Webinar Highlights: Developing Innovative Solutions: Addressing the Trends of Tomorrow Today
Recent major weather events have occurred in close succession, but the types of the perils they create is also changing.
Advancing computing power means insurers can run high-resolution analysis and simulations in near-real-time settings.
Many businesses that did not have adequate insurance protection never recovered from the damage and disruption of events such as Superstorm Sandy.
Introducing greater flood protection means anticipating the specific risks and educating the policyholders as to potential losses.
Damage from major events can trigger other risks, which can compound losses.
Changes in federal and banking rules are offering insurers greater opportunities to compete in the market for flood coverage.
Leaps in computer processing speed is helping insurers better identify the likely path of flood waters.
Bringing together data on ground elevation, building stock and other related information allows insures to better identify the locations and values at risk.
Analysis based on historical anecdotes and patterns is giving way to more precise modeling based on available data combined with a better understanding of the physical world.