EVENT-DRIVEN NATURAL CATASTROPHE MODELING AND MODEL REFINEMENT FOR INSURANCE AND RISK MANAGEMENT

摘要

A system and method for event-based modeling and model refinement for natural catastrophe related risks, including but not limited to fires, floods, earthquakes, and hurricanes/tornados. The system and method feature simultaneous simulation of a plurality of industry models using a variety of risk information, including but not limited to real-time data, recent and historical event data, hypothetical data, and crowd-sourced data. The system and method use a variety of data sources in conjunction with machine learning to continuously and in real-time update and tune the simulated models performance and sensitivity to provide useful risk assessment and risk management data. Based on these model assessments, the system can produce notifications that can be made to enable automated and human actions.