25 February 2014 Insurance

Guy Carp’s cat service to estimate UK flood extent

Guy Carpenter’s new satellite-based catastrophe evaluation service will allow insurers to map the extent of flooding in the UK.

The service, GC CAT-VIEW, will identify which policies have been affected and provide associated potential loss estimates by analysing Earth Observation (EO) Satellite and radar imagery, plus footage from unmanned aerial vehicles (UAVs), the media and social media, as well as ground-survey data.

In partnership with geo-information services provider Geospatial Insight, the service will also provide clients with loss estimates within days of a particular event.

“We are delighted to be able to deploy our new GC CAT-VIEW capabilities to assist our clients in quantifying the impact of the worst flooding experienced in the UK since 2007,” said Nick Frankland, CEO of EMEA operations at Guy Carpenter.

Vic Jenkins, from the international strategic advisory team and head of Analytics for UK, MENA and South Africa at Guy Carpenter, added: “Previously, establishing a reliable flood extent would have taken a considerable amount of time and required significant expense to compile and verify the necessary data. Using the latest imaging and analysis technology, we can respond quickly to a catastrophe event, providing our clients with robust information to help them plan and respond in a matter of a few days following the deployment of GC CAT-VIEW.”

The data will in the future also be used to prioritise and deploy loss-adjusting capabilities for other catastrophes.

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