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Into the cloud – and beyond

Modelling the type of roof is important: slate and tile roofs suffered badly in the 1999 Sydney hailstorm

Catastrophe modeller Risk Frontiers has come a long way in the past 20 years, but its biggest advances still lie ahead By Shelley Dempsey

THE SLOW AND COMPLEX BUSINESS OF catastrophe modelling is about to get faster and easier thanks to new technologies such as cloud computing and aerial drones, according to Risk Frontiers. The Sydney group, the world’s fourth-largest catastrophe modeller, mainly provides data on natural perils in Australia, New Zealand and Japan. Now it plans to offer its modelling databases on cloud platforms, where a much broader range of clients can see them. And it is harnessing new technology to speed up data and image processing. Managing Director John McAneney says the

advances will help insurers better understand their exposures as they move towards street-level pricing. “Identifying which homes have slate roofs in Sydney, for example, is important for modelling hail losses,” he tells Insurance News. New visualisation techniques will also help with rapid risk assessment after disasters. “Risk Frontiers likes to send in a reconnaissance team immediately after big events and before things get too sanitised. “Having access to some of these data capture and visualisation tools will be really helpful.”

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DEC/JAN 2014/15 - Insurance News (the magazine)  

The December/January edition of the insurance industry’s most-read print publication, Insurance News (the magazine), will be delivered to su...

DEC/JAN 2014/15 - Insurance News (the magazine)  

The December/January edition of the insurance industry’s most-read print publication, Insurance News (the magazine), will be delivered to su...