Insurance

Guy Carpenter launches revamped catastrophe analytics platform

Sep 8, 2023 1 year ago

Next gen platform offers new modules

By Kenneth Araullo

Sep 08, 2023 Share

Guy Carpenter has unveiled the next generation of its catastrophe analytics platform, GC AdvantagePoint.

This updated platform incorporates technology aimed at enhancing the performance and efficiency of underwriting and catastrophe management processes for its clients. The platform includes several key new modules:

Event Impact – this module provides users with prompt notifications of events that may impact their portfolio. It includes:

Enhanced catastrophe response capabilities, enabling companies to streamline resource planning by assessing pre-event impacts and managing post-event claims effectively
Real-time email alerts
Customizable damage functions
A suite of geospatial analysis tools
Access to a comprehensive historical event library

Underwriter+ – this module equips users with critical information to support profitable underwriting. It includes:

New capabilities designed to enhance risk selection and underwriting profitability through comprehensive analytics and actionable risk insights at the location level.
Catastrophe modeled loss information from multiple providers.
Comprehensive accumulation analysis tools.
Fully customizable data-entry features.
A suite of application programming interface (API) calls.

“In a challenging and rapidly evolving risk landscape, this latest enhancement of GC AdvantagePoint will be a critical tool for companies seeking to drive profitable risk selection and manage catastrophe exposure.

This dynamic tool brings new technology, deeper insights and greater efficiency to carriers seeking to modernize their approach to managing catastrophe risk,” said Dan Becker (pictured), Guy Carpenter Global Strategic Advisory CEO.

In a recent report, Guy Carpenter highlighted a continued trend with the mid-year renewals in the reinsurance industry demonstrating improved timing and agreement on terms and conditions.

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