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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.
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.”
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.
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.
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.
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.”
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.
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..
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.
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.