A Changing Model for Natural Disasters
Predictive modeling and tech has come a long way. There are new breeds of models, ensemble models, that research shows can support preparation and more effective response in real-time. Listen here to see how far their accuracy extends.
Public perception is that natural disasters are becoming more frequent and severe. Predictive technology has come a long way with regards to forecasting the potential impact of disasters. For climate-perils like hurricanes, a new breed of forecasting – ensemble modeling – can help insurers understand where damage from a hurricane event can occur and its potential severity. With these modeling techniques, there’s opportunity for better preparation and more effective response in real-time.
Rosalie Donlon, editor-in-chief of ALM’s insurance and tax publications, joins Pete Dailey, PhD., Vice President of Model Development for RMS, as they examine the success of ensemble modeling, challenges and its future in this episode of “Transforming the Future of Risk: A Data-Centric Approach,” sponsored by RMS. Click play to the full episode.
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