Guy Carpenter Licenses the CoreLogic U.S. Inland Flood Model

By Staci Wellentin, VP Product Management | August 20, 2018

This post is part of a series sponsored by CoreLogic.

2017 was a game-changing year for the insurance industry. Between the catastrophic deluge of water dumped in Texas from Hurricane Harvey and the unprecedented underinsurance rates of families whose homes and lives were affected, there’s been an increased focus on flood risk by both insurance and reinsurance companies alike.

A detailed analysis by CoreLogic® in Texas and Louisiana from the rainfall of Harvey showed that about 70% of the flood damage was uninsured. After seeing the devastation of the past year, FEMA’s former National Flood Insurance Program (NFIP) Director Roy E. Wright said, “Recent flooding disasters make even clearer the need for FEMA to share more of the financial risk from flood insurance with the private markets.”

Leading global risk and reinsurance specialist Guy Carpenter has now licensed the CoreLogic U.S. Inland Flood Model, further expanding and enhancing the foundation of their flood risk assessment capabilities. The licensing serves to cement another building block in the 20+ year-long Guy Carpenter/CoreLogic relationship.

The CoreLogic U.S. Inland Flood model enables clients to make informed portfolio risk management and underwriting decisions on flood risk, powered by the most complete, current, connected data available. It also expands modeling objectivity and flood analytics expertise of clients like Guy Carpenter.

CoreLogic has long been a leader in assessing flood risk in several industries, with a full suite of tools to enable clients to manage all sources of flood risk, from Point to Portfolio®, from flood determinations for lending purposes to catastrophic flood risk assessments for insurance and reinsurance purposes and beyond.

To learn more about the CoreLogic U.S. Inland Flood Model or any of the other 180+ global catastrophe models, visit www.corelogic.com/solutions/catastrophe-risk-management.aspx.

About Staci Wellentin, VP Product Management

Staci Wellentin is vice president Product Management at CoreLogic. She provides product leadership and direction for the Risk Management, Real Estate, Government and Energy Markets within the Insurance and Spatial Solutions Division. By providing strategic leadership for all aspects of the market awareness and validation and product management processes, Staci’s teams are able to provide best in class data and solutions to clients all over the world via a variety of delivery channels. Staci has 16 years of leadership experience in the information technology sector. She previously served as vice president of Administration for Lutheran Social Services of Wisconsin and Upper Michigan Inc., and senior manager of IT and Management Consulting Practice at Accenture prior to that. While at Lutheran Social Services, Staci served as vice chairman on the Board of Directors, member of the Executive Leadership Team, and reported directly to the CEO. She led administrative operations for the $80 million non-profit including information technology, agency-wide procurement, performance and quality improvement, agency real estate services, and facilities management. Staci made herself known for introducing efficiencies among difficult financial restraints earning the respect of her staff and peers. Staci holds a Bachelor of Business Administration in Information Technology from the University of Wisconsin in Whitewater.

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