AIR Worldwide

CoreLogic and QOMPLX Join Forces to Expand Insurance Data and Model Offering

Retrieved on: 
Wednesday, August 4, 2021
Articles, Actuarial science, Academic disciplines, Business intelligence, Formal sciences, Analytics, Big data, Reinsurance, Insurance, AIR Worldwide

Broadly, this relationship will further expand QOMPLXs offering of cutting-edge insurance data, services, and models to the insurance and reinsurance industry.

Key Points: 
  • Broadly, this relationship will further expand QOMPLXs offering of cutting-edge insurance data, services, and models to the insurance and reinsurance industry.
  • Key features include:
    Diverse Suite of Offerings Variety in models, data and services
    This robust offering for insurers and reinsurers is emblematic of QOMPLXs unique role in risk analytics.
  • The underlying capabilities of the QOMPLX core data factory fuel our cloud insurance risk analytics offering with the ability to rapidly ingest, transform and contextualize data at scale, much faster than traditionally seen across the industry.
  • We are the leaders at rapidly ingesting, transforming, and contextualizing large, complex, and disparate data sources through our cloud-native data factory in order to help organizations better quantify, model, and predict risk.

Verisk’s AIR Worldwide Estimates Insured Losses for July Floods in Germany Could Approach EUR 5 Billion

Retrieved on: 
Wednesday, July 28, 2021
Nature, Meteorology, Articles, Verisk Analytics, AIR Worldwide, Weather satellites, Weather hazards, Hydrology, Precipitation, Global Precipitation Measurement, Flood, Boston

BOSTON, July 28, 2021 (GLOBE NEWSWIRE) -- Extreme event modeling firm AIR Worldwide estimates insured losses in Germany from July flooding could approach EUR 5 billion.

Key Points: 
  • BOSTON, July 28, 2021 (GLOBE NEWSWIRE) -- Extreme event modeling firm AIR Worldwide estimates insured losses in Germany from July flooding could approach EUR 5 billion.
  • To produce the loss estimates, AIR analyzed hourly precipitation fields over Germany derived from NASAs Global Precipitation Measurement (GPM) system during July 5 to 19.
  • AIR Worldwide (AIR) provides risk modeling solutions that make individuals, businesses, and society more resilient to extreme events.
  • AIR Worldwide, a Verisk (Nasdaq:VRSK) business, is headquartered in Boston, with additional offices in North America, Europe, and Asia.

Kevin McCarty, VP of Security, Governance, Risk and Compliance at Marriott International, Joins Kovrr Advisory Board

Retrieved on: 
Wednesday, July 21, 2021
Software, Insurance, Networks, Internet, Finance, Professional services, Technology, Security, Actuarial science, Risk, Risk analysis, Articles, Computer security, Cyber risk quantification, Risk management, Security, Catastrophe modeling, Chief risk officer, Underwriting, AIR Worldwide

Kovrr , a provider of cyber risk modeling and quantification for enterprises and (re)insurers, announced today that Kevin McCarty, VP of security, governance, risk and compliance at Marriott International, joined its Advisory Board.

Key Points: 
  • Kovrr , a provider of cyber risk modeling and quantification for enterprises and (re)insurers, announced today that Kevin McCarty, VP of security, governance, risk and compliance at Marriott International, joined its Advisory Board.
  • Kevin will primarily offer strategic and product guidance to the executive team and support growth of Kovrrs enterprise cyber risk quantification solutions.
  • Kovrr's cyber risk modeling platform delivers global enterprises and (re)insurers transparent data-driven insights into their cyber risk exposures.
  • The Kovrr platform is designed to help chief risk officers, chief information security officers, underwriters, exposure managers, risk professionals and catastrophe modelers understand, financially quantify and manage cyber risk by utilizing AI-powered risk models.

United Insurance Holdings Corp. Previews Q2-2021 Estimated Catastrophe Losses

Retrieved on: 
Friday, July 2, 2021
Other Professional Services, Professional services, Insurance, Actuarial science, Insurance, UPC Insurance, Financial services in the United States, Reinsurance, Financial services, General insurance, AIR Worldwide, Citizens Property Insurance Corporation

United Insurance Holdings Corp. (NASDAQ: UIHC) (UPC Insurance or the Company), a property and casualty insurance holding company, today announced estimated current year catastrophe losses incurred during the second quarter ending June 30, 2021, of approximately $40 million before income taxes (approximately $31 million after tax), net of expected reinsurance recoveries.

Key Points: 
  • United Insurance Holdings Corp. (NASDAQ: UIHC) (UPC Insurance or the Company), a property and casualty insurance holding company, today announced estimated current year catastrophe losses incurred during the second quarter ending June 30, 2021, of approximately $40 million before income taxes (approximately $31 million after tax), net of expected reinsurance recoveries.
  • The Companys estimated catastrophe losses includes claims from two new tropical storms and fourteen new PCS catastrophe events that occurred during the second quarter of 2021.
  • Founded in 1999, UPC Insurance is an insurance holding company that sources, writes and services personal and commercial residential property and casualty insurance policies using a group of wholly owned insurance subsidiaries and one majority owned insurance subsidiary through a variety of distribution channels.
  • From its headquarters in St. Petersburg, UPC Insurance's team of dedicated professionals manages a completely integrated insurance company, including sales, underwriting, customer service and claims.

Kovrr Updates its Cyber Risk Quantification Platform to Help (Re)insurers and Enterprises Cope with Soaring Cyber Risk

Retrieved on: 
Monday, June 28, 2021
Software, Technology, Security, Actuarial science, Articles, Risk, Academic disciplines, Catastrophe modeling, Chief risk officer, Underwriting, Computer security, AIR Worldwide, Cyber risk quantification

Kovrr , a provider of cyber risk modeling and quantification for (re)insurers and enterprises, today released updates to its cyber risk model and platform.

Key Points: 
  • Kovrr , a provider of cyber risk modeling and quantification for (re)insurers and enterprises, today released updates to its cyber risk model and platform.
  • These updates explain why we entrust Kovrr with helping us manage our accumulated cyber risk exposure, said Oscar Taboada, head of cyber at MAPFRE RE.
  • Kovrr's cyber risk modeling platform delivers global (re)insurers and enterprises transparent data-driven insights into their cyber risk exposures.
  • The Kovrr platform is designed to help chief risk officers, chief information security officers, underwriters, exposure managers, risk professionals and catastrophe modelers understand, financially quantify and manage cyber risk by utilizing AI-powered risk models.

AM Best's Briefing: With Ransomware Threatening Profitability, How Will Cyber Insurers React?

Retrieved on: 
Tuesday, June 8, 2021
Technology, Professional services, Insurance, Security, Actuarial science, Articles, Academic disciplines, Finance, Cyber insurance, Internet security, Reinsurance, Underwriting, Insurance, Analytics, AIR Worldwide

Sridhar Manyem and Fred Eslami of AM Best will join industry experts to discuss emerging trends in the cyber insurance market.

Key Points: 
  • Sridhar Manyem and Fred Eslami of AM Best will join industry experts to discuss emerging trends in the cyber insurance market.
  • Topics covered will include recent market conditions and profitability; high-profile cyber events; underwriting reactions to ransomware; reinsurance; a hardening pricing environment and aggregation risks.
  • To view a video on this report with AM Best Senior Industry Analyst Christopher Graham, visit http://www.ambest.com/v.asp?v=ambcyberreport621 .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

Insurance Industry Continues to Select Verisk’s AIR as its Modeler of Choice for Catastrophe Risk Management, Including Class of 2020

Retrieved on: 
Thursday, May 20, 2021
Actuarial science, AIR Worldwide, Disaster management, Catastrophe modeling, Insurance-Linked Securities, Risk, Reinsurance, Articles

b'Boston, May 20, 2021 (GLOBE NEWSWIRE) -- Catastrophe modeling firm AIR Worldwide announced that newly established international insurance and reinsurance companies from the \xe2\x80\x9cClass of 2020,\xe2\x80\x9d have selected AIR as their modeler of choice to help manage their catastrophe risk.

Key Points: 
  • b'Boston, May 20, 2021 (GLOBE NEWSWIRE) -- Catastrophe modeling firm AIR Worldwide announced that newly established international insurance and reinsurance companies from the \xe2\x80\x9cClass of 2020,\xe2\x80\x9d have selected AIR as their modeler of choice to help manage their catastrophe risk.
  • The so-called Class of 2020 is a group of insurance, reinsurance and specialty companies formed in 2020, including Conduit Re, Core Specialty, Inigo Ltd, Integral ILS Ltd, and Vantage Risk.
  • In 1987, AIR Worldwide founded the catastrophe modeling industry and today models the risk from natural catastrophes, supply chain disruptions, terrorism, pandemics, casualty catastrophes, and cyber incidents.
  • Insurance, reinsurance, financial, corporate, and government clients rely on AIR\xe2\x80\x99s advanced science, software, and consulting services for catastrophe risk management, insurance-linked securities, longevity modeling, site-specific engineering analyses, and agricultural risk management.

Insurers Can Now Better Manage Ever-Changing Cyber Risk with Verisk’s New Cyber Risk Navigator

Retrieved on: 
Monday, May 17, 2021
Verisk Analytics, AIR Worldwide

Cyber risk is growing and intensifying, forcing insurers to reconsider how they manage their cyber portfolios," said Prashant Pai, general manager, Verisk Cyber Solutions.

Key Points: 
  • Cyber risk is growing and intensifying, forcing insurers to reconsider how they manage their cyber portfolios," said Prashant Pai, general manager, Verisk Cyber Solutions.
  • "Cyber Risk Navigator is a state-of-the-art solution created to help insurers address this challenge and improve pricing and risk selection.
  • We designed Cyber Risk Navigator to enable insurers to confidently grow their portfolios in an ultra-competitive, dynamic market.
  • "\nCyber Risk Navigator is a part of Verisk\'s Cyber Solutions Suite , an end-to-end ecosystem that can help insurers and reinsurers more quickly deliver new cyber programs or enhance existing solutions.

AIR Worldwide Collaborates with experts at the Brookings Institution and AXIS Capital to Quantify the Impact from Climate Change on Hurricane Risk

Retrieved on: 
Tuesday, January 19, 2021
Weather hazards, Meteorology, Physical geography, Natural disasters, Nature, Verisk Analytics, AIR Worldwide, Tropical cyclone, Flood, Storm

Investing in ongoing research like todays, in partnership with AIR and Brookings scholars, is essential, said Albert Benchimol, President & CEO at AXIS.

Key Points: 
  • Investing in ongoing research like todays, in partnership with AIR and Brookings scholars, is essential, said Albert Benchimol, President & CEO at AXIS.
  • The analysis relies on the AIR Hurricane Model for the United States, which considers wind, storm surge, and precipitation-induced flooding, and AIRs database of property exposure.
  • Download Quantifying the Impact from Climate Change on U.S. Hurricane Risk here: https://airww.co/climateimpact
    AIR Worldwide (AIR) provides risk modeling solutions that make individuals, businesses, and society more resilient to extreme events.
  • AIR Worldwide, a Verisk (Nasdaq:VRSK) business, is headquartered in Boston, with additional offices in North America, Europe, and Asia.

SCOR develops a cyber risk management tool through an innovative partnership with CyberCube

Retrieved on: 
Thursday, January 14, 2021
Actuarial science, Articles, Academic disciplines, Risk, Catastrophe modeling, Supply chain operations reference, Catastrophe, Underwriting, AIR Worldwide

SCOR has leveraged its leading edge internally developed CAT Platform designed to manage natural catastrophe risk accumulations and adapted it to meet its cyber risk assessment needs.

Key Points: 
  • SCOR has leveraged its leading edge internally developed CAT Platform designed to manage natural catastrophe risk accumulations and adapted it to meet its cyber risk assessment needs.
  • By integrating CyberCubes risk model alongside other natural catastrophe models within its CAT Platform, SCOR has further expanded its catastrophe modeling capabilities.
  • This integrated Cyber platform is a major development that will enable us to further deepen and broaden our management of this key risk in the future.
  • With best-in-class data access and advanced multi-disciplinary analytics, the companys platform helps insurance companies make better decisions when underwriting cyber risk and managing cyber risk aggregation.