McKenzie Intelligence Services (MIS), a provider of geospatial intelligence to re/insurers, is piloting CAT360, an initiative in which ground-level imagery is introduced to the company’s Global Events Observer (GEO) platform, in addition to the already provided satellite and aerial imagery.
What is described as being a “ground-breaking” solution, CAT360 is designed to provide re/insurers with multi-view imagery to assess damage, following the events of hurricanes.
If the pilot is successful, based on client feedback, it is safe to assume that multi-view imagery will become available on GEO for insurers across the US, including for other natural catastrophe perils.
According to MIS, the CAT360 initiative combines ground-level imagery from specialist vehicles and cameras with space and air imagery, onto one single platform. As a result, this enables insurers to support their customers to financially recover from catastrophic events as quickly as possible.
It is important to note that the objective of CAT360 is to give carriers the ability to proactively respond to customers even before FNOL.
In addition, carriers were previously only able to access aerial imagery at best, which provided them with a two-dimensional view of the damage caused. For the first time, CAT360 provides imagery from space, air, and ground in a single platform, combining MIS’ market-leading intelligence and damage classifications with the ability to see property damage from all angles.
Rosina Smith, CPO at MIS, commented: “MIS has pioneered the use of satellite and aerial imagery for post-catastrophe damage intelligence. Now, in an exclusive market first, it is trialling ground-based imagery from vehicles equipped with 360-degree, high-resolution cameras with our highly engaged, market representative beta-participants.”
“Our on-the-ground data will be available in our market-leading GEO platform, enabling carriers and adjusters to get a street-level view of their affected properties and the wider area following a hurricane. This will enable them to more quickly access their portfolio loss with more accurate reserving, while helping them to allocate the right loss adjusting resources to the right place at the right time to settle claims more quickly and efficiently.”
As a company, MIS is consistently testing and evaluating new technologies and partners on behalf of its clients, so they can concentrate on making the best decisions for their customers.
CAT360 is just the latest innovation from the company that is set to provide the insurance industry with the best intelligence. Even though the platform’s initial focus is on hurricanes, based on feedback, it may be rolled out to cover other US nat cat perils in the future.
