Harnessing Advanced Analytics for Effective Catastrophe Risk Management

Globally, natural catastrophe risk and loss costs are growing, primarily driven by urbanization, economic growth, the impact of inflation on loss costs and the effects of climate change.

While insurance carriers focus on achieving positive underwriting results, these catastrophe events – and the related complexities in underwriting, portfolio management and event response – all present headwinds.

Among the many issues carriers face, unexpectedly large losses from convective and hail storms, for example, may strain company resources needed for swift claims handling and reporting.