Over the past 20 years, the insurance industry has gradually grown up to the fact that the frequency of catastrophic events is increasing steadily and have major repercussions as far as property and business liabilities are concerned. As a result, the reliance on CAT modeling for the insurance and risk management industry has grown exponentially. As more data becomes readily available, the algorithms for these models also become significantly more complex and require an in-depth understanding of catastrophe modeling for insurance to compute in a day what otherwise can easily take weeks.
At Flatworld, our global team of insurance catastrophe modelers and catastrophe analysts coordinate their efforts to help your organization better manage your exposures. We serve as the sole point of contact and assist you with identifying, quantifying, and managing risks while cutting down costs and increasing efficiency.
Our CAT modeling team works as an extension of your property insurance team to collate AAL and all the required insurance coverage information and validate the same. Our time-proven processes leverage high-end, industry-leading software to run programs which can easily model your portfolio based upon real-time data and deliver concise reports which can then be used by your team to make the correct decision.
When you outsource catastrophe modeling for insurance to FWS, you can benefit from our set processes and our robust operations which serve as a backbone for your mission-critical processes. Our transformative role in your insurance operations can help you benefit greatly in terms of costs as well as gaining significant customer approval. Our services include -
Apart from the above, we also offer -
While the basic framework for all our models remains the same, we can also customize it based upon specific parameters as requested by you. These are the basic steps of how our catastrophe modeling for insurance works -
Our team of CAT modelers are efficient and have in-depth experience in this niche field. You can be assured of their ability to deliver under crunch circumstances and to easily manage multiple models simultaneously while providing detailed insights into every single risk scenario. Because we have worked with insurance companies around the world, our CAT modeling services will be tuned to your needs, no matter where you are from. Our key differentiators include -
We consider ourselves as true innovators in the space of insurance CAT modeling. We have gone beyond the traditional modeling approach and laid the foundation for CAT modeling in the future, which leverages data and analytics to predict loss and risk at speeds which can only help your business save time and focus. By partnering with us, you stand to gain from the following -
We have more than 17 years of experience in the insurance industry, and serve as a one-stop shop for insurers and provide offerings that span the value chain for P&C insurance, life/annuity insurance, etc. This expertise directly translates into better, more experienced handling for our clients and reliability you cannot just gain within a few years.
Our CAT modeling for insurance helps to streamline your day to day processes while improving the overall quality of service with our tech-enabled solutions for the modern insurance company. We leverage the power of AI, machine learning, and deep analytics to bring considerable change to your existing platform.
With an experience of more than 5000 man-hours and a team consisting of more than 50 insurance industry-certified professionals, we foster learning and growth like no other service provider. This results in a team which knows the ins and outs of the property and casualty insurance industry, and who can consult you on wide-ranging topics.
With delivery centers around the world, we can always ensure there is a team working on your requirements from a location of your own choosing. Each team also has a dedicated project manager assigned for better on-hands service.
Our pricing structures are ideal for both large multinational chains and small businesses alike. If you choose you can also move to a variable costing structure and choose from a variety of different pricing models which enable you to get the best out of our services.
We are constantly improving our existing services through routine process improvement and transformative initiatives, by bringing inefficiencies in our global delivery models, and our industry-leading technology solutions.
Flatworld Solutions provided support to manage an insurance database to a US client. Additionally, we assisted in the management of insurance accounts and AR functions.
Flatworld Solutions helped in speeding up the process for a US client with policy checking services. The services were provided at cost-effective rates in quick TAT.
Traditional, old fashioned catastrophe models have not been able to keep up space with the changing times, particularly when it comes to incorporating big data analytics, technology such as AI and ML, flexible architecture, etc. With the amount of data readily available for insurers today, we can help them enhance their risk selection process, underwriting, and package pricing. We deliver advanced models in a scientific and efficient manner, ensuring our clients can benefit from world-class catastrophe modeling technology. To learn more about our offerings, contact us now!