ISO Enhances Catastrophe-History Database to Speed Up Insured Property Loss Searches, Analyses

ISO has enhanced ISO’s CatCube catastrophe-history database to speed up database searches and provide in-depth analysis of insured property losses from catastrophes in the U.S. since 1950.

ISO’s CatCube is a property/casualty source of insured property loss estimates from catastrophes in the U.S. Available through ISOnet, ISO’s CatCube is a comprehensive resource for catastrophe planning, reinsurance purchase, resource allocation and underwriting, and marketing programs.

ISOnet is ISO’s secure Internet platform for delivering information to insurance professionals.

“ISO’s CatCube now makes it easier and faster to access catastrophe-history data from the Property Claim Services (PCS) database, allowing insurers to undertake smaller and more focused studies for analysis,” said Gary Kerney, assistant vice president of ISO’s PCS unit. “Faster analysis enables insurers to make decisions quickly, reduce expenses and improve productivity.”

The enhanced catastrophe-history database also streamlines workflow by enabling insurers to create customized, preformatted reports that are available in real time whenever an insurer searches the database. Insurers can order up to five preformatted reports free of charge. The enhanced database is updated weekly to provide complete and accurate loss data for analysis.

Powered by Cognos PowerPlay business-intelligence database technology, ISO’s CatCube has been created to help insurers explore catastrophe information by any combination of elements in the database, including:

* catastrophe serial number;
* date of occurrence;
* state(s) affected;
* type of catastrophe (includes 10 categories);
* amount of loss (estimated payment, average payment, number of claims and total dollar amounts);
* type of estimate (preliminary, resurvey or final).

“ISO’s CatCube benefits customers in analyzing loss-development changes in the months following many catastrophes. From PCS resurveys of carriers, ISO’s CatCube is able to identify trends in loss payments,” Kerney added. “The changes in estimates of ultimate payments by insurers are valuable for assessing future losses and benchmarking an individual carrier’s own loss development, whether the changes indicate an increase or decrease from the initial impact of events.”

For more information on ISO’s CatCube catastrophe-history database, send e-mail to info@iso.com.