2019 AIR European Seminars
Access to presentations from the 2019 AIR European Seminars.
Climate Change Perspectives
Peter Sousounis, PhD, VP and Director of Climate Change Research, AIR Worldwide
As the Earth’s climate is changing, the insurance industry is faced with complex challenges that have no simple answers. What does climate change mean for catastrophe modelling and the insurance industry in the next 10 to 15 years and beyond, and what steps are being taken to help organisations prepare for the future and mitigate their risk? In this session, Dr Sousounis, AIR’s Director of Climate Change Research, will explore how climate change may influence different atmospheric perils and describe our plans to develop models that represent the risk from those perils under different climate scenarios.
Conquering Cyber Risk
Bethany Vohlers, Senior Manager, AIR Worldwide
Demand for cyber insurance grew faster than all other lines of business in 2018, and rapid growth is projected to continue, with the total affirmative US commercial cyber market forecast to grow to more than USD 6.2 billion by 2020. This session will describe how AIR’s cyber risk modelling platform, ARC, and new probabilistic cyber model can help your organisation quantify and manage your cyber risk due to data compromise and cloud service provider downtime.
Extratropical Cyclones and Severe Thunderstorms in Europe
Bernhard Reinhardt, PhD, CEEM, Manager, AIR Worldwide
In 2018, AIR released significant enhancements to our Extratropical Cyclone Model for Europe as well as our new Severe Thunderstorm Model for Europe. In this session we will demonstrate how these models complement each other to provide a complete and unified view of risk from the different types of storms occurring in Europe. We will also provide an overview of the enhanced modelling techniques employed by AIR, including an update on the latest research on hazard and vulnerability, as well as the data sets leveraged in building these models.
Understanding AIR's Next Generation Modelling Framework
Cagdas Kafali, PhD, Senior Vice President, AIR Worldwide
Shane Latchman, CEEM, VP and Managing Director, AIR Worldwide
For the past few years, we’ve been telling you about the improvements we are making to many of the underlying components of our modelling framework. These changes will enable our models to support a wider variety of complex policy terms, account for spatial and coverage correlations and enable you to better quantify the uncertainty inherent in modelled loss results. Join the architects of this new framework to review the new capabilities we’re developing.
Updates to Modelling Floods in Europe
Richard M Yablonsky, PhD, Principal Scientist, AIR Worldwide
Alastair Clarke, PhD, Research Associate, AIR Worldwide
Insured properties in Europe continue to grow in number and are becoming an increasingly large part of global (re)insurers’ exposure to flood and storm surge risk. To help companies assess their risk from these damaging floods, AIR has expanded the domain of the inland flood model for Central Europe to include Poland and significantly enhanced the existing model for Austria, the Czech Republic, Germany, and Switzerland. We have also added storm surge for Great Britain as a component of our recently updated Extratropical Cyclone Model for Europe. The domain of the storm surge module for Great Britain now includes the entire coastline of both England and Wales.
US Hurricane and US Flood Model Enhancements
Cagdas Kafali, PhD, Senior Vice President, AIR Worldwide
Flood insurance in the US continues to expand as the industry seeks new areas for growth and questions linger about the future of government-backed flood insurance programs. When AIR first released our US inland flood model in 2014, it provided the most detailed solution for risk assessment nationwide and helped make this growth possible. Now, we’re enhancing our solutions for flood risk management even further by adding precipitation-induced flooding to AIR’s US hurricane model to provide a truly comprehensive solution for this complex peril. This session will explore this and other key enhancements to this suite of atmospheric peril models, including hazard and vulnerability updates and the addition of new lines of business.
What's New in Touchstone and Touchstone Re
Colette Karakashian, Senior Product Manager, AIR Worldwide
Katharine Stevens, CEEM, Assistant Vice President, AIR Worldwide
The 2019 releases of Touchstone and Touchstone Re include a variety of exciting enhancements and new features. Touchstone, AIR’s detailed catastrophe modelling platform, features an enhanced user experience that facilitates running different models; expansion of APIs; and a more efficient process for sharing exposure data with Sequel Impact, a powerful tool designed to enable (re)insurers to visualise their cross-class exposure aggregations. The latest release of Touchstone Re—AIR’s reinsurance catastrophe modelling platform designed for assessing the loss potential of reinsurance contracts and portfolios—provides users with more control to adjust their view of risk and incorporates additional catastrophe models. You’ll learn how integration of the Analyze Re engine enables faster portfolio rollups, and how advanced loss modification factors provide users with more control to adjust their view of risk.
