A Behind-The-Scenes Look into Spatial Insurance and How it Works
Catastrophe Resiliency Network Podcast
Release Date: 08/11/2022
How Do You Best Measure Dependency Risk?
Catastrophe Resiliency Network Podcast
Sean Rider is the Chief Revenue Officer at One Concern, a firm that transforms risk into resilience and calculates how to make disasters less disastrous. There’s a fundamental problem happening in the world today and that’s digital infrastructures are failing. How do you best calculate when these electronic systems will fail, and plan for it? Sean shares his thoughts on this week’s podcast about how you can have a strong metric for something that seems very intangible. Key Takeaways: A little bit about Sean and One Concern. One Concern has built the digital infrastructure for...
info_outline
A Behind-The-Scenes Look into Spatial Insurance and How it Works
Catastrophe Resiliency Network Podcast
Christopher G. McDaniel is joined by Matt Schmidt from Ecopia AI. Matt is a Senior Associate and uses geospatial data to better calculate insurance and financial risk. In this week’s episode, Matt breaks down the importance of spatial insurance and how it works. At this current time, his firm is focused on creating a digital twin of earth, and they’ve got some exciting 3D representations of the entire United States, but how does insurance leverage this data to make better risk assessments? Matt shares his insights! Key Takeaways: An introduction of today’s speakers and...
info_outline
How to Better Identify and Manage Risk Through the Use of Analytics
Catastrophe Resiliency Network Podcast
AIR Worldwide is one of the top data solution providers in the catastrophe modeling world. AIR provides risk modeling software and consulting services that make individuals, businesses and society more resilient to extreme events. Today, Chris welcomes Bill Churney, president of AIR Worldwide. He’s responsible for setting global strategy and overseeing the worldwide operations for the company. Bill has extensive experience working with companies to better understand how they manage risk and identify ways to use analytics to improve catastrophe risk management. He shares his thoughts and...
info_outline
What the Federal Insurance Office (FIO) is Requesting on Climate Change
Catastrophe Resiliency Network Podcast
In August, the US Department of the Treasury announced that the Federal Insurance Office (FIO) will be requesting information from the insurance and climate sector as a response to President Biden’s May 2021 Executive Order on climate change. In this episode, Chris welcomes Dale Porfilio, Chief Insurance Officer of Insurance Information Institute (III), to talk about the FIO’s request. Dale oversees the Research and Education division, working closely with III subject-matter experts to develop data-driven industry insights and analyses. He shares his thoughts and III’s responses to the...
info_outline
How to Evolve the Catastrophe Model to Take Advantage of Technical Advances
Catastrophe Resiliency Network Podcast
In this Catastrophe Resilience Network episode, Chris McDaniel welcomes Dickie Whitaker, CEO and one of the founders of Oasis Loss Modeling Framework. Dickie also co-founded and worked for The Lighthill Risk Network, FiNexus Ltd, Oasis Palm Tree Ltd, and the Oasis Hub. He shares his insights of the current catastrophe model and how it should be adopted with our rapidly changing technologies. He also talks about Oasis and how insurance is a force of good despite how others may perceive it. Key Takeaways: What are some of the key issues and risks in the insurance industry? ...
info_outlineChristopher G. McDaniel is joined by Matt Schmidt from Ecopia AI. Matt is a Senior Associate and uses geospatial data to better calculate insurance and financial risk. In this week’s episode, Matt breaks down the importance of spatial insurance and how it works. At this current time, his firm is focused on creating a digital twin of earth, and they’ve got some exciting 3D representations of the entire United States, but how does insurance leverage this data to make better risk assessments? Matt shares his insights!
Key Takeaways:
-
An introduction of today’s speakers and topic.
-
What’s Ecopia’s vision? To create a digital twin of the earth!
-
A bit of history about Ecopia and how they first got started.
-
What is spatial insurance and why is it important?
-
How do carriers get spatial locations right?
-
How does Ecopia locate objects differently compared to other geotracking companies?
-
With all the data that Ecopia is capturing, how do Matt and his team sift through that data to find what’s relevant?
-
What would make the data incomplete or inaccurate?
-
What’s next for Matt and Ecopia?
Resources:
Email: crc@theinstitutes.org