The combined price tag was an estimated $320 billion in property damage and unfortunately,
things are getting worse.
Natural disasters are, by nature, largely unpredictable. An earthquake can happen at any
moment, while a hurricane can rapidly change direction, speed and intensity. Ultimately, the
extreme nature and unpredictability of events like these can make a risk manager's and/or
claims leader's job very difficult.
Luckily, there is a growing array of risk-based technologies that are gaining prominence in
today's disaster-prone world. This research paper will help risk managers and insurers
understand how geospatial mapping, real-time data and analytics, and Artificial Intelligence
(AI) can assist an organization in responding quicker and more efficiently to catastrophes. In a
nutshell, they are helping them to be prepared for the unexpected.
READY OR NOT | 1
In the world of natural disasters, the names, Charley,
Harvey, Katrina, Sandy and Ian represent some of the
largest hurricanes to ever hit the United States.
And while these five storms may seem relatively small in
number compared to the more than 300 hurricanes that
have directly hit the U.S. since 1851, these disastrous five
have all taken place in just this century alone.
The Size of the Problem
The effects of global warming, potential
weather hazards, social unrest, and other
adverse events can impact properties,
business operations, and financial markets.
When a disaster strikes, it is critical for risk
managers and insurers to respond proactively,
rapidly and accurately to minimize losses.
