Introducing Risk

Jun 30, 2020 / by Phil LeGrone

It’s common to hear the phrase, ‘the world is getting more complex every day’…so much that it’s become cliché. That is, unless it’s your job to try to understand, quantify, and insure the perils that come from that complexity. We know you’re looking for actionable insights to protect your business. The problem is typically not the lack of information about these perils but rather, the information overload that makes it a challenge to to find timely, relevant, and reliable insights that you can use to make informed decisions. You rely on AAIS for advisory expertise on the products your customers use, and now we’re inviting you to try our new Risk Awareness Service, our latest tool to help our Members maintain your competitive advantage.  

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Introducing the AAIS Risk Awareness Service

AAIS developed its new Risk Awareness Service provide you with exactly the actionable insights you’ve been looking for. This new service will become your one-stop shop for carefully curated information about various catastrophic perils your customers face. Initially, we’ve focused our efforts on hurricanes to respond to this year’s predicted active season. We’ve included a wide range of information that should be useful to those who have considerable experience covering these perils and to those just starting out in the industry.

  • Background and historical information on the peril
  • Causes and other factors that increase the risk of losses
  • Aspects that may impact claim frequency or severity
  • Insurance specific insights about established and emerging issues
  • A live event tracker of relevant events happening right now

For each peril there will be two parts: A user-friendly interactive tool to help you learn about the peril and the industry-specific challenges you need to know, and a separate interactive Live Event Tracker map that allows you to zoom into the areas most relevant to you, add and remove additional information and insights to the map, and customize it so you can proactively address risk relevant to your business.

We’re looking for your feedback and input. As we expand the Risk Awareness Service, what other perils would help you make informed decisions? We’re also looking for your input on the information included, the level of technical detail, the tools we’ve developed to help you understand this information, and any other way we can make your job easier. These are your tools andwe want to make sure we’re meeting your needs.

Access AAIS’s Risk Awareness Service here, and share your feedback here (link to WHO?)

Tags: Personal Lines, Insurance

Phil LeGrone

Written by Phil LeGrone

VP of Data & Actuarial Solutions - Phil has more than 25 years of experience in various risk management activities from both the insurer and risk modeling perspective. His career began in the Loss Control Division at Chubb surveying commercial and industrial risks primarily from a fire protection perspective. Phil has worked for primary insurers and specialty insurance carriers. His expertise includes data, data analytics, catastrophe modeling, software product management, and geospatial data and analysis.

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