Our latest News, PR and other interesting tidbits

HazardHub FloodGradeTM Identifies Hidden Flood Risk

Flood risk assessment taken to an incredible level of quality

Know the risk of flood for any address in continental United States

According to Swiss RE, the issue of underinsurance - where the amount of insurance is does not cover the potential for loss - is a $221 billion problem. 70% of the issue ($153 billion) is from underinsurance for natural catastrophe risks, mainly earthquake, flood and windstorm exposures. According to FEMA data, more than 25% of flood claims occur in areas that are outside of FEMA-mapped flood zones.

At HazardHub, we recently launched FloodGradeTM - a flood model that models topographical and water data to show flood risk for ALL places in the continental United States. Now consumers, insurers and reinsurers can quickly and accurately assess the risk of flood for their entire book of business. According to client actuarial studies, FloodGradeTM successfully identified more than 20% of flood claims that were otherwise NOT identified as a flood risk.

According to Brady Foust, Chief Scientist for HazardHub, “Flood risk outside of FEMA zones is vastly under-reported. At HazardHub, we’ve approached this problem by combining a number of data sources to provide risk assessments for every property in the continental US. While no system can identify ALL flood risk, we’ve seen enormous lift in identifying at-risk properties that are simply missed by existing flood models.”

What’s more is that FloodGradeTM is delivered via API, allowing insurance carriers to not only use FloodGradeTM in underwriting applications, but also in consumer-facing applications. Foust adds “One of the key reasons for loss from natural catastrophes is the fact that people simply don’t know about their risks. Our API gives carriers and agents the data to have meaningful conversations with their customers about mitigating any risks that might be present around their homes.”

To learn more about FloodGradeTM and other natural catastrophe data, contact HazardHub, via email at support@hazardhub.com or on our web at www.hazardhub.com

HazardHub Announces LightningHub - the First-Ever National Lightning Strike Probability Database for the United States

Know the risk of a lightning strike for any address in continental United States

HazardHub, the nation’s first third-generation supplier of geospatial risk data, have announced the release of their proprietary “Lightning Hub” geo-spatial data set. Now, users can see the probability of lightning strikes for any address in the continental United States.

SAN DIEGO, CA (PRWEB) FEBRUARY 07, 2017

HazardHub Democratizes Hazard Risk Data with New API

HazardHub, the nation’s first third-generation supplier of geospatial risk data, announces the release of their geospatial API. For the first time, geographic risk data is available via a real-time API for inclusion to client’s internal systems.

Bob Frady, CEO of HazardHub says, “For too long, hazard risk data has been trapped inside of GIS systems. Clients have been forced to import and integrate shape files, then create internal GIS systems to deliver real-time versions of that same data. While shape files are great, we decided to eliminate this artificial barrier to geospatial hazard data by delivering a robust, REST-based API that can carry all of our hazard data to exactly the spot where it’s needed.”

SAN DIEGO, CA (PRWEB) JANUARY 17, 2017

SpatialKey® and HazardHub Collaborate to Give Insurers Easier Access to Hazard Data

SpatialKey, a geospatial insurance analytics provider, and HazardHub, a risk data provider, have collaborated to offer underwriters and exposure managers the ability to easily access data from models of past events derived from rigorous analysis. Insurers can visualize this data within SpatialKey to better understand the probability of future property damage and write profitable business.

DENVER, CO (PRWEB) NOVEMBER 01, 2016