EigenRisk has partnered with Swiss Re to bring CatNet natural hazard data into its EigenPrism catastrophe risk platform. The agreement adds Swiss Re to EigenPrism’s network of more than 40 third-party data and model providers. Users will access CatNet hazard information directly within the platform instead of moving between separate systems.
CatNet is Swiss Re’s global natural hazard analytics platform. It provides insurers with location-based assessments of catastrophe exposure across several major perils, including flood, earthquake, tsunami, wind and storm surge.
Swiss Re has expanded the platform over time with additional hazard layers. These include wildfire data for areas exposed to fire risk and an updated hail layer developed as severe convective storm losses continue to rise.
For EigenPrism users, the addition gives insurers, MGAs, brokers and risk managers another source of hazard data for portfolio and property analysis.
Every data source we add to the EigenPrism platform gives insurers, brokers and risk executives another way to identify, understand, assess and respond to the catastrophe exposures most relevant to their risk portfolios or properties.
Deepak Badoni, co-founder and president of EigenRisk
Badoni said CatNet is already widely used across the insurance market and gives EigenPrism clients access to Swiss Re’s hazard data inside an existing catastrophe analytics workflow.
The partnership also expands the amount of external catastrophe data available through EigenPrism. The platform combines hazard information, event projections, simulations and analytics from public and private providers.
Risk intelligence creates the most value when it is operationalized and embedded directly into the decisions insurers make every day.
Ali Shahkarami, head of Risk Data Solutions, Insurance and Public Sector at Swiss Re
Shahkarami said making CatNet available through EigenPrism gives insurers, MGAs and brokers access to Swiss Re’s natural hazard data within software they already use for exposure analysis.
EigenRisk provides cloud-based catastrophe risk software for insurers, reinsurers, MGAs, brokers and risk managers. EigenPrism includes data management, geospatial analysis, reporting, catastrophe modelling, alerts and APIs.
With CatNet added to the platform, users gain another global hazard dataset for assessing property locations and insurance portfolios across multiple catastrophe perils.
