Flood

In 2022, floods and flash floods caused nearly 2.8 billion U.S. dollars worth of property
and crop damage across the United States. Flood hazards can result from several
factors, including heavy rainfall, storm surges, hurricanes, snow melt, dam breaches,
and poorly planned urban expansion.

Flood damage is not only structural, such as the destruction to homes, commercial
buildings, bridges, roads, and other infrastructure, but also creates significant damage
to contents with the loss of personal belongings and severe interruption to businesses
and communities.

For the catastrophe analyst, understanding past flooding activity and predicting flood
events, mapped to the portfolio of insured assets or built environment is a powerful
mechanism to evaluate risk, effectively decide premium pricing and also uncover
fraudulent claims activity.

Data used: In this analysis we have mapped building footprints using OSM data. In
addition, we have integrated modeled flood depth levels for both river and flash flooding
at different return periods provided by our data partner Fathom, a global leader in flood
and climate risk analysis and modeling.
Understanding this visualization: The visualization shows the built assets that are
at risk from future flood damage, based on the modeled data. An average risk score has
been calculated for each building asset based on elevation, with a prediction of average
flood depth across the city, giving catastrophe analysts powerful insights to better
assess the risks posed to the built environment due to future flooding events.

Fire

2023 has seen extremely high levels of wildfire activity around the world. Utilizing
location intelligence, catastrophe analysts can identify spatial patterns and
vulnerabilities related to fire hazards. This enables thorough risk assessment, aiding in
the optimization of insurance strategies, implementation of effective mitigation
measures, and enhancement of disaster preparedness in wildfire-prone regions.

For instance, the visualization below employs a Wildfire Risk Index (WRI), which
calculates the likelihood of fires to occur based on temperature, wind levels and
vegetation. Catastrophe analysts can use this score to understand risk levels, both for
wider neighborhoods as well as individual properties.