CATography: Property and Casualty Risk

These are challenging times for the property & casualty industry. Devastating hurricanes, tornadoes, hailstorms, floods, winter storms and wildfires are more frequent and costly. Weather volatility and terrorist threats are major concerns.

In today’s competitive landscape, innovative methods in risk differentiation are what set JLT Re clients apart. We offer the tools and expertise to give our clients what they need most—insights to support sound and dynamic risk decisions.

As an integral component of JLT Re Analytics, CATography® offers industry-leading spatial tools to help our clients truly own their property and casualty risk. Built on the foundations of the best available catastrophe models and supplemented by our own unparalleled industry intelligence, CATography is an unsurpassed catastrophe risk management platform that combines robust mapping functionality with superb flexibility. Advanced mapping capabilities typically require a steep learning curve, but CATography delivers sophisticated metrics without the need for significant training. This means that you can start gaining insight immediately.

“CATography delivers sophisticated metrics without the need for significant training, which means that you can start gaining insight right away.”

RISK MANAGER

The CATography platform provides a suite of applications designed to assist your risk management needs from portfolio and exposure management, to location-level underwriting, to event response and claims management.

Managing and balancing catastrophe risk in an insurance portfolio is a challenging job and is becoming more complex. Risk managers are assigned with the monumental task of achieving the proper risk balance in their portfolios to reduce the dependence on reinsurance and increase capital efficiency.

Catastrophe risk management begins with analyzing and understanding your portfolio; both its composition and the geographic distribution of the underlying exposures. CATography Risk Manager takes portfolio risk management beyond the spreadsheet by allowing users to investigate their portfolio spatially, helping manage exposure and supporting the development of growth and optimization strategies. Additionally, through an integrated dashboard interface, users can quickly identify loss driving policies, lines of business and geographies that may be driving poor underwriting performance and/or increased reinsurance costs.

Finally, Risk Manager serves as a basic map development tool. Users are able import, geocode and visualize new exposure to support evaluating the addition of new books of business and multi-location account underwriting. Maps are shareable across the organization.

PERIL IMPACT & CLAIMS

The news is reporting a recent severe weather outbreak, impending hurricane landfall, active wildfire perimeters or earthquake event, and you know you have exposure that could be impacted. Critical at this time is getting a quick estimate of how many locations have been impacted and what the potential losses could be as the events and their details unfold.

CATography Peril Impact is a real-time event dashboard that aggregates weather, wildfire and earthquake event data, and calculates an approximate loss given the event perimeters and in-force exposure. Users have the ability to select desired estimated loss thresholds that will trigger email alert notifications. These alerts offer details on the loss driving reports to help inform what geographies were impacted and the potential magnitude of losses.

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As severe events occur, companies turn to their claims managers to offer the first insights into the potential loss. Leveraging the same underlying data feeds and event details from Peril Impact, CATography Claims provides users access to the current and historical event location and description details relative to policyholder locations. Users have access to a variety of map tools for selecting and exporting locations impacted by the event, and can import their own data (ex. adjustor locations, claims data, etc.) to help facilitate the claims management process.

UNDERWRITER & WEB SERVICES

Underwriting has evolved over time as an increased volume of information is available to the underwriter who is reviewing a policy application. Loss histories, credit reports and predictive modeling have become commonplace, however, detailed hazard information and modeled catastrophe loss estimates have been largely unavailable.

CATography Underwriter fills the gap by providing this information to the underwriter in an intuitive, user-friendly application, combining spatial analysis software with aerial and street-side imagery, hazard look-ups, modeled loss estimates and customized underwriting rules.

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More and more, our clients are seeking to make the underwriting process more efficient to help reduce costs and improve risk selection. For those clients with the information technology (IT) and the interest, we have developed a suite of web services capable of integrating with their policy processing systems, and delivering many of the key data elements and spatial analyses offered through our Underwriter application.

We provide access to geocoding, modeled catastrophe loss estimates and any customized exposure concentration checks to make necessary decisions on a timely basis. Additionally, we make available via web service all of our proprietary hazard scores including: Wildfire Risk Score (WFRS), Severe Thunderstorm Risk Magnitude Index (SToRMi), Enhance Flood Insurance Rate Maps (E-FIRMs) and our Earthquake Casualty Risk Score (EQCRS).

WORKERS COMPENSATION

CATography Workers Comp provides risk managers with the ability to track and evaluate employee counts and payroll, and their proximity to hazards such as terrorist targets, industrial facilities, nuclear plants and earthquakes. Exposure density maps provide an overview of concentrations while a variety of map tools allow the user to select the locations within specific radii or hand-drawn polygons. This product leverages the comprehensive terrorism targets from JLT Re’s market-leading probabilistic terrorism model, Sunstone™.

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For earthquake, users can evaluate likely loss estimates from live earthquake feeds, or use historical fault and intensity information to evaluate hazard levels for strategic planning.

CAT INSIGHTS

Within the CATography CAT Insights application, we breathe life into disparate data sources to generate custom, dynamic dashboards to extract insights and information. To date, our dashboards have been used to help clients track and evaluate profitability, monitor risk appetite, explore catastrophe model hurricane event data, manage portfolios and accumulations, analyze claims data and evaluate hazard risk (convective storm, earthquake, terrorism and wildfire).

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CATOGRAPHY CUSTOM SOLUTIONS

CATography is built on a flexible web-based platform so that we can directly meet the needs of our clients through customization and integration. Our customized implementations have taken many forms, including the integration of user-defined data, automatic data uploads, external model and hazard data, and the development of new applications. We pride ourselves on our ability to engage and partner with our clients to identify and offer the best solutions for their specific needs. For that reason, if it doesn’t exist in our current suite, we dedicate ourselves to building it.

Contact Us

Brian Bastian
+1 215 309 4580
brian.bastian@jltre.com

Theresa Carlson
+1 860 269 6883
theresa.carlson@jltre.com