PsiClone
Live Event Tracker
Real-time catastrophe exposure monitoring for underwriting and response teams during live tropical cyclone events
Cyclones are global convective weather phenomena, associated with intense winds, extreme precipitation, and storm surge in coastal regions. They are frequently devastating to society, both from economic and loss-of-life perspectives.
At the same time, studies show that the deadliest and costliest natural disasters seen in the past 20 years were often well forecasted. The state of scientific knowledge empowers us to anticipate a disaster and take action before it strikes. Such anticipatory action can bring significant benefits across multiple sectors: humanitarian (fewer lives lost), infrastructure (lower reconstruction costs post-event) and finance (effective risk transfer in insurance and reinsurance industries).
While there are strong benefits to anticipatory action, there are also objective barriers to deploying it at scale, most significantly:
Cyclones are global convective weather phenomena, associated with intense winds, extreme precipitation, and storm surge in coastal regions. They are frequently devastating to society, both from economic and loss-of-life perspectives.
At the same time, studies show that the deadliest and costliest natural disasters seen in the past 20 years were often well forecasted. The state of scientific knowledge empowers us to anticipate a disaster and take action before it strikes. Such anticipatory action can bring significant benefits across multiple sectors: humanitarian (fewer lives lost), infrastructure (lower reconstruction costs post-event) and finance (effective risk transfer in insurance and reinsurance industries).
While there are strong benefits to anticipatory action, there are also objective barriers to deploying it at scale, most significantly:
- Uncertainty as to when and under what conditions pre-emptive action should be triggered
- Inaccessible, inconsistent or incoherent data at a global scale
PsiClone helps to mobilise response operations earlier, both within disaster risk management settings and for claims and underwriting
The tool provides one intuitive platform that can help users to identify hotspot areas and prioritise high risk accounts or populations, quicker and faster than existing tools and processes. At its core, the platform combines live forecast data, portfolio analytics and ensemble uncertainty modelling to allow users to:
- Monitor portfolio exposure (including TIV, PD and BI) against live tropical cyclone ensemble forecasts across the Atlantic basin and beyond
- Identify high-risk accounts and regions up to 15 days before potential landfall
- Define exposure thresholds and automate reporting of key portfolio risk metrics
- Analyse forecast uncertainty, establish operational response triggers and support claims mobilisation during active events
- Integrate with event, loss and impact data from catastrophe modelling and data vendors
- Support underwriting, claims and reinsurance teams with portfolio monitoring and client engagement
The platform is split into five different sections, including:
1. Exposure Manager: Define what is at risk and where
2. Data Explorer: Understand hazard behaviour and uncertainty over time using historical forecast data
3. Action Structure: Helps response teams to define what actions can be taken, their cost, timing, and operational limits
4. Decision Framework: Maximum Information's framework for helping users convert uncertainty + exposure + actions into objective decisions and triggers
5. Live Events Manager: Provides a live view and assessment of the situation as it evolves with forecasts updated every 12 hours (>6 days) and 6 hours (<6 days)
Interested in learning more? Book a demo today by emailing info@maxinfo.io