Pitney Bowes Software launches first US national wildfire risk software solution for the insurance sector

 

Today, at the opening of the Reinsurance Association of America (RAA) Cat Modeling Conference in Orlando, Florida, Pitney Bowes Software launched the first national wildfire risk software solution for the insurance sector. The Pitney Bowes Risk Data Suite Wildfire Bundle for property and casualty insurers is available for commercial and private markets. According to the National Interagency Fire Center, more than 82,000 wildfires occurred across 10 million acres in the US last year. Insurers can now attribute accurate wildfire risk ratings during the underwriting process to any commercial or private location in the United States. Underwriting calculations can now integrate wildfire risk in much the same way they account for flood risk to establish correct policy pricing. The data suite supports cat modeling with fire behavior science provided by Anchor Point Group Fire Management Consultants. The vast array of vegetation across the US, weather history and key geological attributes are calculated by location to help predict how wildfires are fueled and how they might spread.