Enhancing Hurricane Preparedness with our Landfall Probabilities🌀 Proud to share our latest innovation: Augmenting the NHC forecasts to provide enhanced landfall probability forecasts days before a hurricane strikes, see the post from Thomas Loridan, Reask's Chief Science Officer. Why is this pivotal for the insurance industry and governments? ➡ Resource Allocation: Efficiently deploy claims adjusters and resources to areas most likely to be impacted. ➡ Proactive Customer Communication: Empower policyholders with timely advisories and damage mitigation steps. ➡ Parametric Insurance Applications: Design covers tailored for specific scenarios, such as evacuation procedures, leveraging these improved forecasts. ➡ Optimized Portfolio Management: Understand potential exposure with greater precision. ➡ Business Continuity: Ensure uninterrupted operations by predicting potential impacts on facilities. ➡ Claims Center Setup: Strategically position temporary claims centers for rapid post-event action. ➡ ILS: Multiple Benefits: Liquidity Management, Secondary Market Trading, Informed Decision Making, Revaluation etc. Harnessing our enhanced forecasts, re-/insurers, ILS firms and governments can make more informed, timely decisions, benefiting both their operations and their clients / citizens. Stay ahead of the storm with us. 🌪
Did you know the Reask team is now calculating #hurricane surface wind probabilities before landfall? 🌀We simulate 1000 versions of each event, perturbing the NHC forecasts using our #machinelearning track algorithms. ➡ By deploying our high resolution wind model we can then compute expectations for surface gust winds days before impact. The animation below shows a sneak peak of the outcome for #Harold, #Hilary and #Franklin - please get in touch with the team for more info. #AI #hurricaneseason2023 #climaterisk #climatetech
