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The Catastrophe Loss Analysis System Designed for Insurance and Reinsurance Brokers, Reinsurance Underwriters, and Insurance Companies CLASIC/1™ enables the assessment of catastrophe loss potential for portfolios of property exposures using detailed information about individual risks. Underlying the system is the same robust analytical capability which powers the full-function CLASIC/2 system. The difference is in the reporting, which, in CLASIC/1, is at the portfolio level only. Utilizing AIR's industry-leading natural hazard models and offering an intuitive user interface, CLASIC/1 ensures the efficient delivery of reliable loss estimates for an entire insurance portfolio or customized segment (such as an individual company, department, division, region, etc). While loss potential is reported at the portfolio level, CLASIC/1 calculates losses at the location (i.e., geocode) level, recognizing site-specific construction details, locational characteristics, and detailed insurance policy and reinsurance contract terms. Ground up, gross and net losses are calculated and reported for each event. CLASIC/1 provides full probability distributions of both annual aggregate and occurrence losses by portfolio, region, event, reinsurance layer, and more. These results provide valuable information for use in strategic areas such as identification of the types of events that most threaten the financial position of the company, development of appropriate underwriting guidelines to mitigate loss, determination of risk transfer needs, real time loss estimation for planning purposes, and more. To facilitate the most accurate and efficient risk analyses, CLASIC/1 includes AIRGeocode Express™, AIR’s proprietary geocoding utility. The best assignment of a risk's location allows CLASIC/1 to make full use of the high-resolution geographical (e.g., land use/land cover, elevation, topography) and geological information embedded in AIR hazard models in estimating damage to an individual risk. Also included is AIR’s proprietary AIRMap Express™, which provides rich map views of risks at the individual location level or aggregated to postal codes, counties, states, and countries.
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