There are exciting companies in the P&C space developing the aerial imagery analytics capabilities needed to make the preventive coverage dream a reality. (Photo: trekkerimages/stock.adobe.com)
Any forward-thinking insurer should have climate risk at the forefront of their mind as they enter 2022. Unfortunately, if 2021 was anything to go by, the threat posed by unpredictable and suddenly triggered weather events will only increase: Annual U.S. severe weather insured losses for 2021 have already surpassed $20 billion so far. And as floods, hurricanes and wildfires wreak havoc on infrastructure, systems are becoming overwhelmed, and the U.S. is struggling to cope.
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