2023 Webinar - Location, Location,
Location: Importance of Geocoding Accuracy in Pricing Natural Catastrophes - May 30
We will demonstrate the importance of accurate geocoding in classifying catastrophic risk, including the particularly sensitive perils of wildfire and flood. This will include exploring how geocoding works, why not all geocoding results are “created equal,” and how to address limitations with geocoding. We will also discuss why wildfire and flood are such localized perils, with risk varying greatly between relatively close locations. Finally, we will consider other implications of understanding an exposure’s accurate location, such as underwriting and managing concentration.
Learning Objectives:
- Understand the geocoding process, how to interpret the results, and important limitations
- Understand drivers of flood and wildfire risk, particularly small-scale, local factors
- Understand the importance to property insurers of knowing accurate location information for their insured risks
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