Over the past 20 years, frequency and severity of costly catastrophic events have increased with major consequences for businesses and the communities in which they operate.
The software companies that provide the modeling used insurance and risk management industry uses have rapidly improved their models. The algorithms used have become significantly more complex as more data has become available. Meanwhile, computing power has increased to enable analyses that would have previously taken weeks or not been possible to be done quickly.
To help your organization to better manage its exposures, Marsh has a global team of experts who coordinate efforts to provide the advice and assistance you need to identify, quantify, and manage your risks.
Marsh Global Analytics’ (MGA) CAT Modeling team works closely with your Property Practice broker to assemble the insurance coverage information and with Marsh Advisory to identify and collect the location information. We then validate the data quality before using industry-leading software programs to model your portfolio and deliver a concise report.
Because Marsh has in-house access to two of the leading software models that use state-of-the-art computer modeling techniques with proven methodologies to analyze property risks for multiple perils, we can put you in a uniquely prepared position when going to the market for placement. We also provide:
- A preliminary examination of your property schedule to create a risk map and determine locations or perils to be modeled.
- A review of the completeness of your data quality and a stratification of values.
- Engineering review of the construction, occupancy, year built, and stories data.
- A report output with post-analysis commentary that clearly lists top locations and drivers of loss.