The reliability of catastrophe modeling output is dictated by the reliability of the exposure data used as input. That’s why capturing and maintaining high quality exposure data is one of the most significant issues confronting companies concerned with catastrophe risk. To help you overcome these challenges, AIR has developed a comprehensive suite of solutions to assess and improve the accuracy of your exposure data, including property replacement values, location information at high resolution, and information about the individual building characteristics that impact their vulnerability.
Exposure Data Preparation and Cleansing
AIR can help you ready your exposure data for catastrophe modeling. In turnaround times that fit your 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.
Portfolio ITV Analysis
AIR Worldwide’s Portfolio ITV ServiceSM analyzes portfolios of residential properties with the aim of enhancing insurance-to-value. Starting with as little as the addresses and Coverage A limits in your portfolio, the service first captures property-specific data from ISO PushPin™ and inputs the augmented data in 360Value™ to generate reliable and objective replacement cost estimates for each risk. Insurance-to-value is quantified by comparing 360Value-generated replacement cost estimates with company-provided Coverage A limits at the portfolio and policy levels.
On-Site Data Management Review
AIR consultants will visit your office to conduct a hands-on review of processes for collecting exposure data used in catastrophe risk assessment. AIR will work with your 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 our findings and recommendations for process improvement.
Listed below are additional materials of interest on exposure data management: