Insurance

Rapidly analyse
and price exposures across the world simultaneously.

With particular emphasis on the United States, Canopius need to quantify their exposure to flooding in order to inform pricing and facilitate exposure management.

In the United States, the FEMA flood maps provide some information, but the data is incomplete and often only includes larger rivers. A more comprehensive overview of risk, outside of state-funded hazard layers, can provide an advantage over competitors.

More specifically, Canopius needed to know:

How do we gain a more comprehensive view of flood risk in the United States?  

Are we over-exposed in a particular region?  

Can we gain a competitive advantage?

Sompo International have operating subsidiaries servicing clients worldwide through platforms in the US, the London Market, Bermuda and Lloyd’s.

They required detailed flood hazard information in order to support risk selection and portfolio management decisions for their international property, marine and energy portfolios.

Questions included:

How can they identify those risks that are exposed to flood hazard and those risks that are not?

How can they measure and manage aggregations of flood risk in a robust manner across all lines of business?

How can they achieve this in the most efficient way possible?