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In This Issue
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Featured
WebEx: RMS Data & Analytics
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Featured
WebEx: EQECAT Modeling & Batch
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RiskMeter
Online Integration
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RiskMeter
Exploring International Partnerships for Flood
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Florida
Fire & Police Tax Updated
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South
Carolina Premium Tax Codes Updated
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300
Sinkholes Added to Clearinghouse
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Account
Executive Opening
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EQECAT
MMI Decimals are Back
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EQECAT
Resources Page
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Upcoming
Events
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Online
Training Schedule
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Unsubscribe
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Featured WebEx: RMS Data
& Analytics
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A little over a year ago the RiskMeter Online formed
an alliance with catastrophe modeling firm Risk Management Solutions
(RMS). Through this partnership, RiskMeter users can get RMS
hazard data and ground up Average Annual Loss (AAL) and Probable Maximum
Loss (PML) metrics for the following natural hazard risks:
- Earthquake
- Windstorm
(Hurricanes)
- Winterstorm
- Severe
Convective Storm (Tornado & Hail)
Underwriters and MGAs will now have access to RMS'
industry leading data from their desktops by simply entering in a few
pieces of information. In addition, these reports can be run
anytime, anywhere and results can be returned in minutes.
RMS hazard data retrieved through RiskMeter includes:
Distance to RMS Coastline, MMI (Mercalli) Scores, Soil Type and much
more. RMS' proprietary hurricane and earthquake scores and risk
profiles are also available.
On Tuesday, February 15th at 2pm (EST) Daniel
Munson, Founder, RiskMeter Online will lead a live demonstration of
our RMS Data and Analytics. This presentation will last for
approximately 45 minutes and conclude with 15-20 minutes of
question and answer. To register for this event, please go here
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Featured WebEx: EQECAT
Modeling & Batch
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Over the last few months we've made significant
improvements to our EQECAT modeling and Online Batch
Processing. Our first update had to do with leveraging
EQECAT's WorldCat Enterprise software. This enhancement
allowed us to get yearly earthquake updates, as opposed to our
previous version, which was updated every few years. Another
improvement we made had to do with obtaining results for buildings,
contents and time. Originally, users would have to run the
model multiple times in order to obtain this information. We've
fixed this so users can enter separate values for each and generate
Average Annual Loss (AAL) and Probable Maximum Loss (PML) metrics
based upon the inputs. Finally, we've also made it possible to
run all of RiskMeter's EQECAT reports through our batch site (www.batch.riskmeter.com), enabling
users to get AAL and PML calculations 24/7/365.
On Thursday,
February 17th at 2pm (EST) Daniel Munson, Founder,
RiskMeter Online will lead a live demonstration of our EQECAT
Modeling and Batch Processing reports. This presentation will
last for approximately 45 minutes and conclude with 15-20 minutes of
question and answer. To register for this event, please go here
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Integrating the RiskMeter
Online
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Has your company thought about accessing RiskMeter
data directly through an agent portal or policy administration
system? If you have not, your agents and underwriters are
wasting valuable time validating this information outside of their
work stations.
Successful carriers are now automatically validating
information provided by their agents at the time of quote. By
integrating the RiskMeter Online, carriers can comfortably quote and
bind in real-time by using validated information. In a previous
study, we found that up to 15% of all policies are incorrectly
rated. This is due to the agent or underwriter having to
manually determine the proper rating territory with paper
definitions. This process can be done automatically via
RiskMeter integration for the most efficient results. What is
15% of your TIV?
We here at RiskMeter Online have partnered with over a
dozen large and small agent portals and policy admin systems to
reduce key strokes and streamline the underwriting
process. We have also simplified our web services for in-house
integration projects. If you have not discussed
integrating RiskMeter Online into your solutions, now is the time.
For more information, please contact Val Feeney,
Partnership Manager, RiskMeter Online at Email or 617.737.4444
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RiskMeter Exploring
International Partnerships for UK and Australian Flood
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CDS is currently exploring relationships to provide
flood information in other countries. At the top of our list
currently are the UK and Australia. We are looking at companies
that can identify areas susceptible to 1 in 100 year flooding (other
return periods as well), among other things. If your company
would be interested in this, we'd like to know. We have a
company we're working with which covers the UK. We are
looking for some interested parties who may be interested in doing
some trials for the UK. In addition, due to the recent flooding
in Australia, we're also looking to partner with a company that
provides flood information there.
Eventually, we plan to add other perils as well. These include
earthquake, hurricane/cyclone, distance to coast, bushfire, hail,
elevation, tsunamis and more. We'd love to understand if our
customers have a need, and what countries/regions would be most
important to them. Please send feedback to Daniel Munson, Founder,
RiskMeter Online at Email
or 617.737.4444
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Florida Fire & Police
Tax Territories Updated
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We've recently published the latest updates the state
of Florida has made to its fire and police tax territories. If
you're not familiar with this tax, certain municipalities and fire
districts in Florida have set up pension funds, which are funded by
premium taxes. These taxes require insurers to report to the
state the total premiums for each jurisdiction. Despite best
intentions, determining the correct jurisdiction for an
address can be a major issue for insurers and may result in
paying expensive fines and penalties. RiskMeter has automated
this process and can alert insurers if a tax must be paid, as well as
return the proper jurisdiction code, county name and tax type (fire,
police or both). In addition, we've also made it possible for
users to run their books of business through our Online batch site at
www.batch.riskmeter.com. For
more information, please contact Daniel Munson, Founder, RiskMeter
Online at 617.737.4444
or Email
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South Carolina Premium Tax
Codes Updated
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South Carolina Premium Tax Codes Updated
The official tax codes for the State of Carolina have
been updated and published on the RiskMeter Online. We've
automated this process and by simply typing in an address, it's
possible for underwriters and agents to assign the official
jurisdiction code, county name and FIPS code to every policy.
Users may look up individual addresses or run multiple addresses
through our batch site at www.batch.riskmeter.com. Premium
tax reports are also available for AL, DE, FL, GA, IL, KY,
LA, NJ, NY and TX
as well. For more information, please contact Daniel Munson,
Founder, RiskMeter Online at 617.737.4444
or Email
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300 Sinkholes Added to
Clearinghouse
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CDS is proud to announce we have just added 300
sinkholes to RiskMeter's sinkhole clearinghouse. This program
was created in an effort to provide our users with the most
comprehensive sinkhole report for Florida. For the past few
years RiskMeter has been coordinating a sinkhole clearing house for
carriers. By sharing sinkhole information, we believe it will enable
carriers to have the most accurate picture of sinkhole activity in
FL. We've added thousands of sinkholes not available from public
sources to this database from carriers. Missing just one of these
could lead to a very costly claim! Get involved today!
For people who aren't familiar with this program, here's how it
works. Insurers who submit reported sinkholes will have access to an
exclusive database, which is comprised of our data and other
carriers' data. Taking part in this program is a win-win situation
because it will give users a better picture of their sinkhole risk.
To find out more about this program, contact Jamie Munson at 860.854.6125
or Email
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Job Posting - Account
Executive
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The RiskMeter
Online is looking for an energetic, self motivated and 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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New Service: Manual
Geocoding
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Geocoding is the first step in almost all spatial
analysis. Through this process an address is supplied and a
Longitude and Latitude is assigned to the address.
When addresses are entered into RiskMeter, geocoders
are constantly trying to fix misspellings, missed prefixes, suffix's,
town names and zip codes. Although this may yield excellent
results, there are many instances where geocoding will be off.
The spotted point could fall on a mailbox, storage shed, driveway,
neighbor's house, etc. Unfortunately, this could mean the
difference between being in and out of a FEMA flood zone!
Currently, a lot of our broker clients have been
running monthly schedules through the RiskMeter Online Batch
site, to check for flood exposure. Many of these schedules
contain oil refineries, college campuses, corporate headquarters,
hospitals, etc. When these policies are run in batch, you have
no way to telling if the spotted point is on the correct building,
unless you manually check them yourself!
Over the years we have been performing manual
geocoding services for many of our clients, who required
the highest level of geocoding accuracy. We'd like the
rest of our customers to know that we can manually geocode your
schedules as well. All you have to do is send us your schedule
and we will manually plot the points on our aerial photos
and natural hazard maps.
For pricing and additional information, please contact
Daniel Munson, Founder, RiskMeter Online at 617.737.4444
or Email
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EQECAT MMI Decimals
are Back
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When we recently
moved to a newer EQECAT (EQE) earthquake model, the Modified
Mercalli Index (MMI) scores were changed and only returned whole
numbers (Traditionally MMI scores are returned as a Roman numeral
between I - XII). Unfortunately, this caused problems for
customers who wanted to set thresholds in between (ex. 7.5 or
8.5). EQE recently made some changes to their model, one
of which includes getting decimal values back again. We've
updated these fields and users will notice this change on
RiskMeter. In addition, we've also added some additional
information. To read the rest of this article, visit here
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EQECAT Earthquake
Scores Transition PowerPoint Available
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Over the years we have compiled many different maps,
presentations and statistics. At the end of last
year we decided to make this information available to our users
through our glossary/resources section in RiskMeter.
We're happy to announce we've just added a new EQECAT
section to this page. In this page you'll find lots of great
information on our EQECAT offerings. In addition, we've
recently posted a PowerPoint, which compares the old and new EQECAT
earthquake scores. Also, there is a white paper and
presentation on our EQECAT AAL & PML Hurricane and Earthquake
Model. To view the EQECAT resource page you will need to log
into RiskMeter. Once you've logged in, you will notice several
hyperlinks (New Address, View Account, etc.) on the bottom of the
page. All you have to do is click on the glossary/resources
link, and you will be taken to a landing page, which contains the
resources link.
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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
CIWA
Wholesaler Industry Day
January 12-14, 2011 * San Diego, CA
Napslo
Mid-Year
February 23-26, 2011, 2010 * Naples, FL
PCIAA Joint
Marketing & Underwriting
April 3-5, 2011 * Las Vegas, NV
AAIS Main
Event
April 10-12, 2011 * Ponte Verda Beach, FL
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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
Wednesday, January 26, 2011
2PM - 3PM (EST)
National
Risks
Wednesday, February 2, 2011
2PM - 3PM (EST)
Western
Risks
Wednesday, February 9, 2011
National
Risks
Wednesday, February 16, 2011
Western
Risks
Wednesday, February 23, 2011
Featured WebEx
Events:
To secure your spot for any of the featured WebEx
events, please register here
RMS Data
& Analytics
Tuesday, February 15, 2011
2PM - 3PM (EST)
EQECAT
Modeling & Batch
Thursday, February 17, 2011
2PM - 3PM (EST)
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