The reliability of catastrophe modeling output is dictated by the reliability of the exposure data used as input. To help companies ensure the use of high quality exposure data, AIR has developed TruExposure™, a comprehensive suite of solutions to assess and improve the accuracy of a company’s exposure data. The following TruExposure solutions are available on a consulting basis.
Scoring, Data Validation, Benchmarking, and Augmentation
TruExposure’s core data assessment and enhancement capabilities, scoring, validation, benchmarking, and augmentation are available on a service basis for companies that do not license CLASIC/2™. Data will be analyzed and returned in a comprehensive data quality report and/or in catastrophe modeling ready files.
Data Management Review
AIR consultants will conduct a complete exposure data assessment. This includes a full TruExposure scoring, validation and benchmarking analysis. AIR also conducts on-site, hands-on review of processes for collecting exposure data used in catastrophe risk assessment. AIR will work with underwriting staff and managers responsible for front line operations to determine the effectiveness of the data collection process and to identify any potential shortcomings. AIR will report findings and recommendations for process improvement and an attestation of AIR’s conclusions to use with third parties.
Exposure Data Preparation and Cleansing
AIR can help companies prepare exposure data for catastrophe modeling. In turnaround times to fit any workflow, AIR will cleanse the data to remove anomalies and translate it into a format that can be easily imported into AIR’s CLASIC/2.
Listed below are additional materials of interest on exposure data management: