As part of a global reinsurance broker, Impact Forecasting has an in-depth knowledge of our clients’ requirements within the industry. We focus on the development of models for specific perils and territories where the commercial modeling companies have not yet ventured or existing models are not fully meeting our clients’ requirements. In these cases, we can partner with clients using their loss data to pursue a modeled result more reflective of their experience.
Global Model Coverage
Impact Forecasting’s models focus on major insured risk areas as well as territories and perils where commercial modeling firms have not yet ventured, or existing models are not credible. Modeling projects have included:
Catastrophe Analysis and Reporting
Throughout the year, Impact Forecasting provides real-time information on catastrophic events through Cat Alerts, Weekly and Monthly Cat Recaps and the Annual Global Climate and Catastrophe Report.
ELEMENTS is our proprietary loss calculation software for catastrophe modeling. Understanding uncertainty is an essential part of catastrophe model development and therefore its quantification forms the core of the ELEMENTS application, defined by both hazard and damage/loss. Exposure data can be analyzed at both an aggregated and individual level using primary insurance policy conditions at coverage, location and policy levels – in addition to reinsurance conditions. The application’s robustness and flexibility also allows implementation of customized solutions.
About Impact forecasting
Impact Forecasting LLC is a catastrophe model development center of excellence within Aon Benfield whose seismologists, meteorologists, hydrologists, engineers, mathematicians, GIS experts, finance, risk management and insurance professionals analyze the financial implications of natural and man-made catastrophes around the world. Impact Forecasting’s experts develop software tools and models that help clients understand underlying risks from hurricanes, tornadoes, earthquakes, floods, wildfires and terrorist attacks on property, casualty and crop insurers and reinsurers. Impact Forecasting is the only catastrophe model development firm integrated into a reinsurance intermediary.