Karen Clark & Company, independent experts in catastrophe risk, catastrophe models, and catastrophe risk management, has introduced a new service, Thinking Outside the Black Box Catastrophe Management Operational Review. The Review provides a comprehensive examination of an insurance company’s use of catastrophe models and the integration of catastrophe loss analytics into risk management operations.
The Catastrophe Management Operational Review aims to help insurers develop better and more holistic risk assessment and risk management processes. It addresses all essential components of sound catastrophe management including data management, catastrophe modeling, underwriting, pricing and risk management.
Among other benefits, the Review helps insurers determine whether they:
- Accurately collect information pertaining to the exposure associated with new business
- Utilize appropriate and robust analytic tools as applied to their book of business
- Effectively use underwriting processes to accept business and control aggregate exposure
- Properly reflect catastrophe exposure in the development of rate indications and rating plans
- Appropriately reflect catastrophe exposure in determining target levels of profitability.
Source: Karen Clark & Company, www.karenclarkandco.com
Topics Catastrophe Risk Management
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