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In This Issue
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Featured
WebEx: Parcel Level Geocoding
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Featured
WebEx: EQECAT WIND AAL & PML
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Follow
Us on Twitter
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Hail
& Tornado Reports Updated
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Top
Ten Hail Prone Metro Areas
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Top
Ten Tornado Prone Metro Areas
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Crime
Report Updated
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Account
Executive Opening
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Flood
Study
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FEMA
Flood Map Updates
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Upcoming
Events
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Online
Training Schedule
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Unsubscribe
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Featured WebEx: Parcel
Level Geocoding
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In the real-estate
industry it's all about location, location, location. This holds true
when it comes to underwriting as well. CDS is proud to announce
that within the next few weeks it will be adding a parcel level
geocoding database to the RiskMeter Online. This new feature
will immediately help insurers when assessing natural hazard risks.
Although standard geocoding is reasonably accurate, parcel level
geocoding takes it one step further. When an address is run through
this database, it will place the address entered into the center of
the parcel. This is more accurate than street level geocoding, which
uses street segment interpolation.
Uses of Parcel Level Geocoding in Underwriting
The main benefits of parcel level geocoding will be in areas where
accuracy is vital. Storm Surge and Flood reports are two good
examples where the difference of just 100 feet can yield
substantially different results.
For example, leveraging parcel level geocoding in conjunction with
our Flood Elevation and Storm Surge reports can provide more insight
into how much risk a parcel of land is exposed to. This
information can be used to accurately price policies and in some
instances provide your company with low risk business other insurers
won't touch!
Another example of Parcel Level Geocoding would be assigning the
correct premium tax codes to policies. In certain states,
municipalities, counties and fire districts they have set up premium
taxes that must be collected and reported by insurers. Most of
time these districts are parcel specific. By leveraging our
parcel level geocoding, insurers can quickly and accurately assign
tax codes, while avoiding expensive penalties.
Parcel Level Geocoding WebEx Taking Place Tuesday, August 24th at
2pm (EDT)
Daniel Munson, Founder, RiskMeter Online will lead this live
demonstration. To secure your spot for Tuesday, August 24th at
2pm (EDT), please register here
Questions?
For more information, please contact Daniel Munson, Founder,
RiskMeter at 617.737.4444 or Email
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Featured WebEx: EQECAT
USWIND AALs & PMLs
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Within the next few
weeks CDS will be adding EQECAT's USWIND model to the RiskMeter
Online. But before we go live with this report, we're planning
to unveil it with a live demonstration led by Daniel Munson, Founder,
RiskMeter Online on Tuesday, August 17th at 2PM (EDT).
EQECAT'S USWind report is a must for brokers and underwriters
who are looking to analyze their hurricane risk. By simply typing
in an address, it's possible to get individual wind AAL & PML
results for residential and commercial properties from Maine to
Texas.
If you're not familiar with EQECAT's USWind report, it's updated yearly
and covers the US coastline (approximately 3,100 miles) of states
that are susceptible to North Atlantic Hurricanes, including
PR. This report expands on our current EQECAT offerings, which
mainly focus on Earthquake risks, and compliments the Earthquake AALs
and PMLs we already offer from EQECAT.
Registration Information
We have a limited number of seats to this event. To secure your spot,
please register here
Questions
For more information on this report, please contact Daniel Munson,
Founder, RiskMeter Online at 617.737.4444 or Email
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Get the Latest RiskMeter
Developments on Twitter
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The RiskMeter
Online is now on Twitter. We plan on using this service to
provide our users with the latest news regarding report updates, new
features & reports and upcoming conferences. To become a follower
of RiskMeter, please click the icon below.
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Hail & Tornado Reports
Updated
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We recently did our yearly updates to the Hail &
Tornado models. The updates added 2009 data to the models,
which now incorporate information from 1990 - 2009. We have
also updated the CDS Hail & Tornado studies, which explain how
the model was developed and what's changed within the last
year. The reports provide lots of useful information on these
weather phenomenons. To request copies of these reports, please
contact Ryan Turgeon at Email
or 617.737.4444
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Top Ten Hail Prone Metro
Areas
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CDS has just
released its annual list of the top ten hail prone metro areas.
This list is based on the RiskMeter Online's Hail Model, which
predicts the severity of hail for any location in the Continental
United States. According to this report, the following top ten
hail prone metro areas (pop 50,000+) are as follows:
- Amarillo,
TX (100)
- Rose
Hill, KS (84)
- Wichita,
KS (81)
- Tulsa,
KS (81)
- Oklahoma
City, OK (79)
- North
Cleveland, OK (76)
- Coweta,
OK (66)
- Denver,
CO (57)
- Fort
Worth, TX (56)
- Colorado
Springs, CO (54)
Hail events are a
constant threat to property and casualty insurers. In 2009
alone there were over 13,000 hail storms in the United
States. In addition, according to Swiss RE,
4 out of the top 20 most costly insurance losses were hail related.
For more information, please contact Daniel Munson, Founder,
RiskMeter Online at 617.737.4444 or Email
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Top Ten Tornado Prone
Metro Areas
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CDS has just
released its annual list of the top ten tornado prone metro
areas. This list is based on the RiskMeter Online's Tornado
Model, which predicts the severity of tornadoes for any location in
the Continental United States. According to this report, the
following top ten tornado prone metro areas (pop 50,000+) are as follows:
- Denver,
CO (100)*
- Hialeah,
FL (96)
- East
Adams, CO (96)
- Miami,
FL (95)
- Hollywood,
FL (93)
- Houston,
TX (92)
- Brighton,
CO (88)
- East
Arapahoe, CO (87)
- Miami
Beach, FL (82)
- St.
Petersburg, FL (77)
*Not downtown but a rural area to the northeast
Tornado exposure has and will always be a consistent threat to
insurers. According to the National Oceanic & Atmospheric
Administration (NOAA), in an average year the U.S.
experiences 1,200 tornadoes, which kills 55 Americans, injures
1,500 and causes more than $400 million in damage.
For more information, please contact Daniel Munson at Email or 617.737.4444
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Crime Report Updated
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CDS has just
updated RiskMeter's Crime Report. This report is updated twice a
year, and it's based on FBI Uniform Crime Reporting Statistics (UCR)
and demographic clustering, to estimate crime rates for very small
areas (census block groups). The latest update includes new
data from 2010. For users who aren't familiar with this report,
all you need to do is enter an address and it will return 10 crime
scores for a given location.
Many of our customers have found this report to be very useful when
writing commercial and residential property, by identifying high risk
areas prior to instituting coverage. Some of the areas our
customers found this to be most helpful, include: habitational
properties, bars/taverns, vacant buildings and crime coverage.
For more information or to test drive this report for two weeks,
please contact your account executive at 617.737.4444
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Job Posting - Account
Executive
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The RiskMeter
Online is looking for an energetic, self motivated, seasoned account
executive. The position is responsible for prospecting new
clients while maintaining existing relationships. This is a young,
exciting company which offers excellent compensation and benefits
including: 401K, health insurance, dental insurance, and T
passes. To see the complete Account Executive position or to
apply, please go here
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Flood Study
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According to
oft-quoted statistics from FEMA, between 1/4 & 1/3 of all
flood losses happen outside of the 100 year flood zone.
This is a large number! To help underwriters to evaluate the risk of
flooding near a flood zone, we've created the Flood Elevation report.
Besides the FEMA flood zone, this also provides the user with the
distance to the flood zone, and the elevation above or below the
BFE. In addition, over the years we have added a manual
placement tool and aerial overlays to provide our users
with additional features to assess flood risk..
To make the most of these new tools, however, we decided it would be
very helpful if we had answers to the following important questions.
- How
far away from flood zones do claims occur, and with what
frequency?
- What
elevation differences are needed to ensure safety?
- What
percentage of flood claims are in flood zones?
With this in mind, we are looking for customers who
would like to share claims data with us, and in turn, we would share
the results with the participants and the group. What we are
looking for are:
- Addresses
of claims
- Amount
of claims (optional)
- Flood
Zone you had assigned to the policy
We will only share
aggregate statistics with the group. No policy level
information will be shared. In addition, we are willing to sign
a NDA to this effect.
If you would like to participate, please contact Daniel Munson,
Founder, RiskMeter Online at Email or speak with your account representative at 617.737.4444
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FEMA Flood Map Updates
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New developments,
topology and changes in the environment, all have an effect on how
areas flood. RiskMeter's number
one priority is to give its users access to the best and most
up-to-date flood data. That's why our flood information is
refreshed on a monthly basis. During the course of the year FEMA
will issue roughly 12,000-18,000 map revisions,
which will be digitally updated on the RiskMeter Online. To see
our latest map revisions, click here.
Why Use RiskMeter to Check for Flood Zones?
There are many things an insurer should know about flood maps.
First, FEMA does not have digital copies of all of their
flood maps. We do. In addition, many of the digital GIS
maps shown on FEMA's web site are out of date. With their
flood mapping program, much of the data referred to is "Q3
data", which is more than 10 years old! So be
careful! Since FEMA issues so many updates during the course of
the year, using data that is outdated can be very risky to use for
underwriting and pricing purposes. Secondly, with RiskMeter's
flood reports a determination is made for you, so there's no map
interpretation required. Also, with our mapping technology, we
allow you to overlay flood maps (and other hazards) right on top of
the aerial photo. For larger risks, this feature can help you
to understand what parts of the facility or which buildings are in
flood zones.
How Batch Processing Can Help
If an area that you write business in has been updated, an easy way
to check your flood zone exposure for a book of
business is by leveraging our Online Batch feature. For those
of you who aren't familiar with the RiskMeter Online Batch
(ROB) service, it allows users to run multiple addresses or
schedules, without the need to type in each address
individually. RiskMeter's batch feature enables users to upload
a file and get the results emailed back in spreadsheet form anytime,
anywhere.
For more information on our Flood reports, please contact Daniel
Munson, Founder, RiskMeter Online at 617.737.4444 or Email
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Upcoming Events - Meet the
CDS Team!
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RiskMeter Online
will be attending or exhibiting at the following upcoming
conferences. Whether you're a customer or prospect, we'd love to
meet with you onsite at these exceptional events! Don't
hesitate to stop by our booth or if you wish to schedule an
appointment, please contact Daniel Munson (Email) or Bradley Sherwin (Email)
at 617.737.4444
AAMGA UFO
September 9-11, 2010 * Austin, TX
Napslo Annual Convention
October 11-14, 2010 * Atlanta, GA
Target Markets 10th Annual Summit
October 18-20, 2010 * Scottsdale, AZ
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Online Training
Schedule
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In order to help
you utilize the RiskMeter Online more effectively, we are now
offering complimentary training to all of our customers. This
is a great way for your organization to have its most pressing
questions answered, learn about the latest risk reports and discover
how to utilize cutting-edge features, such as: Birdseye Geocoding,
One Click
Ruler and Manual
Placement.
To attend any of
the complimentary training sessions, please register here
To attend any of the Featured events, please register here
Western Risks
Wednesday, June 28, 2010
2:00 PM - 3:00 PM (EDT)
National Risks
Wednesday, August 4, 2010
2:00 PM - 3:00 PM (EDT)
Western Risks
Wednesday, August 11, 2010
2:00 PM - 3:00 PM (EDT)
Featured WebEx: EQECAT USWind AAL & PML
Tuesday, August 17, 2010
2:00 PM - 3:00 PM (EDT)
National Risks
Wednesday, August 18, 2010
2:00 PM - 3:00 PM (EDT)
Featured WebEx: Parcel Level Geocoding
Tuesday, August 24, 2010
2:00 PM - 3:00 PM (EDT)
Western Risks
Wednesday, August 25, 2010
2:00 PM - 3:00 PM (EDT)
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