AIR announces real-time climate risk analytics service

Cat modelling firm, AIR Worldwide announced the availability of real-time climate risk analytics, a service providing a real-time view of risk specific to a unique set of assets.

The service addresses the uncertainty in data reported in real time by incorporating a wide range of cat loss scenarios, including low probability, high-impact outcomes.

The service can improve strategic planning by playing out simulated storms, run stress tests and ‘what if’ scenarios and provide forecasted track, intensity, damage and loss analysis based on the latest official reports and forecasts for active storms as they evolves.

Dr. Peter Dailey, vice president and director of atmospheric science at AIR, commented: “by combining real-time climate risk analytics with AIR’s catastrophe risk engineering services, AIR provides an end-to-end solution, from site-specific analysis for modelling the vulnerabilities of assets to real-time climate risk services that help risk managers and agencies better prepare for natural catastrophes. This is a significant improvement over other solutions that look only at real-time hazard data. Decisions can now be made based on the physical and financial risk to the assets under consideration.”