Substantial use of cat risk models in the insurance industry has attracted many young scientists to work for (re)insurers and brokers. Such resources in conjunction with open source platforms such as Oasis LMF have created demand for interoperability of model components towards democratization of cat models.
Stochastic natural event set is the main core of any cat risk model and its development requires in-depth scientific knowledge, expertise and tools. CATRisk® provides full probabilistic stochastic event set of various time span from 1,000 to 100,000 years with detailed event characteristics.
Our hazard footprint database provides pdf distribution of hazard intensity for each stochastic event and for a variable resolution grid (VRG). Hazard distributions are provided in discrete format, suitable for further numerical integration with other sources of uncertainties. Standard hazard maps such those used by engineering community could be directly extracted from such hazard footprint databases.
Our country-specific vulnerability library provides damage functions for combinations of Peril, Risk Types, Coverages, Construction Classes, Building Height and Structural Quality. Numerical integration of pdf distributions provided by damage functions with those from hazard intensity allows for full uncertainties treatment of such components.
Exposure data collected by insurance companies, particularly in the emerging market, usually refer to various administrative level from very aggregate such as country and cresta to detailed site-specific locations. We have developed geo-referencing spatial databases and necessary tools which in conjunction with data standard such as Open Exposure Data (OED), allow mapping of exposure data of various admin level to hazed footprint and also further spatial processing such as disaggregation and thematic exposure and loss mapping.