Creating a New Hazard Analysis

 

You perform a Hazard Analysis on a single exposure view (Portfolio Mode) or contract (Underwriting Contract Mode).

Process overview

To perform a Hazard Analysis:

1.      In Portfolio Mode, create a project or open an existing project.

In Underwriting Contract Mode, add or open a contract.

2.      In Portfolio Mode, add an exposure view or select an existing exposure view.

3.      In Portfolio Mode, in the New Analysis area of the navigation pane, select Hazard. The New Hazard Analysis pane displays the name of the analysis target and indicates how much of the exposure data has not been geocoded. Since Touchstone does not generate results for non-geocoded locations, you may want to fix the data before running the analysis, if the percent of non-geocoded data is high.

In Underwriting Contract Mode, in the Contract Summary Dashboard, select Hazard. If Touchstone has not yet run a Hazard Analysis on this contract, the New Hazard Analysis pane appears. Alternately, if Touchstone has already performed a Hazard Analysis on this contract, the results of the most recent Hazard Analysis appear. In this case, click Analysis Options to configure a new Hazard Analysis for this contract.

4.      On the New Hazard Analysis pane, select the desired Hazard Analysis template from the Template list. Administrators can create and manage Hazard Analysis templates. For more information, see Hazard Analysis Template.

5.      In the Hazard Profiles area, select the check box for and configure each desired hazard profile. In each hazard profile, select the return values that you want to include in the analysis. You can also can flag specific return values, such as the 100-year loss level within a certain percentage range, the distance to the nearest fault, and soil types—when you flag a return value, the results table highlights the value in orange.

       Earthquake: Enables you to configure the earthquake profile options.

       Tropical Cyclone: Enables you to configure the tropical cyclone profile options.

       Flood: Enables you to configure the flood profile options.

       Terrorism: Enables you to configure the terrorism profile options.

       Severe Thunderstorm: Enables you to configure the severe thunderstorm profile options.

6.      In the Exposure Diagnostics area, select the exposure attributes check box and configure the exposure attributes and return values that you want to include in the analysis.

7.      In the Event Intensities area, select the event intensities check box and configure the event intensity data that you want to include in the analysis. This feature enables you to view and export the underlying hazard data that Touchstone uses to calculate loss.

  The Event Intensities feature requires a separate license.

8.      Click Analysis Management to configure analysis-specific functions.

9.      In Portfolio Mode, in the Analysis Name field, leave the default name, which includes the exposure view name and the type of analysis, or enter a unique, alphanumeric identifier.

  Entering some combination of the exposure view name along with the analysis type enables you to quickly find result sets in the Activity Monitor.

10.   Click Run. The application adds the analysis to the Activity Monitor queue for processing when the required system resources are available.

11.   View the analysis results.

 

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Touchstone V3.0 Updated December 01, 2016