KatRisk launches new SCS model amid rising losses

KatRisk, a global catastrophe modelling company, has launched a new Severe Convective Storm (SCS) model to tackle the increasing risks associated with these storms.

With SCS events causing $70 billion in insured losses globally in 2023, KatRisk aims to enhance the understanding and management of these risks.

The SCS model improves risk selection, refines pricing strategies using detailed hazard data, increases visibility into severe risk exposure, and provides data-driven strategies for sustainable growth.

According to KatRisk, the model was developed with a focus on using superior data to support smarter decision-making and boost client profitability.

Key features of the new model include realistic peril depiction with industry-leading resolution, rapid loss calculations with high accuracy, seamless accounting for climate variability, global peril and region correlations, and easy-to-implement vulnerability customisation.

In a recent LinkedIn post, KatRisk noted, “Having set the industry standard with our flood risk models, our team assures clients of the same unparalleled reliability with our new SCS model.”

This website states: The content on this site is sourced from the internet. If there is any infringement, please contact us and we will handle it promptly.