National Catastrophe Dashboard
The MIS-Intel Nat Cat dashboard is available to the reinsurance industry across a number of areas and specialties, including: claims and loss adjusting; exposure management and modeling; business interruption; as well as reinsurance and specialty adjusting for large and complex policies.
The Nat Cat dashboard empowers teams to make important reserving and coverage decisions more quickly and cost effectively, helps to reduce reliance on loss adjusting, enables proactive service to policyholders, and provides early insight into exposure at portfolio level.
The Nat Cat intelligence is derived from multiple sources, providing a holistic and unbiased view of the situation, including:
- Satellite images
- Internet of Things data and CCTV
- Drone images
- Radar images and data which can penetrate cloud and capture images at night
- Military grade imagery analysts and damage assessment experts
- News and social media as well as
- Official (government) open source data
Traditionally, insurance organizations rely on modeled data which provide inaccurate results, and people on the ground which delay the gathering of information, increases costs and adds layers of complexity. The Nat Cat Dashboard solves these problems by measuring the actual impact of events as they unfold.
- Accurate information (measured, not modeled) provides the real-world impact of an event, allowing teams to more efficiently process claims and manage exposure reserves
- Property and zip-code level damage assessments to support multiple teams
- Timeline view of the event to understand complex or fraudulent claims
- Customer service differentiation – respond to claims before policyholders know they have one
Improve Claims Operations with property level damage assessments to more efficiently process claims and improve customer experience.
Optimize Exposure Operations by responding to events with zip code level damage assessments to improve the speed and accuracy of post catastrophe reserving.
Improve Reinsurance Claims Operations for complex Nat Cat events by understanding the unfolding timeline to better understand claims impacts at the portfolio level and reinsurance payments.
“From all the vendors providing data, this is the best we have come across.”
– Modeling Manager, Lloyd’s Syndicate
McKenzie Intelligence Services’ award winning MIS-Intel Nat Cat Dashboard is used throughout the Lloyd’s Insurance Market as the foundation to improving their claims processes. MIS tasks and analyzes data from space, air, IoT and ground based sensors to provide the most timely, robust and holistic view of a Nat Cat event. MIS combines machine learning algorithms with in-house, military trained damage assessment experts to provide the hard facts about the situation on the ground before, during and after the event.
- Oxbow Partners 2019 InsurTech Impact 25
- British Claims Awards, Outstanding Achievement of the Year
- Finalist, The Major Loss Response Award – The Insurance Insider US Honors