Efficient flood risk analytics can lead to increased profitability
Flood risk is a unique peril to underwrite because it behaves so differently than other perils, including other natural catastrophe perils. There are three distinct types of flood risk, and everywhere has at least a little risk of flooding (not just beside rivers and the ocean). These characteristics demand flood underwriting software that can:
Effective and efficient flood risk assessment analytics lead to increased profitability by ensuring greater efficiency and a portfolio full of risks that are priced appropriately based on the risk. Analytics that are tuned to match a specific view of risk ensure smoother accumulation and reinsurance across the company.