Every region in the world has its own unique risk profile and its own history of natural hazards and catastrophes. As damage from natural disasters is on the rise, a detailed understanding of a region‘s risk profile is becoming increasingly vital to policymakers, science, business, industry and society in general − and to the insurance industry in particular.
Today, it is quite common for companies to pinpoint their insured objects precisely by way of their geographical coordinates. This opens the door to a wealth of data facilitating superior risk assessments and growth opportunities. As Peter Hausmann, Head of Swiss Re's Cat Perils Europe hub explains: "CatNet® makes the risk profile of a given region visible. It combines hazard, loss, exposure and insurance information with selected background maps and satellite imagery to assess the risk of individual locations or entire portfolios. With CatNet®, you get a professional overview and assessment of your risk exposure across the globe – quickly and easily."
CatNet® is browser-based, ready to use and available free of charge for Swiss Re’s clients. Originally launched in 2003, the tool has been completely overhauled in 2016. Peter Hausmann on the benefits of the revamp: "We have further improved risk evaluation by adding new functions and
geographical information. Users are now able to import their own Excel worksheets with location data, integrate them into the maps, run a hazard look-up and export the results. The geographical database has also been expanded with lightning and volcano hazards, insurable values per square
kilometre and more."
The benefits of the new CatNet® at a glance:
- Improved single risk assessments for better bottom-line results
- Swift processes with new user interface to reduce costs
- Sound product development support to facilitate growth
- Increased transparency over different markets
- Unique high-resolution data now including lightning and volcanic hazards
- Very broad usage from underwriting to data cleansing and post-event discussions.
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