Data and Analytics Support Innovations in Flood Risk Management – GC@MC Commentary

Elizabeth Cleary, Managing Director

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• Increased computing power is fueling innovative solutions for flood underwriting
• Insurers are using technology to communicate a homeowner’s flood risk with mobile apps
• Guy Carpenter works extensively with most commercial vendor flood models

Flood risk and its impact on communities are global concerns. Advances in data quality coupled with expanding model development and computational power leads to increasingly accurate risk evaluation for (re)insurer portfolio analyses and underwriter risk analyses – with a concomitant increase in policyholder risk awareness. Guy Carpenter and sister company Marsh are harnessing new tools to facilitate clients’ risk…