New transparency with Data-Based Storm Models

The analysis of potential loss scenarios of natural disasters is crucial for the risk management of property and casualty insurers. With STORM CHASER, we have developed a transparent and innovative storm model.

For the first time, storm event sets are generated from historical storm data with the help of Polynomial Chaos Expansion - an innovation that is a clear distinction from common storm models. While the latter are based on extensive meteorological presuppositions, STORM CHASER's algorithms are transparent and comprehensible.

Besides offering a fast loss estimation of current storms, the software can predict the damage of storm events according to defined return periods. What is more, STORM CHASER is a helpful instrument for the estimation of stress scenarios in the context of reinsurance evaluation and ORSA.

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