While Hurricane Isaias may be in the rearview mirror, recovery efforts are just beginning. With an estimated $4 billion in insured losses, P&C insurers must now turn their attention to understanding Isaias’ financial impact and quickly servicing customers. To do so, data becomes imperative to pinpointing damage and providing proactive outreach.
As you can see in the NOAA post-event aerial image below (Figure 1), sandbags indicate that insureds made attempts to protect their homes, yet the road is washed out and surge damage is evident. During an event like Hurricane Isaias, a host of datasets from both commercial and public sources, such as KatRisk, Kinetic, and NOAA (as shown in the post-event footprints below), are made available within Insurity’s SpatialKey Event Response solution, including wind, storm surge, and inland flood footprints as well as aerial imagery. This helps you not only mitigate potential claims through proactive outreach, but also compare multiple forecasts at one time for a more comprehensive view of potential exposure.
Move from “react and respond” to “prepare and serve” with automated event notifications and analyses
The Insurity team works around the clock as an event like Isaias evolves, to update and process expert data as it’s made available from our partner network. This way, rather than wrangling data, you can act on insight and provide proactive outreach to insureds. One of the ways we’re helping to exponentially ease the burden of operationalizing data is with automated event analysis and notifications.
Automated event analysis and notifications will:
- Automatically analyze your portfolio against each iteration of expert data available as a storm progresses, including wind, surge, and inland flood
- Notify you via email only when it’s relevant, based on thresholds you set. For example, you can be notified in near real time if more than 100 locations are in the path of a hurricane or when over $100 million in potential exposure is subject to hurricane–force winds.
In fact, during the course of Hurricane Isaias, the SpatialKey platform sent hundreds of email notifications letting Insurity clients know exactly what was in harm’s way—without them ever having to lift a finger. As natural catastrophes increase in frequency and severity, fueled by climate change, this technology can help make your service a competitive differentiator.
Hurricane Isaias post-event footprints now available within SpatialKey Event Response
Shown below (Figures 1 through 7) are just a few of the third-party data providers that we work with to help you assess your potential losses and provide you with multiple expert forecasts. Get in touch here to access any of this data, or reach out to your Insurity account manager directly.
Figure 1: NOAA – Aerial
In the above Hurricane Isaias post-event NOAA aerial image, clear surge damage is evident along this North Carolina coastline. Aerial imagery from August 3-5 covering the coastline from Florida up to Virginia has recently been integrated into SpatialKey Event Response, providing insurers with access to powerful data for assessing individual property damage.
Figure 2: NOAA – Wind
Shown above is a view of NOAA’s wind extent footprint for Hurricane Isaias with wind speed severity bands.
Figure 3: NOAA – Surge
Shown above is a view of NOAA’s surge extent footprint for Hurricane Isaias with severity bands.
Figure 4: Kinetic Analysis Corporation – Wind
Shown above is a view of Kinetic’s wind extent footprint for Hurricane Isaias with wind speed severity bands.
Figure 5: Kinetic Analysis Corporation – Surge
Shown above is a view of Kinectic’s surge extent footprint for Hurricane Isaias with severity bands.
Figure 6: KatRisk – Wind
Shown above is a view of KatRisk’s wind extent footprint for Hurricane Isaias with wind speed severity bands.
Figure 7: KatRisk – Flood
Shown above is KatRisk’s inland flood extent footprint for Hurricane Isaias. These bands show where the flood depths were the highest and lowest over the extent of the event for any given region.
Make data your service differentiator
The powerful data shown above is just a sampling of more than 20 leading third-party data providers available within Insurity’s SpatialKey platform, which includes underwriting, portfolio management, and event response solutions.
When catastrophes strike, data makes all the difference in your ability to mitigate damage, understand impact—both physical and financial—and most importantly, ensure that your level of service evolves with the expectations of your customers and stakeholders. SpatialKey Event Response can modernize your event response operations without disruption or heavy investment, creating operational efficiency, reducing claims costs and driving customer satisfaction and retention.
Is your team equipped with the best data in the wake of Hurricane Isaias? To access any of the data shown here and ensure you’re prepared ahead of the next storm, contact your Insurity account manager or get in touch here.