BERKELEY, Calif. , Sept. 19, 2024 /PRNewswire/ -- KatRisk , a premier provider of dynamic catastrophe risk software , has launched its groundbreaking Severe Convective Storm (SCS) model .
This unique-to-the-industry tool is designed to transform how the insurance industry manages volatile weather risks, such as hail, tornadoes, and straight-line wind. With severe convective storms causing approximately $70 billion in insured losses globally in 2023, the need for advanced risk management tools has never been more critical. KatRisk's SCS model rises to this challenge by offering unparalleled precision and efficiency developed to meet the diverse needs of insurers, government agencies, and financial institutions.
What Sets KatRisk's SCS Model Apart KatRisk's SCS model boasts an array of features and benefits designed to keep clients ahead of severe weather risks, some of which include: Transparency and Customization Well-documented, climate science-backed methodologies that provide a strong view on risk, and the ability to customize High-Resolution Data Best-in-class resolution offers realistic representations of severe weather events. With a 1-km resolution for hail and straight-line wind and 100-m resolution for tornado, the model captures nuanced intensity gradients critical for accurate risk assessment. Speed and Efficiency KatRisk's SCS model stands out for its speed, facilitating rapid and comprehensive risk analysis.
Climate Variability Integration Our model captures the .