Insurance insight: Risk and exposure management

Extreme weather events are predicted to increase as global climate change causes changes to meteorological and oceanographic systems whilst earthquakes and tsunami have both wreaked havoc in recent years.

While these conditions are outside human control, insurers can improve their risk and exposure analysis by investing in more sophisticated tracking and monitoring systems and incorporating these into their CAT models and pricing algorithms. However, success or failure is dependent on the accuracy of the underlying data and the systems employed to derive insight.

This two page paper highlights the key business challenges facing insurers and outlines strategic solutions they can apply to make faster, more accurate risk assessments and gain a competitive advantage over rivals.