About the event
Floods are one of the hardest catastrophic perils to model. Not all flood models are built the same way. What do you need to know when using flood model results to select, price and manage flood risk?
The complexity of how floods occur, the dependency on a wide range of conditions and the difficulty in getting detailed data means that the methods used to build vary between models.
These different approaches can significantly impact the results when considering geography, frequency and severity of floods. Understanding how models are built, and the characteristics of the models used to generate results, both from your in-house modelling teams or third parties such as brokers, will help you make better underwriting decisions.
You joined in this educational webinar, as Matthew Grant spoke to flood modellers from Fathom to explore the complexities of flood catastrophe models. You discovered key model-building techniques, essential data inputs, and heard from both the developer’s and end-user’s perspectives.
In this webinar we discussed:
- What are the critical components of flood modelling?
- What key considerations and uncertainties must be addressed when building a model, and how do they impact the results?
- Why is it crucial for end-users to understand these impacts?
- How can customers choose the model that best suits their needs?
Panel included:
- Stefan Wunderlich, Chief Product Officer – Risk Data & Services, Swiss Re Corporate Solutions
- Caroline Fox, Senior Catastrophe Management Professional, Global Analytics and Advisory, Guy Carpenter
- Tom Philp, Chief Executive Officer, Maximum Information
- Dr Oliver Wing, Chief Scientific Officer, Fathom
In collaboration with:
Speakers
Stefan Wunderlich
Chief Product Officer – Risk Data & Services
Caroline Fox
Senior Catastrophe Management Professional, Global Analytics and Advisory
Dr Oliver Wing
Chief Scientific Officer
Tom Philp
Chief Executive Officer
Continuing Professional Development
This InsTech Webinar is accredited by the Chartered Insurance Institute (CII). By watching, you can claim up to 0.5 hours towards your CPD scheme.
If your organisation is a Corporate Member of InsTech and you would like to start receiving a quarterly summary of the CPD hours you have earned through InsTech, then please let us know by emailing [email protected].
By the end of this Webinar, you should be able to meet the following Learning Objectives:
- Explain the complexities and challenges involved in flood catastrophe modelling, including the impact of various geographic, frequency and severity factors on model outcomes
- Summarise some of the different methodologies used to build global flood models and how these approaches can influence the results
- Identify how different models might be useful for different use cases
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CII CPD accreditation demonstrates the quality of the learning of this InsTech event and confirms it meets CII CPD scheme requirements.
