Business Use Cases for Geospatial Analysis

Manage accumulations by user-defined zones (on an exposed ground-up, gross, pre-CAT XOL, and Post-CAT net basis): These zones typically comprise one or more individually defined geographic or political boundaries (for example, a combination of counties in the U.S., kus or sompos in Japan, or CRESTA zones around the world). This provides an easy way for you to monitor accumulations of risk in key geographic areas to ensure that your portfolios are not overly concentrated in at-risk areas. You can also import custom geographic boundaries, enabling you to specify custom zones of risk anywhere around the world. For example, using custom boundaries enables you to analyze global property exposure by country and state.

Find the highest accumulation of the total number of insured employees, or break out the total number of day shift, evening shift, and night shift employees, within rings of a certain radius: This feature will help you to answer questions in the "Terrorism" section of the A.M. Best Supplemental Rating Questionnaire (SRQ). You can run a single Geospatial ring analysis for combined Workers' Compensation and Property exposure data without having to convert Workers' Compensation exposure data to property data.

Meet regulatory requirements for things such as Lloyd's Realistic Disaster Scenarios (RDS) accumulation reports: Lloyd's and BMA (Bermuda Monetary Authority) ask constituents to report accumulations for a set number of countries (for example, Chile, Thailand, etc.). Footprints for the global set of Lloyds RDS events are available within Touchstone. In the same way, footprints of the California Department of Insurance zones help you file CADOI regulatory reports. The Dynamic Ring Analysis helps identify areas of peak concentration as required by regulatory agencies.

Real-time view of risk with impending/ongoing events: They can bring AIR-provided ALERT™ event footprints or third-party GIS layers into Geospatial Analysis and accumulate using those layers to understand their risks on current events.

Manage terrorism risk: You can evaluate accumulations within a series of concentric rings. This is useful when conducting a risk analysis of a high-value terrorist target. By specifying gradually decreasing damage ratios for each concentric ring, you can assess potential losses to nearby properties resulting from a catastrophic terrorism event. You can do this globally in any country. You can also import your own list of key terror targets and manage risk around them. You can use Dynamic Ring Analysis to find areas of peak concentration that are based on locations of risks in your portfolio to best identify targets that can be most vulnerable to a single attack and help you manage your business better. You can export ring analysis results to terrorism event sets, and can run a single Geospatial ring analysis for combined Workers' Compensation and Property exposure data without having to convert Workers' Compensation exposure data to property data. AIR also provides a new Geospatial analysis, a Grid Ring analysis; this analysis is better for large, dense portfolios when you want to get a quick overview of the terrorism risk. With this new analysis, you can specify latitude and longitude coordinates for bounding boxes for the grid rings.

Analyze expected losses for property exposures within event footprints: AIR generates event footprints from several events (historical, real-time, and modeled) that you can use to run loss scenarios or real impacts. For example, you can analyze expected losses for exposures within AIR historical events, such as: Tropical Cyclone Ike 2008 or Tohoku Tsunami Inundation; within historical event footprints, such as the Moore Oklahoma 2013 tornadoes or Hurricane Sandy; or within RDS World Scenarios, such as the European Windstorm 2012 event wind speed bands. In the same way, you can bring in AIR-provided footprints in the aftermath of a recent event, or bring in any other third-party data sets, as custom events, and then accumulate for those events.

Combine modeled losses with accumulations: You can run analyses of property exposures against modeled average annual loss results, with exposed limits and other financial conditions, to understand what geographies and construction characteristics are disproportionately driving risk relative to these.

Explore the relationship between property exposure data characteristics and event intensities or hazard characteristics: Enabling dynamic results allows you to leverage powerful GIS (geographic information system) and spatial query functionality that provide you with a lot of flexibility when you 'slice-and-dice' exposure data. You can view accumulations of risk within a specific construction type with specific hazard characteristics. Using the pivot table style functions available in Touchstone Geospatial Analysis, you can easily visualize where the exposures are located for various combinations of conditions of building structure and hazard. For example, you can find out how much light metal construction is located less than one mile from the coast or how much masonry construction is located on soft soil.

Manage your risk in non-modeled regions: You can import your own event and boundary layers and assign custom damage ratios to different zones within these layers to simulate the damage a non-modeled event could cause. For example, you could import Thai flood footprints and determine how much of your exposure lies within the footprint.

Perform what-if analyses for historical events: Using your own damage ratios for various hazard intensities, you can create your own view of the risk and build what-if scenarios with various historical events.