Aon Benfield launches next generation real-time catastrophe risk management tool
London - Aon Benfield, the world’s premier reinsurance intermediary and capital advisor, today announces the launch of ImpactOnDemandSM. ImpactOnDemand is a new generation of its flagship risk management tools which continue to allow insurers to visualize, quantify and connect their exposures to catastrophic events. Insurers can upload their most current portfolios for viewing and analysis at any time.
ImpactOnDemand combines the functionality of Aon Benfield’s award-winning ExposureView and CatPortal solutions in one comprehensive package, and includes new features that can be tailored to clients’ individual risk management requirements such as robust global mapping analysis and management reports. ImpactOnDemand provides Aon Benfield clients with the ability to plot a million risk locations in less than five seconds.
The web-based tool, which requires no installation or local storage capacity, provides real-time information on catastrophes including earthquakes, hurricanes, wildfires, tornado and hail events, volcanic eruptions, and other ad-hoc events, allows for continuous exposure analysis.
Meanwhile, live data feeds from Tropical Storm Risk, an organization that predicts and maps tropical storm activity worldwide, and EuroTempest, the leading resource for predicting and reporting on European windstorm activity, both of which are sponsored by Aon Benfield Research, enable clients to use forecast and historical information to support claims and capital management processes.
Business Intelligence features include the ability to consolidate historical cat modelling data to analyze trends and changes in the business. Further functionality includes pre-binding underwriting analysis, key risk driver analysis, claims planning and preparedness, and post-catastrophe and exposure accumulation analyses.
Steve Mildenhall, Chief Executive Officer of Aon Benfield Analytics, said: “Leading edge data analysis and reporting tools are becoming increasingly important to clients – the quality of data analysis can make a huge difference to their risk management strategies, and can help to evaluate the inherent strength of their business models. ImpactOnDemand allows clients to dynamically interact with their data to build and deliver reports in real-time. Clients can upload and access new exposure or claims datasets at any time, to analyze current information when managing a catastrophe or monitoring portfolio growth.”
Dominic Christian, co-Chief Executive Officer of Aon Benfield, said: “This tool represents an exciting development in risk management, and is a direct result of the huge investment we are continuing to make in our analytical capabilities. It is a real-time aid to insightful business decisions.”
About Aon Benfield
As the industry leader in treaty, facultative and capital markets, Aon Benfield is redefining the role of the reinsurance intermediary and capital advisor. Through our unmatched talent and industry-leading proprietary tools and products, we help our clients to redefine themselves and their success. Aon Benfield offers unbiased capital advice and customized access to more reinsurance and capital markets than anyone else. As a trusted advocate, we provide local reach to the world’s markets, an unparalleled investment in innovative analytics, including catastrophe management, actuarial, and rating agency advisory, and the right professionals to advise clients in making the optimal capital choice for their business. With an international network of more than 4,000 professionals in 50 countries, our worldwide client base is able to access the broadest portfolio of integrated capital solutions and services. Learn more at aonbenfield.com.
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