The application will enable the companies.
Identify the most probable Tropical Cyclone that will hit the property and find out its Return Period and compute Maximum Probable Estimate (MPL).
State the probability of a cyclone hitting the property exceeding the most probable cyclone and also compute its Maximum Probable Loss (MPL) estimate.
Tropical Cyclone is a catastrophic peril and there will be damages to more than one property insured in one Tropical Cyclone. The software application will add up MPLs of all the properties to arrive at accumulated MPL of one Tropical Cyclone.
Our Platform Capabilities
Tropical cyclonic wind hazard is often quantified by the statistical distribution of storm intensity and frequency and is delineated in the form of a wind speed map of the return period.
The frequency of wind speeds is analyzed with methods like the extreme value theory (EVT), which is based on historical ground meteorological observations.
Storm surge is an abnormal rise of water generated by a storm, over and above the predicted astronomical tides.
Storm surge is produced by water being pushed toward the shore by the force of the winds moving cyclonically around the storm. The impact on surge of the low pressure associated with intense storms is minimal in comparison to the water being forced toward the shore by the wind.
Flood insurance covers direct physical losses from floods and losses resulting from flood related erosion caused by waves or currents of water exceeding anticipated cyclical levels and accompanied by a severe storm, flash flood, abnormal tide surge or a similar situation that results in flooding.
How the Software Helps to Insurer
Identify what areas are at the highest risk of Tropical Cyclone.
Mapping how high wind Speed , Storm Surge and Flood damage the Property.
Get Historical Data and Statistical analysis giving probability different intensity of cyclones in next 10 years.
Auto Generated Draft Report.