|
In This Issue
|
|
Featured
WebEx: RiskMeter Web Services
|
|
2010
Data Added to Tornado & Hail Reports
|
|
Hail
& Tornado Studies
|
|
Featured
WebEx Recording: Hail & Tornado - A New Type of Analysis
|
|
Automated
Batch Processing Coming Soon!
|
|
Advisen
Earthquake Report
|
|
Novarica
ACE Rankings
|
|
MGAs
and Multiple Custom Coastlines
|
|
RiskMeter
Moves CA & WA Tsunami Reports to Live Server
|
|
Report
Spotlight: Dam Inundation Areas
|
|
RMS
Version 11.0 Hurricane Model is Live
|
|
EQECAT
US Earthquake Fact Sheet
|
|
Featured
WebEx: Recordings
|
|
Upcoming
Events
|
|
Online
Training Schedule
|
|
Unsubscribe
|
|
|
|
|
Featured WebEx: RiskMeter
Web Services - Integrating the RiskMeter into Quoting and Processing
Systems
|
|
|
Eliminating
repetitive steps during the quoting and underwriting process is vital
in today's competitive insurance industry. More and more
organizations are seeing for themselves how automation has improved
underwriting efficiency and helped to boost agents' sales. By
integrating with the RiskMeter Online, it's possible to:
- Eliminate
duplicate data entry
- Validate
information as its entered
- Pre-fill
natural hazard data and building characteristics
- Truly
quote and bind online, because the data is validated prior to
being bound
Make straight-through-processing a reality!
RiskMeter understands the need to streamline your processes and can
help you make that happen. Integrating the RiskMeter into
in-house or 3rd party quoting and underwriting systems is easy!
We have excellent tools and support available, including sample
programming code, documentation, an XML generator and a complete
integration support portal.
On Wednesday,
July 27th at 2pm (EDT) Dan Munson, Founder, RiskMeter
Online will lead a live, online demonstration about the various
integration options available, their advantages, as well as answer
any questions. To secure your spot for this event, please
register here
|
|
2010 Data Added to Tornado
& Hail Reports
|
|
|
The National Weather Services' Storm Prediction Center
in Norman, Oklahoma, reports that there were 1,282 tornadoes in 2010. Thunderstorms
and tornadoes accounted for the largest share of insured losses from
natural disasters in 2010, topping winter storms ($2.6 billion),
floods ($1.1 billion), earthquakes ($128 million) and tropical
cyclones ($120 million), according to Munich Re.
So far there have been over 1,400 tornadoes in the
first
five months of 2011, causing 515 deaths and billions of dollars in
insured property damage, according to the Insurance
Information Institute. In order to provide our users with the
most up-to-date information, CDS has just added 2010 data to
RiskMeter's Hail and Tornado reports. These reports are now
based on information from 1990 - 2010. For more information,
please speak with Amanda Brax at 617.737.4444 or Email
|
|
Hail & Tornado Studies - Model Overview
& Results
|
|
|
Each year as we
update our hail and tornado models with the latest data, we also
update our models' findings. RiskMeter's hail and tornado
studies are designed to help insurers identify the patterns and
trends in data. Our goal is to help insurers understand what
the models mean and give guidance on how to use them in
underwriting. To receive a copy, please contact Amanda Brax at
617.737.4444 or Email
|
|
Featured WebEx Recording:
Hail & Tornado A New Type of Analysis
|
|
|
We've recorded last
week's Hail & Tornado WebEx titled: Hail & Tornado Risks -
A New Type of Analysis. The recent tornado
outbreaks have been devastating to victims and insurers bottom
lines. Loss estimates for the recent storms have been as high
as $6
billion, and in general, hail and tornado losses have
been growing over the past couple of years. Carriers writing in
the Midwest are starting to ask, "How can we manage this growing threat?"
To learn more about minimizing your hail & tornado risk, please
request a link and PowerPoint presentation from Ryan Turgeon at
617.737.4444 or Email
|
|
Automated Batch/Schedule
Processing Coming Soon!
|
|
|
RiskMeter is
pleased to announce that we will soon be able to take batches in an
automated fashion. If you are used to getting schedules, your
system can now send the schedule as
an XML file to us, and we will append the RiskMeter info to your
table. This will then be ready for you to pick up via
FTP. This will allow you to completely automate by adding
RiskMeter data to your submissions. It will eliminate the manual
steps required of uploading and downloading to process batches.
For companies looking to automate their underwriting more, we feel
this is a step towards that goal. For additional information,
contact Dan Munson at 617.737.4444
or Email
|
|
Advisen Earthquake Report
|
|
|
We're giving our
newsletter readers special access to an Earthquake report titled:
"Fourteen Months of Major Earthquakes and What They Mean to the
Global Insurance Industry".
In any given year, there are scores of earthquakes, most barely
significant enough to rattle a teacup. But since January 2010,
the globe has been rocked by eight earthquakes of magnitude 6.1 or
greater, one of which was 9.0. Two resulted in enormous loss of life
and many caused significant property damage.
In this special report, we examine this phenomenon and its impact on
the global insurance industry, as well as on disaster modeling.
We will also look at how U.S. earthquake insurance coverage may be
re-evaluated, particularly in the wake of the devastating March 11,
2011 earthquake in the Tohoku region of Japan. Report
|
|
Novarica ACE Rankings™
|
|
|
RiskMeter Online is asking our users to participate in
the Novarica Average Customer Experience (ACE) Rankings™. ACE
Rankings™ provide a transparent, unedited picture of how well a
solution or provider meets its users' needs. In addition,
Insurer or bank executives completing an ACE Ranking™ can choose
between a copy of the ranking report for the solution or a $500
credit towards any other Novarica report. To take part in the
Novarica ACE Rankings™, go here
|
|
MGAs and Multiple Custom Coastlines
|
|
|
MGA's quite often write for more than one
carrier. When measuring the distance to coast, this can be
problematic. There is no agreed upon standard as to what the
coastline is. Therefore, various carriers can interpret the
distances differently, which causes confusion for the MGA. The
MGA may not know exactly how a carrier measures the distance to the
coast. For the MGA, this makes calculating the distance to
coast confusing and time consuming. Also, if the MGA is not
using the carrier's custom coastline, they may actually get back
different distances than the carrier!
The RiskMeter has a
solution. On a single RiskMeter account, multiple coastlines
can be used. So if an MGA works with four different carriers,
the RiskMeter can return four separate answers. This way, you
could get the correct answer for each carrier. But to do this,
we need the help of the MGA community. Let us know what
carriers you need coastlines for. Also, speak with your
carriers, and let them know how much this would help you. If we
can get each carrier
to define their custom coastline for us, we can load them on your
RiskMeter account if you write business with them. This way,
you would type in the address once, and get back the distance to each
carrier according to their rules. The custom coastlines can
also be used with our web services, which enables straight through
processing. For more information, contact Brad Sherwin 617.737.4444
or Email
|
|
RiskMeter Moves CA &
WA Tsunami Reports to Live Server
|
|
|
As we all know, a
tsunami was the result of the earthquake that hit Japan. Did
you know the maximum run up from this event reached 37.9 meters (124
feet) in height? While most insurers are aware of the risk of
earthquake in the western US, and have taken steps to mitigate this
risk, how many have done the same for a tsunami? As the Tsunami caused
incredible devastation in Japan, it could happen here, too.
Even the recent Tsunami that hit Japan had a small impact on CA, but
it resulted in an estimated $50 million in damage!
RiskMeter has moved its Tsunami reports for California and Washington
to our live servers. We
now provide Tsunami coverage for CA, HI, OR and WA.
We've digitized the tsunami evacuation maps for these states and can
tell you within a matter of seconds if a policy falls into one of
these evacuation zones. This report can also be run in batch to
identify tsunami risks in your book of business. For more
information, please contact Amanda Brax at 617.737.4444
or Email
Related Article: 38-meter-high tsunami triggered by March 11
quake
|
|
Report Spotlight: Dam
Inundation Areas
|
|
|
Since the
earthquake in Japan, lots of publications have been talking about the
next big one for California. One area of concern would be how
various dams throughout the state would handle a large seismic
event. As the Tsunami was a secondary source of loss from the
earthquake, flooding from a dam failing can be catastrophic as
well. In fact, the Isabella Dam is considered at risk due to a
fault, and could flood most of Bakersfield! Many companies
haven't considered this as a significant source of risk. We
have. In order to help our users assess this risk, we've added
California Office of Emergency Services (CA OES) Dam Failure
Inundation Area maps to RiskMeter.
CA OES Dam Failure Inundation Maps were created to protect property
and life from threatened or accidental dam failure. These maps
are based on a
worst-case scenario in which a reservoir is filled completely
and a dam fails immediately. By simply typing in an address,
it's possible for RiskMeter users to see if a policy falls into one
of these areas.
With this report it should be noted that these maps do not identify areas of
potential flooding resulting from storm or other causes, and
properties located outside an area of potential flooding (like FEMA
Flood Maps) may still be prone to flooding. To
assess this risk further, we recommend running our flood elevation
report in conjunction with this report. These reports can be
run in batch to identify all of the policies that might be affected
by a dam failure in your book of business.
For more information, please contact Daniel Munson, Founder,
RiskMeter Online at 617.737.4444
or Email
|
|
Tech Tip: One Click Ruler
|
|
|
Are there times
when you need an exact distance for a brush, flood zone or distance
to shore determination? You can now get an exact distance by
utilizing our One Click Ruler. You'll notice on your output page
above the map there are buttons, which say: "Zoom in, Zoom Out,
Manual Placement and Distance." Here's what you have to do to
get the exact distance: Click on the distance button above your map
on the
output page. Once you've done this, your subject will act as an
anchor! Next, pick the spot on the map that you need to check the
distance to. After you've clicked on that spot, your output page will
refresh, and you'll notice a line (with distance) going from the
subject (house) to the spot you picked on the map!
|
|
RMS Version 11.0 Hurricane
Model is Live
|
|
|
RMS' version
11.0 hurricane model is now live on RiskMeter Online. Catastrophe
models are unlike other models of insured loss, having a relatively
small number of historical data points compared to, for example,
highly predictive auto claims models. Thus, catastrophe modeling
methodologies and data continue to advance. Enhancements in RMS'
version 11.0 hurricane catastrophe model have principally come
through the availability of more and better data on hurricane
behavior pre- and post-landfall, due to increased instrumentation,
(10 times as much detailed wind speed data available compared to
eight years ago when hurricane hazard model was last updated),
together with ongoing increases in computing power, enabling more
simulations and at higher resolution than previously.
As a result of the model changes, RMS expects to see wind risk
increase for all hurricane states on an industry-wide basis. However,
individual portfolios will differ considerably depending on the
region and line of business. On a wind-only basis, portfolios
concentrated along the coast will show the smallest increase in wind
losses, and may even decrease in some regions. Portfolios consisting
of non-coastal exposure and commercial or industrial business will
generally show the largest increases. Article
If you are interested in adding RMS modeling to your account or for
more information, please contact Daniel Munson, Founder, RiskMeter
Online at 617.737.4444
or Email
References
Article 1
Article 2
|
|
RiskMeter Youtube: Parcel
Level Geocoding
|
|
|
We have created a
Youtube channel for our users. Our first video we have loaded
is our Parcel Level Geocoding WebEx. Over the next few months
we will be adding more of our featured WebEx presentations to this
channel. To view our Parcel Level Geocoding WebEx follow the
links below.
Parcel Level Geocoding
1
Parcel Level Geocoding 2
|
|
EQECAT Hurricane and
Earthquake Fact Sheets Added to Resources Section.
|
|
|
We've just added a
fact sheets for EQECAT's Hurricane and US Earthquake Model into our
resources section. These fact sheets contain information on the
sources and methodology behind the models. These sheets can be
used by brokers to explain how the model works to their clients.
To view this fact sheet you will need to log into your
account. Once you've logged in, you'll notice several hyperlinks
(view address, new account, etc) on the bottom of the page. All
you need to do is click on the glossary/resources link,
and you'll be taken to a landing page, which contains the
resources link.
For more information, please contact Ryan Turgeon,
Customer Support & Training at 617.737.4444 or Email
|
|
Featured WebEx Recordings
|
|
|
Over the last few months we've recorded Webinars on
various subjects. If you were too busy to attend any of these
information packed sessions you're in luck!
We have also recorded some other notable events,
including: The Importance of Building Characteristics in Catastrophe
Modeling, Parcel Level Geocoding, RMS Data & Analytics, Advanced
Flood, Flood Elevation & Storm Surge, EQECAT US Wind AAL &
PML and Virtual MGA Integration of RiskMeter Online.
To request a recording link or PowerPoint
presentations, please contact Ryan Turgeon, Customer Support &
Training at 617.737.4444 or Email
|
|
Upcoming Events - Meet the
CDS Team!
|
|
|
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
Texas
Surplus Lines Association
July 17-20, 2011 * Park City, UT
PCI IT Tech
October 2-5, 2011 * Charlotte, NC
NAPSLO
Annual Convention
October 10-13, 2011 * San Diego, CA
Target
Markets 11th Annual Summit
October 24-26, 2011 * Scottsdale, AZ
|
|
Online Training
Schedule
|
|
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
Western Risks
Wednesday, June 29, 2011
2PM - 3PM (EDT)
National
Risks
Wednesday, July 6, 2011
Western
Risks
Wednesday, July 13, 2011
National
Risks
Wednesday, July 20, 2011
Western
Risks
Wednesday, July 27, 2011
Featured
WebEx Event: Straight-Through-Processing
Date & Time: Wednesday, July 27 at 2pm (EDT)
Open to:
Customers & Prospects
Presenter:
Dan Munson, Founder, RiskMeter Online
Duration:
45 Minutes with 15-20 Minutes Q&A
Registration:
here
|
|
Unsubscribe
|
|
|
To be removed from
our mailing list, please Email pptashnick@cdsys.com and type
REMOVE in the subject line.
|
|
|
|
|
