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How insurers and reinsurers track live hurricanes in real-time

RiskInsight, a new modeling platform by KCC, enables reinsurers to track their claims and losses from live hurricanes in real time.

By Karen Clark | Updated on October 24, 2017

As soon as a hurricane threatens to make landfall, reinsurers want to know what their losses are going to be. Insurers need to start planning their claims adjusting activities, and reinsurers want to know how much they will likely pay out to their clients in reinsurance recoveries. 

One would think the catastrophe models are the logical places to go for this information. But the traditional models have not provided much guidance to companies as events are unfolding. Even after an event, the traditional model vendors provide wide ranges of loss estimates that are not very useful to decision makers. 

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