta Variant infections and a week of severe weather events underscore the importance of flexibility and proactive risk analysis. Risk and insurance professionals who are able to create robust analytics quickly against need and budgetary consideration are poised to withstand rapid changes. #riskmanagement #insurtech #deltavariant #riskanalytics

Deloitte’s newest report on climate resilience advises a three-pronged approach for risk and insurance professionals, centered on proactive risk analysis with a more targeted climate strategy, innovations in product and services, and enhanced capabilities in both the types of data and depth of analytics. Effective risk management requires identifying the actionable insights hidden in your…

Great #insurtech should be able to wrap around legacy systems to provide the data analytics capabilities while maintaining continuity. While the industry is beginning to truly embrace technology, rip and replace is not an option for many risk and insurance professionals. Supercharge your existing processes with Maptycs to identify the actionable insights hidden in your…

Quote of the Week: “One of the key lessons to take away from the pandemic is that the digital way of doing business is here to stay. It’s the only way to meet changing customer expectations, and it’s your choice to sink or swim.” #riskmanagement #risktech #insurtech #insuranceindustry

Do you still rely on spreadsheets for risk management? Data security issues are inherent to overreliance of traditional spreadsheets – perhaps its time to make a change. #risktech #insurtech #riskmanagement #datasecurity #riskanalytics

Tropical Storm Claudette was the first named storm of the Atlantic #hurricaneseason2021 to make landfall this weekend. Over three days, the storm was downgraded and upgraded several times, forming mostly overland, highlighting how quickly storm conditions can shift dramatically to present new risks. Connect with the our team to see how Maptycs’ real-time weather notifications…

With an expanded work-from-home practices, severe weather events present new risks. Even as pandemic shutdowns are lifted, companies should bolster their proactive risk strategies to ensure continuity across a more dispersed workforce. #risktech #insurtech #riskmanagement #climaterisk

Contextualizing the “where” of risk opens up answers to the “why” and “how” of risk management. Geospatial visualization is a crucial component of analysis for risk and insurance professionals to protect their businesses. #risktech #insurtech #riskmanagement #geospatialdata

Just because an area hasn’t flooded before, don’t assume it won’t know. “We’re in a new era.” – Amy Bach, Executive Director of United Policyholders. The first named storm has already formed this #hurricaneseason. Identify actionable insights on your portfolio with advanced geospatial analytics using Maptycs. #risktech #climaterisk #insurtech #floodinsurance #floodrisk

Re/insurance rates are forecasted to continue hardening through 2022, according to Swiss Re. Risk and insurance professionals will have to continue adapting risk strategies around higher rates and growing climate risks, requiring a more nuanced, in-depth geospatial view of their portfolio. #risktech #insurtech #climaterisk #insuranceindustry

Quote of the Week: “True ESG reporting standards are still evolving, but the base data that goes into understanding an organisation’s current ESG risk landscape, risk appetite and goals is something that companies should be thinking about now.” #risktech #insurtech #riskmanagement #climaterisk #ESG

G7 finance ministers moved strongly towards forcing climate risk disclosures for banks and companies this weekend, coupled with a push towards mandatory climate risk data collection. For risk and insurance professionals, this shift urges proactive, global risk analysis to adjust to the new normal. Maptycs provides the most advanced technology solution to identifying and reporting…

Ensuring your risk data is up-to-date and reliable are key for effective risk management. While spreadsheets have long been relied upon, important information naturally slips through the cracks. #risktech #insurtech #riskmanagement

This detailed infographic highlights the ripple effects from severe weather risks across an entire business. Property damage is merely a fraction of the broader risks from catastrophic events, and risk professionals must take a wide-view of how these risks cascade geospatially across the organization. #risktech #insurtech #riskmanagement #climaterisk #natcat

Quote of the Week: “As organizations adopt innovative technology, they need to understand how location matters, and consider what information location-based data can provide.” Connect with Maptycs to see how we provide deep, actionable insights hidden in their risk exposure data through our proprietary geospatial visualization and analytics platform. #risktech #insurtech #geospatialdata #riskdata #riskanalysis

Hurricane season officially begins today, with a 60% chance of an above-average season and a forecast of 13-20 named storms. Maptycs combines real-time event monitoring and custom reporting with advanced analytics so risk and insurance professionals can immediately project losses and proactively respond to severe weather events as they unfold. Connect with our team to…

Maptycs is designed specifically to support risk and insurance professionals in each of the 5 steps of the risk management process. Our geospatial visualization platform and real-time event monitoring bolsters risk identification, assessment, mitigation, and monitoring, coupled with advanced analytics and custom reporting for risk communication.. #risktech #insurtech #riskmanagement

Integrating #insurtech into an organization requires a deep understanding of the challenges unique to risk and insurance professionals. Maptycs’ founders bring more than 40 years of experience specific to risk management and business insurance. #risktech #riskmanagement

The 2021 hurricane season begins next Tuesday, with several reports indicating another season with high-level storm activity and severe property damage. Advanced #insurtech and #risktech allow risk and insurance professionals to be flexible and proactive in their planning and response, learning from the lessons of 2020. #riskmanagement #hurricaneseason #climaterisk

U.S. President Biden’s executive order this week underscores a broader international trend for greater climate risk disclosure and climate analysis. Lack of awareness is lack of preparedness – connect with MAPTYCS to see how risk and insurance professionals are using our geospatial visualization platform to proactively identify their climate risks. #risktech #insurtech

While the 2021 Atlantic hurricane season officially begins June 1st, early signs of tropical storm development signals a potentially busy season this year. Risk and insurance professionals should proactively prepare to adjust risk strategies as weather forecasts develop. #risktech #insurtech #riskmanagement #hurricaneseason

Climate risk disclosure requirements are increasing for companies that face physical climate risks like fire and floods. As risk and insurance professionals manage greater obligations to quantify and assess climate risks, MAPTYCS provides the best platform to proactively manage risk strategies and rapid response to severe weather events. #risktech #insurtech #riskmanagement #climaterisk

As National Hurricane Preparedness Week comes to a close, risk and insurance professionals should proactively advise clients how to prepare their property and employees for an above-average hurricane season. Staying informed and prepared for severe weather events is crucial for risk resilience. Maptycs’ real-time weather events analytics and geospatial visualization platform keep our customers one…

Geospatial technology is the backbone for future risk resilience against climate risk, with flood forecasting models, early warning systems, and contextual risk awareness. Maptycs proprietary geospatial visualization platform is designed for risk and insurance professionals to unlock actionable insights hidden in your risk exposure data. Connect with our team to see how Maptycs is being…

While insurance companies have been “laggards compared to their financial services counterparts” when it comes to big data and analytics, insurers are slowly starting to change as “more insurers see concrete results from investments in innovation and technology.” Transform your risk exposure data into actionable insights with Maptycs data analytics and geospatial visualization platform. Connect…

Dat-driven insurance, move to digital platforms, and cloud computing are the top 3 tech trends shaping 2021. Connect with our team to see how the Maptycs platform is revolutionizing risk analytics with our groundbreaking geospatial visualization platform. #risktech #insurtech #riskmanagement

Only one in five companies quantify the financial impacts and physical risks of climate change, opening them up to both lower investor/client interest and potential legal action. Geospatial data is a crucial step in building internal systems to analyze climate risks that affect your business. #risktech #insurtech #climaterisk

Location intelligence with big data analytics reveal patterns and trends to anticipate their customer needs. Geospatial awareness is a key difference-maker in identifying insights, often in real-time, on situations that may dramatically impact your business. #risktech #insurtech #riskmanagement

Updated or modified climate risk models can dramatically shift risk strategies. When CAT risk models change, risk and insurance professionals need to reassess all the ways this can affect their business’ operations. Maptycs platform provides our users big data analytics with geospatial visualization to accurately analyze and asses risk exposure, bringing together internal and external…

More than a third of risk professionals reported they increased their use of #risktech in the past year, aligning with a broader need for advanced analytics and accurate assessments. With growing frequency of natural catastrophes projected for 2021 and the continuing crises, staying ahead of the curve through improved risktech is critical. #riskmanagement

Geospatial visualization and mapping opens up impactful data analytics. Projecting risks, proactively managing real-time events, and clearly communicating risk exposures are quintessential for all risk and insurance professionals navigating a data-first world. #risktech #insurtech #riskmanagement #geospatialdata

Geospatial visualization is a gamechanger in climate resilience, providing both a holistic framework and conveyance device to make sense of distance, scale, and impact. As the frequency of natural hazards continue to rise, Maptycs offers an intuitive, easy-to-use platform for risk and insurance professionals to make better decisions with actionable insights hidden in your risk…

The new wave of Covid-variants heightens the importance of proactive risk management. Organizations that take a multi-layered view of risk with geospatial awareness on cascading effects will remain resilient when situations dramatically change. #risktech #covid19 #insurtech #riskmanagement

Quote of the Week: “The availability of information on a map allows people to use and identify visual patterns, which helps decision-makers increase sales or monitor cost-effectively. The skill to manage large-scale data sets in the cloud, display data geographically, and provide the tools for analysis is the best way to add value to raw…

Commercial P&C insurance rates rose 7% in the first quarter of 2021, with CAT prone areas significantly more affected. As the number of predicted named storms increase every week, risk and insurance professionals should proactively adjust risk strategies as industry experts expect rate increases to continue for the rest of 2021. #risktech #insurtech #riskmanagement #propertycasualty…

Forecasts for the 2021 hurricane season are beginning to emerge, with the most recent WeatherBELL forecast anticipating a “very active season” with more named storms than previously expected. Rapidly changing expectations require risk and insurance professionals to consistently adjust risk strategies to stay ahead as new data presents itself. #risktech #insurtech #riskmanagement #climaterisk #hurricaneseason

Collaborative risk management is a supply chain superpower against disruptions; As the saying goes, you are only as strong as your weakest link. Resilience is built by bringing data together across your vendors, suppliers, and everything in between, yet many advanced analytics tools turn collaboration into a cumbersome process. Maptycs users seamlessly integrate risk data…

FEMA officially announced Risk Rating 2.0 last Thursday as a change to the National Flood Insurance Program’s risk rating methodology, affecting new policies beginning Oct. 1, 2021 and renewals after April 1, 2022. These changes present a dramatic shift in pricing for risk and insurance professionals to analyze, especially as FEMA’s flood map data evolves.…

Hurricane season is several months away, yet AccuWeather projects an above-average hurricane season similar to a record-breaking 2020 season. Especially with Swiss Re’s recent projection of 250bn+ USD industry loss this year, risk and insurance professionals should proactively prepare now for peak peril events this summer. #risktech #climaterisk #insurtech #riskmanagement

The UN’s “Future Trends in Geospatial Information Management” underscores how the ever-increasing size and complexity of existing data sources require technologies that can effectively integrate, analyze, and identify actionable insights from a wide array of sources. #risktech #insurtech #riskmanagement #geospatialdata http://ggim.un.org/meetings/GGIM-committee/10th-Session/documents/Future_Trends_Report_THIRD_EDITION_digital_accessible.pdf

Several severe weather events began a damaging start to the severe thunderstorm and tornado season this year, with damages expected to reach well into the hundreds of millions of US Dollars. With 2020 being the costliest year on record for severe storm peril, risk and insurance professionals should carefully monitor and proactively prepare to adjust…

Geospatially visualizing risk exposure data is crucial for risk and insurance professionals as the quantity of data increases every year – “the data is either too large to grasp or it’s not clear how the data is being manipulated.” Tapping into the actionable insights hidden in your risk exposure data is possible on the Maptycs…

Investing in #insurtech adds flexibility for underwriters, brokers, and clients to stay informed and connected on constantly changing risks. Especially for global risk and insurance professionals, “a legacy system [can] not hold up to an ever-changing tech landscape.” #risktech #riskmanagement

Quote of the Week: “A risk-informed approach fit for the digital age is one that is strategic in considering the impact of risk on strategy and performance; balanced in evaluating both opportunity and risk; integrated with strategy setting, planning and business execution; and customized, reflecting organizational business needs, expectations and cultural attributes.” How would you define your risk approach? #risktech…

Stronger flood insurance mandates may be on the horizon in the United States as FEMA prepares to adjust their flood risk assessment system. A reason to be hopeful: “Technology is changing the way the insurance industry understands and measures risk” to allow risk and insurance professionals to properly analyze and communicate these changes internally with…

FEMA is planning to announce its “Risk Rating 2.0” that will dramatically revise risk assessments for flood risk properties. Proactively understanding and preparing for these changes is a necessary first step for risk and insurance professionals to take sooner than later. #risktech #insurtech #riskmanagement #floodrisk

Single-model approaches to catastrophic risk is the norm for many risk and insurance professionals, which increases the fragility of risk strategies. Instead, researchers recommend a multi-risk model especially as climate risks increase in the new decade. #risktech #insurtech #riskmanagement

Climate risk blind spots present a significant challenge for risk and insurance professionals relying on climate risk disclosure initiatives for guidance. Granular insights into exposure is critical as climate risks continue to rise, and “Developing strategies that meet these objectives requires a more robust understanding of the potential risks from physical climate hazards.” #risktech #insurtech…

Location-based insights provide more nuanced analysis in terms of population and resource locations, opening up a broader array of connection points to improve risk management. #risktech #insurtech #riskmanagement #GIS

As the UK Geospatial Commission’s recent report highlights, vast risk datasets are only as useful as the capacity to interpret, manipulate, and analyze the data. Maptycs bridges the gaps between geospatial data for risk and insurance professionals to bring together datasets across multiple formats and sources in an intuitive, easy-to-use platform designed for maximizing value.…

Increased climate disclosures for insurers will improve risk data quality and quantity, but risk and insurance professionals will only be able to take a more targeted response with the proper tools in place. Maptycs users rely on the platform’s advanced geospatial visualization platform to closely monitor, project, and report on climate risks. Unlock actionable insights…

The rise in frequency and severity of NatCats is a long-term trend that undermines the reliability of historical data for risk and insurance professionals. Quick, effective, and accurate analysis to real-time developments is a necessity in today’s risk climate. #risktech #insurtech #riskmanagement #climaterisk

For risk and insurance professionals, “what once may have been considered a nice-to-have tool is rapidly becoming essential.” Taking advantage of automated advanced analytics and reporting tools are the two trends to stay ahead of the curve. #risktech #insurtech #riskmanagement

First Street’s newest report projects National Flood Insurance Program (NFIP) rates may more than quadruple as regions “specifically vulnerable to flood risk” are likely significantly underinsured. Maptycs users seamlessly integrate new and existing risk exposure data to quickly visualize, analyze, and proactively adjust their risk strategies. Connect with our team to see the Maptycs platform…

Advanced risk modeling is a necessity for risk and insurance professionals to prevent losses from future broad-scale events like COVID-19 pandemic. Organizations investing now are preparing for the likelihood for similar events in coming years. #risktech #insurtech #riskmanagement

Quote of the Week: “Now more than ever, insurers that make it easy for customers to buy coverage and settle claims online will have the biggest advantage in the evolving marketplace.” – APCIA’s new report #riskmanagement #risktech #insurtech

2020 has taught that point in-time assessments for monitoring risk is too static for effective risk management. Instead, “effective risk mitigation required continuous monitoring and risk intelligence.” Maptycs users harness the platform’s automated real-time risk monitoring and notification systems to continuously stay prepared and quickly respond to developing events. Connect with our team to see…

As RIMS’ recent report underscores, “The COVID-19 pandemic highlighted the interdependencies of risk throughout an organization’s ecosystem.” With the renewed focus and investment on enterprise risk management, organizations must continue this momentum to ensure business continuity and proactive risk management strategies for the long-term. #risktech #insurtech #riskmanagement #climaterisk #propertyandcasualty

Against the backdrop of severe weather events in Texas, Federal Reserve official Lael Brainard provided a strong statement on climate risk reporting and analysis: “Financial institutions that do not put in place frameworks to measure, monitor, and manage climate-related risks could face outsized losses on climate-sensitive assets caused by environmental shifts.” Risk and insurance professionals…

Active climate risk management still remains a weak point for most companies. The first step to bolster resilience? “Identify and quantify exposures related to assets, to locations, and to clients.” #risktech #insurtech #riskmanagement #climaterisk

A 20 year study of the top 100 P&C insurers identifies underwriting with deep insights and digitally enhanced productivity are two key commonalities among top-performers. Risk and insurance professionals use Maptycs to geospatially analyze data across multiple formats and sizes to accurately monitor, assess, and respond to severe weather events as they happen. Connect with…

Relying on manual spreadsheet processes to prepare or analyze risk exposure data will inevitably lead to inefficient and ineffective risk management strategies. Insurtech opens up new actionable insights hidden between large datasets and formats. #risktech #insurtech #riskmanagement

The challenge with accurate climate risk assessment isn’t the quantity of data; it’s the quality of analysis arising from data siloes. #risktech #insurtech #riskmanagement #climaterisk

UNEP’s final report for the “Principles of Sustainable Insurance Initiative” urges insurers to take a more integrated approach to climate risk analysis that includes physical, transition, and litigation risks in scenario-based frameworks. Maptycs’ platform bridges the data silos created across formats, departments, and large datasets to bolster risk resilience. Connect with our team to see…

Less than a third of enterprise risk professionals feel very confident in their technologies capturing an accurate, early view of unexpected events, while 7 in 10 find access to real-time information to be siloed. Maptycs combines both your risk exposure data with publicly available information to bring actionable insights in real-time and create what-if scenarios…

A few days of hesitation to a natural catastrophe can mean total loss during a global pandemic. Effective rapid response to severe weather events requires revamped risk strategies and improved insurtech to asses historically underestimated risks. #insurtech #risktech #riskmanagement #climaterisk

As insurtech adoption accelerates, insurers can “differentiate themselves from other companies by how they respond to customers at times of need” with improved catastrophe modeling and real-time real-time event monitoring. With severe weather events projected to increase in impact and frequency in 2021, Maptycs provides risk and insurance professionals an intuitive and powerful platform to…

Quote of the Week: “It’s easy to get really focused on the pandemic, but I think what worries me generally is resiliency, and what the pandemic has pointed out is that if you didn’t plan for [it], but you planned to be resilient, those companies have done better.” How is your organization building resiliency? #risktech…

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.…

Risk strategies that revolve around “a static, formulaic, and purely financial view of risk” are still all too common, and organizations will fall behind unless they implement more dynamic and flexible policies, according to McKinsey & Co. Maptycs offers businesses the best platform to assess their risk portfolio and proactively respond to risk events with…

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

2020 underscores the importance of robust risk management strategies. As 2021 progresses, risk and insurance professionals should broaden the risks they analyze and ensure they’ve bolstered their real-time threat monitoring capabilities. #risktech #insurtech #riskmanagement

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

As the saying goes, an ounce of prevention is worth a pound of cure. Proactive risk management and risk resilience strategies against climate risk should be front and center for all risk and insurance professionals as we enter into 2021. #risktech #insurtech #riskmanagement #climaterisk

Climate change accounts for more than one-third of all U.S. flood damage since ’98, and with rising climate risks, risk and insurance professionals must bolster their real-time response as historical models become more inaccurate. Maptycs users track real-time weather monitoring and big data analytics to proactively protect their organizations. Connect with our team to see…

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

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 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

Insurtech adoption in P&C in a hardening market. With increasing climate risks and the continuing Covid-19 pandemic, risk and insurance professionals can weather the storm with better analysis and proactive preparation. #risktech #insurtech #riskmanagement #propertycasualty

Adoption of new insurtech and digital-driven ecosystems characterize the largest factors moving the insurance industry forward in 2020. As the year ends (Happy New Years’ Eve!), risk and insurance professionals should continue this push to drive greater value for their organizations and clients. #risktech #insurtech #riskmanagement

The two of biggest risks against resiliency in 2021 are climate change and brittle supply chains. Risk and insurance professionals must take advantage of the tools available to them to build resilient risk mitigation strategies. #risktech #insurtech #riskmanagement

Quote of the Week: “When you have software solutions that cross multiple departments, provide orchestration of several workflows, and either automatically optimize, or at least provide recommendations, insurers will take significant leaps forward.” Connect with our team to see how the Maptycs platform removes data silos to open up communication and unlock actionable insights into…

Risk and insurance professionals must become more savvy understanding their organization’s exposure to extreme weather events. Investments in insurtech are critical now with renewals already beginning and higher projected climate risks in 2021. #risktech #insurtech #riskmanagement #climaterisk

Risk and insurance professionals require digital tools to meet clients’ expectations for quicker, more transparent, and more insightful information. As businesses invest into their digital infrastructure, look for “solutions that combine the benefits of human interaction and oversight with technology that’s fast and user friendly.” #insurtech #risktech #riskmanagement

Quote of the Week: “Geospatial data and mapping tools add the ability to analyse spatial data in terms of its relationship with time-series data. The implications are far-reaching for those examining the impact of events – whether extreme weather or the spread of virus or disease – on businesses, industries and public services.” Clients rely…

Risk and insurance professionals should proactively prepare for an increase in hurricane activity in 2021. Early climate conditions project an increase beyond an already record number of hurricanes in 2020. #risktech #insurtech #climaterisk #hurricaneseason #propertycasualty

The January 2021 renewal period requires even greater nuance in analysis and preparation than normal, as “experienced underwriters once again find that capital and competition may make their forward-looking 2021 portfolio projections inaccurate (or impossible to achieve).” Risk and insurance professionals should continue pressing to stay ahead of the curve. Connect with our team to…

A true pleasure for Maptycs to present for the Dragon’s Den session during the Airmic Climate Change forum earlier today! Our presentation – as well as resources from all the speakers at today’s event – can be found on the Airmic Forums website. #insurtech #risktech #climaterisk #climatechange #riskmanagement

Four Twenty Seven’s new report underscores the rising severity and frequency of severe climate hazards in its most recent 20 year projection, and “understanding who and what is exposed to climate hazards is essential to pricing this risk and preparing for its impacts.” Stay ahead of the curve and transform your risk exposure data into…

Join our CEO Jacqueline Legrand this Wednesday, December 9th, for the Dragon’s Den session during the Airmic Climate Change Forum! She’ll be sharing how Maptycs helps risk professionals address climate change risks and how big data analytics transforms your risk exposure data into actionable insights. Free registration: http://www.airmicforums.com/ #climatechangemitigation #insurtechinsights

Evolving data and analytical capabilities are the main differentiators for the top P&C industry leaders. Risk and insurance professionals progressing their organizations further are investing now to prepare for the future. #risktech #insurtech #propertyandcasualty #riskmanagement

Quote of the Week: “Time-sensitive insights allow for a better understanding of the forecast track, timing, intensity, and uncertainty across multiple scenarios to inform proactive preparation strategies, as well as the quantification of potential hazard and loss impacts.” Risk and insurance professionals use Maptycs for real-time notifications and risk assessments to respond quickly to intensifying…

The rise in storm frequency and rapid intensification of hurricanes this season underscores the need for quick adjustments to risk mitigation strategies as a large number of storms dramatically intensified in under 24 hours. While the 2020 hurricane season comes to end this week, risk and insurance professionals should take core lessons from this year…

Siloed data inhibits effective decision making. Information is only as useful for risk and insurance professionals when it is is easily available in the right form and the right time. The Maptycs platform can quickly combine data across multiple formats and sources to visualize and analyze risk. Transform your risk exposure data into actionable insights…

Quote of the Week: “Insurers that cannot make faster, smarter, and safer decisions about their product offerings will not be able to sustain their business.” #insurtech #risktech #riskmanagement #propertyandcasualty

Supply chain risk management has historically assumed an insured’s schedule of values remain static over long periods of time. However, the changing nature of risk requires underwriters and risk managers to take a more dynamic approach in assessing and obtaining risk information. #risktech #insurtech #riskmanagement #climaterisk

The United Nations’ report this week details how geospatial data and analytics have dramatically improved disaster risk management, natural resource management, and climate risk, noting “The effective integration of geospatial data has proven instrumental to deliver timely information necessary to make evidenced-based decisions.” Use geospatial analytics with Maptycs to transform your risk exposure data into…

Geospatial data and awareness are necessities, not luxuries, in addressing the most pressing issues for insurers and risk managers. Data without context limits the capability to solve problems, ranging from pandemic response to climate risk. Connect with the Maptycs team to see how our platform transforms your risk exposure data into actionable insights using our…

Enhanced monitoring, optimized reporting, and streamlined underwriting top the list of changes risk organizations must make moving into 2021. Connect with our team to see how Maptycs transforms your risk exposure data into actionable insights on it’s internationally recognized platform. #risktech #insurtech #riskmanagement #propertyrisk #propertyandcasualty

Geospatial analysis has dramatically improved disaster response to Covid-19 by improving emergency resource management and spatial awareness of high-need locations. The applications by Kenya showcase how various organizations can take advantage of new #insurtech to support their own companies. #risktech #riskmanagement #propertyrisk #climaterisk #covid19 #rapidresponse

Effective property risk management entails coordination with local utilities and emergency response units, both in bolstering modeling with more accurate information and in rapid response. Insurtech that opens up communication lines are crucial to developing and maintaining risk strategies across various locations. Maptycs platform seamlessly brings together data from multiple sources and formats to quickly…

Global insurance pricing increased by 20% in Q3, the largest increase since 2012. As risk managers and brokers enter into the renewal period, advanced analytics and geospatial monitoring improve risk assessments for negotiations. Find insights hidden in your risk exposure data using Maptycs and our proprietary GIS platform. #risktech #insurtech #riskmanagement

The risk management function has greater capabilities and responsibilities with the intervention of greater #risktech and #insurtech tools. With increased severe weather events and pandemic response, investing both into the people and tools are crucial moving into 2021. #riskmanagement https://www.entrepreneur.com/article/359098

Communicating property risk should be wide-ranging and include large number of stakeholders. Insurers must place a greater emphasis on incorporating #insurtech to close insurance gaps and provide more advanced coverage for existing and new clients as businesses continue adjusting post-pandemic. #riskmanagement #riskanalytics https://www.propertycasualty360.com/2020/11/02/how-to-expand-your-book-of-business-through-existing-clients-2/

A key component of customer-centric insurance is limiting the amount of data silos “that hinder effective collaboration, undermine effective data management, and limit change.” Transitioning to more advanced #insurtech from legacy systems opens opportunities for your organization to work more effectively and efficiently, while adding greater value to customers. Maptycs’ platform brings together large datasets…

“Because geospatial technology employs multiple data sets to create efficient models […], it has the potential to enable smarter, more agile decisions in the future.” #risktech #insurtech #riskmanagement #propertyrisk #climaterisk

The loss of 16,000 Covid-19 case records in the U.K. is likely due in part to outdated spreadsheet software, underscoring how manual, dated technology dramatically increases the potential of large problems. Find the actionable insights hidden in your data through geospatial analytics, not spreadsheets. #risktech #insurtech #riskmanagement #dataanalytics https://www.telegraph.co.uk/technology/2020/10/06/test-trace-scandal-bungled-excel-spreadsheets-have-feeding-disaster/

The physical risks that businesses are exposed to vary widely from region to region, with some more predictable than others. Proactive risk management means consistently reviewing different geospatial and time horizon models to understand a broader range of outcomes. Maptycs’ platform makes it fast and easy to create and share custom What-If scenarios with geospatial…

Hardening across reinsurance markets will require more advanced risk analysis for this upcoming renewal period, so underwriters and risk managers must take proactive steps to adjust their risk strategies in preparation. #risktech #insurtech #riskmanagement #propertyinsurance

Quote of the week: “access [to data] is not enough. Data itself is sorely lacking without context — without the ability to use analytics to uncover the hidden value within.” #risktech #insurtech #riskmanagement #propertyrisk #riskanalytics

Accurate reporting and forecasting are critical for insurers, risk managers, and investors to determine the best risk strategies for the future. With greater uncertainty and an estimated $25 billion in cat losses this year, advanced big data analytics are crucial to provide actionable insights on future planning. #risktech #insurtech #riskmanagment #propertyandcasualty

With a greater trend towards more highly distributed supply chains, legacy systems for risk managers limit collaboration. The alternative: “[use] a cloud-based, software-as-a-service product development platform that allows engineers to simultaneous collaborate, design in real time and automatically keep an immutable, digital record of changes.” Stay ahead of the curve and use Maptycs to find…

Quote of the Week: “Tech puts us in the location, shows us what’s happened, predicts what might happen next, and then aids us in working toward innovative solutions to combat [NAT CAT] risks.” Allen Kwan, Swiss Re Corporate Solution. Investing in #insurtech and #risktech are no longer luxuries but must-haves for organizations to effectively mitigate…

California’s temporary ban on insurer policy cancellation is set to expire, which may prompt a mass exodus of insurers from the area. With similar situations throughout the world, it is imperative for both brokers and risk managers to carefully assess their risk strategies to adjust to policy outcomes in the near future. Geospatial analytics provides…

Storm Alex is likely to become the costliest European catastrophe this year, with flooding related impacts contributing to the main source of loss. As companies begin assessing the damages, geospatial analysis and real-time analytics are difference makers to provide rapid response insights and peace of mind. #risktech #insurtech #riskmanagement

The new AGCS report details the longer term changes businesses must make post-pandemic. For the future, businesses must take additional steps to de-risk their supply chains and utilize insurtech tools to build and maintain resilience. Finding actionable insights hidden in your risk data is more intuitive and effective with Maptycs’ Geospatial Analytics platform. Connect with…

One of the only ways for private insurance companies to reduce the cost of systemic risk events “in invest in mitigation.” With insurtech platforms like Maptycs, companies have access to a greater quantity and quality of analysis for actionable insights. #risktech #insurtech #riskmanagement

Quote of the week: “The problem of maintaining business operations in an increasingly volatile and complex business environment calls for proactive, integrated solutions encompassing people, data and infrastructure.” Find the actionable insights hidden in your risk data and stay ahead of the rising volatility. #risktech #insurtech #riskmanagement

Insurance customer expectations are always evolving, and brokers must take advantage of the predictive analytics from emerging insurtech to meet the needs of the more customer-centric industry. Staying ahead of the curve, both in understanding data and in understanding customers’ needs, is crucial now more than ever. #insurtech #risktech #insuranceindustry #riskmanagement

The lackluster response to catastrophes over the past few years, coupled with the ripple effects and conjoined risks related to Covid-19, are driving a more significant hardening of insurance markets. Brokers and risk managers must be aware of these shifts and adjust their risk management strategies to adapt to the new normal, utilizing new #insurtech…

Quote of the week from the Claims Innovation Virtual Conference: “Data is vital because you want to make informed decisions based on facts. Culture is key because culture is what helps you scale, and I believe that a culture of transparency and trust are foundational elements of any sustainable transformation strategy.” Bryant Vernon, CCO of…

The New York Superintendent of Financial Services ordered both domestic and foreign insurers to “start integrating the consideration of the financial risks from climate change into their governance frameworks, risk management processes and business strategies,” underscoring a global shift to greater focus on climate risk analysis. Brokers and risk managers must adjust and adapt to…

“While tropical cyclones often attract most focus given the high financial toll that landfalling events can incur, losses from ‘secondary’ perils cannot and should not be ignored.” – Aon Report 2020. More than half of insured losses have come from smaller secondary natural catastrophes, so breadth of risk preparation is as crucial as depth. Find…

With a record 9 named hurricanes already this year, and up to 6 major hurricanes projected by the end of 2020, risk managers and insurance brokers must manage ever rising CAT losses. As the year continues, businesses must take even greater steps to shore up their risk strategies and update rapid response plans around successes…

The WHO’s warning of a second COVID-19 pandemic surge underscores the importance of constantly updating and adjusting risk strategies as new information comes forward. Geospatial risk monitoring is critical to respond quickly to rapidly changing protocols and circumstances. #risktech #insurtech #riskmanagement #covid19 #coronaviruspandemic

The United States’ Commodity Futures Trading Commission (CFTC) first-of-its-kind report encouraged greater guidelines dictating how companies report the climate risks they face. With the west coast wildfires continuing with an above-average hurricane season, businesses should prepare now to revamp how they track and share their climate risk management strategies. #risktech #insurtech #riskmanagement #climaterisk

Quote of the week: ““In these unprecedented times it’s more important than ever to support our clients with risk knowledge, capital strength and tailored solutions.” – Swiss Re:#insurtech #risktech #riskmanagement #riskanalytics #propertyandcasualtyhttps://www.intelligentinsurer.com/news/swiss-re-expects-further-market-hardening-in-year-end-renewals-23406

The West Coast wildfires have already put an estimated $120B at risk, and the threat of fires are forecasted to continue into November. Whether the wildfire damage will be covered by insurance is not certain, underscoring the importance of proactive insurance communication. Maptycs’ platform allows insurers and risk managers to quickly collect, analyze, and share…

More than 20% of flood claims come from outside of FEMA’s flood zones. While much of the data for improved flood data exists, the large flood insurance coverage gap has widened because the sheer quantity of varied and unstructured data sets. Maptycs allows risk professionals to bring data sources across multiple formats and structures into…

A recent survey shows that more than one-third of CFOs have prioritized digital transformation following the Covid-19 pandemic. However, one major roadblock persists: “Legacy platforms make significant cross-functional changes difficult to execute.” Overhauling risk management strategies require a platform designed for cross-functional communication. Maptycs is optimized for global teams to quickly gather, analyze, and share…

In rapid response to catastrophic events, cross-functional teams that communicate quickly and openly are the key to mitigating risks. The tools your teams use are the difference makers in building and maintaining those well-oiled, fully-integrated teams. #risktech #insurtech #climaterisk #gis

Quote of the week: “Investing $1 in resilience early helps avoid on average $5 in future losses.” – Zurich Identify the actionable insights hidden in your data and strengthen your risk resilience using Maptycs. #risktech #insurtech #climaterisk #propertyandcasualty

The early start of the California wildfire season, which has burned more acres than the whole of 2019, coupled with the above-average hurricane season may add up to unprecedented losses in terms of property damage. Brokers, captive managers, and risk managers must take greater steps as past trends indicate the largest losses will occur later…

Rapid response to catastrophic weather events must take into consideration “the loss of available personnel both in the company’s claims department and at vendors who are needed for full and best response.” As Hurricane Laura lands in the middle of the Covid-19 pandemic, the preparation that has been done in months past are paying off…

“Wildfires in 2020, even at this early stage of the California season, have already burned more acres than the whole of the 2019 season.” Stay ahead the curve and prepare for rapid developments of property risk. Use Maptycs. #risktech #insurtech #riskmanagement#fireprotection#propertyandcasualty#climaterisk

Since the beginning of 2020, reports indicated an above-average hurricane season this year. Hurricane Laura’s upgraded status highlights the importance of preparing early and adjusting for increased threats in catastrophic weather events. Maptycs’ customers use our platform to stay up-to-date with real-time threat monitoring to adapt their rapid response plans quickly and effectively. Connect with…

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…

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…

“After a recurring pattern of [climate risks], they are starting to get priced in and risk premiums – which are reset annually – are adjusting to reflect the increased risk.” – Niklaus Hilti, Credit Suisse. #risktech #insurtech #climaterisk #riskmanagement

World Economic Forum – “With risk, the writing is always on the wall. We know the storm will eventually come, yet in most cases – when the storm hits – leaders are questioned about why they didn’t take more efforts to plan for a response. […] As we pivot and adjust our operations in this…

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…

Derecho storms in the American Midwest knocked out power for 1m+ customers this week. As the 2020 hurricane season and Covid-19 occupy most minds, it is imperative to stay prepared for a wide berth of catastrophic events as weather risks continue to rise this year. #risktech #insurtech #riskmanagement #climaterisk #climatechange

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…

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…

Advanced data analytics is only as useful or accurate as the data that goes in; for property and casualty insurers, this requires the insurtech you use to be geared specifically for the needs of P&C. Maptycs’ founders hold 40+ years of experience in risk management and insurance, giving its models the distinctive edge for risk…

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

Hurricane Isaias’s status and its impacts change hour by hour, reminding insurers and risk professionals that rapid response requires accurate tracking, quick and efficient communication, and developed risk strategies. Hurricane Isaias is likely the first of many this #hurricaneseason, so risk and insurance professionals must take greater steps and tech investments to properly mitigate against…

Airmic’s deputy CEO, Julia Graham, urges insurance buyers to start their renewal negotiations as early as possible to stay ahead of the rapidly hardening market. Maptycs’ platform provides risk and insurance professionals a significant leg up in understanding company’s risk exposures and take a greater analytical and strategic approach to negotiations. #riskmanagement #risktech #insurtech

A global second wave of Covid-19 is likely on the near horizon, and S&P warns it will further erode re/insurer’s capital buffers into the second-half of 2020. Property insurers, reinsurers, and risk professionals should be taking proactive steps now to evaluate business interruption coverages and exclusions and continue reanalyzing their risk strategies. Maptycs’ platform empowers…

Quote of the week: “There is an urgent need to integrate resiliency into core business strategy if businesses want to continue to thrive — or even remain operational.” #riskmanagement #risktech #resiliency #propertyrisk #insurtech

Reinsurance rates improved by 20% on July 1st, but captive managers and brokers should be wary as retrocession rates have increased sharply. For carriers, this means taking a serious look at your own exposures and adjusting risk appetites heading into 2021. #risktech #insurtech #riskmanagement #riskexposure #reinsurance #insurance

Colorado State University and Tropical Storm Risk have raised hurricane forecasts once again, predicting more serious potential natural catastrophes for this year’s hurricane season. Companies should incorporate the new data to update their models and adjust their risk management strategies. Maptycs combines real-time weather reporting with your property data to ensure risk is effectively mitigated.…

Insurtech has grown in importance as the Covid-19 pandemic has pushed insurers to introduce new technologies into their tech stack. In this process, it is imperative for insurers to intertwine digital innovation and technological advances into their core strategies and reevaluate the opportunities these new technologies provide. #insurtech #risktech #riskmanagement #riskmitigation

As infections rates in Florida continue doubling every week in June, companies must prepare for sudden shifts in reopening and closing of properties. It is important now to stay vigilant with risk management practices and think in the long-term to see over the hill. #risktech #covid19 #insurtech #riskmanagement #riskmitigation https://www.treasuryandrisk.com/2020/06/30/3-steps-to-prepare-for-reopening-and-for-covid-19s-second-wave/

Forecasters predict a 60% chance of an above-normal hurricane season, with only 10% chance being below-normal. While companies are focused on Covid-19 response, it’s crucial to stay aware of natural hazard risks that may compound risks already being managed. #riskmanagement #risktech #hurricanseason #insurtech #naturalcatastrophes #climaterisk

The “new” approaches to risk management are all about utilizing the new technologies available to strengthen best practices – better monitor risks through centralized data and improved collaboration. It’s why Maptycs was created by veterans of the insurance and risk management industry to meet the present and future needs of risk professionals. #risktech #insurtech #riskmanagement…

Assessing physical climate risk comes with a steep learning curve because the insights are not found in one single model or data set, they exist when they’re overlaid on one another. Maptycs’ platform opens up your data through geospatial visualization and advanced analytics. Stay one step ahead of the competition and find the insights hidden…

“A key to flood resilience — and disaster resilience more broadly — is to make it an integral part of overall strategy. Responding to individual events as “one-offs” is, generally, not cost-efficient. Nor is relying exclusively on civil flood defenses to protect properties.” Be proactive by having a full (geospatial) picture of your property risk.…

Data-driven storytelling has been monumental in communicating urgent healthcare information during the Covid-19 pandemic. Business leaders and insurers should utilize the same lessons in visualizing their data to walk their companies and clients through important improvements in their risk management strategies. Maptycs’ proprietary GIS platform enables risk and insurance professionals to quickly analyze and share…

76% of CEOs and CFOs state their businesses are somewhat to significantly exposed to climate risk, underlying the World Economic Forum’s report listing climate change as 4 of the top ten major risks of 2020. Climate change should be a top priority for companies and insurers, and proactive measures are impossible without analyzing the data…

The IMF’s recent report is a wake-up call: “I have seen very few businesses meaningfully address the physical risks that they face over the long term.” – David Kneale, Head of UK equities at Mirabaud Asset Management. Use Maptycs to take proactive measures to understand the physical risks that affect their business. Find the actionable…

In a survey of 1,000+ professionals, over 20% of respondents said they still do not have a pandemic continuity plan in place, while more than 60% have not added analytical tools for assessing their business operations. With the threat of a second, larger wave on the horizon, this lack of planning increases the potential losses…

A global pandemic and the resulting economic damage had been forecasted over a decade before 2020, but companies ignored the warnings. Much in the same way, climate risk will lead to large scale economic downturn unless companies prepare their businesses to respond proactively. Significant steps must be made by risk professionals to both better understand…

The COVID-19 pandemic has pushed business leaders to rethink and reshape risk management for their organizations, from client relationships to updating their technology and claims process. As businesses begin to reopen, it is critical for businesses to continue developing their risk strategies and preparing for low-frequency/high-intensity events. #riskmanagement #risktech #insurtech #covid19 #businesscontinuity #businessresilience https://www.propertycasualty360.com/2020/06/03/how-covid-19-is-reshaping-risk-management/

The end or easing of coronavirus lockdown measures does not mean companies should expect operations to return to normal.

Researchers predict 18 to 22 named tropical storms will form in the Atlantic this year, with 3 to 5 expected to become major hurricanes. This continues the past years’ trends, but recent update indicates larger activity than expected earlier this year. While Covid-19 is occupying the minds of all risk managers, captive managers, and underwriters,…

As businesses struggle with new operational hurdles, insurers have a unique opportunity to develop and reinforce strong, lasting relationships with policyholders. Proactive support, leveraged with advanced analytics, is a key difference maker and will lay the groundwork for long-term growth. #riskmanagement #risktech #insurtech #covid19

The extreme toll of COVID-19, coupled with what will likely be a long tail in both geography and time, means that the the novel coronavirus will dramatically change how insurance companies price and model similar risk into the future. For private companies and underwriters alike, don’t assume there will be a return to ways of…

As companies begin to restart operations, risk managers must prepare plans to ensure a smooth transition across their organization. The last thing anyone wants is a major property or business interruption, and risk management practices have to be adjusted to mitigate potential disruptions in a post-#COVID19 world. Successful risk management starts and ends with a deep…

Companies who have invested heavily in risk management capabilities, including recruiting senior risk management roles and regularly using risktech/insurtech tools, are best poised to rebuild quickly on stronger foundations. If your company hasn’t, “It’s not too late for other business leaders to follow suit, and start building the resilient organizations of the future.” #riskmanagement #risktech…

Many of the world’s top investors, asset managers, and risk experts are focusing their resources on assessing climate risk and its impact on the businesses they invest in; it’s all in the data. Business leaders should be approaching their own company’s future operations the same way. Use Maptycs. #riskmanagement #riskmitigation #climaterisk

During this pandemic, business leaders need to draw upon their EQ as much as their IQ to guide their teams and companies with confidence. It’s easy to get lost in the chaos, but the true test of leadership is finding tranquility in turmoil. Maptycs provides peace of mind for risk and insurance professionals by finding…

Companies will need to prepare for a “major rethink… in how they organize their supply chains” in a post-COVID19 world, and risk managers will be crucial in leading and supporting their companies as they reflect and restructure how their global supply chains operate. During this Great Pause, risk and insurance professionals have an opportunity change…

An important reminder that climate risks are projected to worsen in the coming months even as much of our attention is on the coronavirus pandemic. While businesses are just beginning to understand and manage their response to COVID-19, it’s imperative to develop deeper risk management strategies for severe weather events concurring with pandemic response. #riskmanagement…

Building supply chain risk resilience begins with greater visibility throughout the chain, and as companies continue to digitize their records, those who start developing better practices early will be better poised to withstand serious disruptions. Maptycs leverages our propriety GIS platform with big data analytics to give business leaders both quick, wide-view snapshots and deep-dived…

Historical loss records alone are not adequate in assessing climate risk, according to Swiss Re. As the losses due to weather events continue to increase, “insurers need to adapt to a dynamic risk landscape by closely monitoring and incorporating socio-economic developments, the latest scientific research on climate change effects, and the status of local risk…

When considering insurtech for your company, it’s important to look for both insurance AND tech expertise. Brokers, risk managers, and underwriters have unique needs, and the tech you depend on must understand your work in order to effectively improve business processes. Maptycs was created by a team with 20+ years in the risk management and…

Risk managers and insurance professionals need to prepare for a greater number of thunderstorms, tornadoes, and hurricanes this summer and fall. Especially as businesses adapt to a post-COVID19 world, it is critical to thoroughly re-examine risk strategies and continuity plans to weather the storms. Maptycs provides the actionable insights necessary to ensure you are best…

There are still many questions surrounding how COVID-19 will affect business interruption insurance claims, and analysts are split on if/how claims will be honored as the pandemic continues. Both businesses and insurers should prepare for both possibilities and adjust their projections accordingly. #riskmanagement#insuranceindustry#insurancecoverage#covid19

Swiss Re’s report reminds us that climate change effects should remain a top priority for business leaders. Extreme weather events will likely continue driving rising losses, therefore private businesses and insurers should take proactive steps today to better understand, project, and plan around Nat CATs. Take steps to shore up P&C risks by using Maptycs…