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Swiss Re CatNet Global Natural Hazard Risk Assessment Platform

Solution Overview

Swiss Re's CatNet platform serves as a global location intelligence tool that enables organizations to assess and visualize natural hazard exposure for any location worldwide.[2] This proprietary risk assessment system is specifically designed to provide insurers with comprehensive overviews and assessments of natural hazard exposures, including flood, earthquake, tsunami, and wind and storm surge.[4] The platform allows users to analyze exposure to natural catastrophe risk by combining hazard, loss, exposure and clients' insurance information with selected background maps and satellite imagery, enabling risk assessment from individual locations to entire portfolios.[4][3]

Technical Components

The CatNet platform integrates multiple sophisticated data layers and modeling capabilities to deliver comprehensive risk assessments. Swiss Re announced the addition of Fathom's advanced Global, UK, and Japan Flood Maps to the CatNet risk assessment platform in July 2024.[1] This integration followed the earlier incorporation of Fathom's US Flood Map, representing a significant development in managing and understanding flood risks.[1] By integrating Fathom's flood maps, Swiss Re's clients gained access to high-resolution, accurate datasets covering the entire planet.[1] The incorporation of Fathom's flood maps enables sophisticated climate-driven present-day flood risk assessment, instead of relying on historical data alone.[3] Fathom's independently validated, high-resolution flood maps are now available across multiple regions within the platform, including the Global Flood Map, US Flood Map, UK Flood Map and Japan Flood Map.[3] The platform enables insurers to view multiple flood-risk models on a single platform, facilitating more thorough risk assessments.[1] This integration allows users to leverage multiple flood risk models simultaneously, facilitating more comprehensive risk assessments.[3]

Implementation Details

The integration of Fathom's flood maps into CatNet marked a significant milestone in enhancing the platform's existing flood modeling resources to supply clients with the highest quality dynamic flood risk assessments.[3] Andrew Smith, chief operating officer at Fathom, highlighted that cutting-edge models produced together with academia are being made accessible to insurers within the CatNet platform.[1] The natural catastrophes data from CatNet can be integrated into insurer's underwriting platforms, allowing automated and predictive underwriting.[4] The data can also be used in pricing calculations to standardize pricing in non-modelled regions.[4]

Benefits and Impacts

The platform delivers substantial operational benefits for insurance organizations conducting natural catastrophe risk analysis. By combining hazard, loss, exposure and clients' insurance information with selected background maps and satellite imagery, CatNet allows insurers to assess risk from individual locations to entire portfolios.[4] The integration enables users to leverage multiple flood risk models simultaneously on a single platform, facilitating more comprehensive risk assessments.[3] The natural catastrophes data can be integrated into insurer's underwriting platforms, allowing automated and predictive underwriting, and can also be used in pricing calculations to standardize pricing in non-modelled regions.[4]

Climate Adaptation Relevance

The platform addresses multiple climate hazards through its comprehensive natural hazard assessment capabilities. Swiss Re offers this range of proprietary geo risk tools specifically designed to provide insurers with overviews and assessments of natural hazard exposures worldwide, including flood, earthquake, tsunami, and wind and storm surge.[4] The incorporation of Fathom's flood maps enables sophisticated climate-driven present-day flood risk assessment, instead of relying on historical data alone.[3]

Business Analysis

The CatNet platform serves the insurance and reinsurance sector by providing essential risk assessment capabilities for underwriting and pricing decisions. Organizations use this proprietary risk assessment tool to analyze their exposure to natural catastrophe risk.[3] The natural catastrophes data can be integrated into insurer's underwriting platforms, allowing automated and predictive underwriting.[4] The platform supports standardized pricing in non-modelled regions through its comprehensive data integration capabilities.[4] The integration of Fathom's independently validated, high-resolution flood maps marked a significant milestone in enhancing the platform's existing flood modeling resources to supply clients with the highest quality dynamic flood risk assessments.[3]

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