Wildfire Risk: 3 Things that Insurers Need to Know

Wildfires: once merely an afterthought for the insurance industry, these destructive events have increasingly become more of a risk factor for underwriters to consider.  It makes sense that with the low demand for wildfire risk data historically, there had not been much in the way of powerful tools and resources that could accurately gather this information […]

Why Proactive Wildfire Planning is Essential

Risk assessments and real-time data are key to saving lives and land In the summer of 2018, the Spring Creek Fire was rampaging in Colorado.  A piece in The Denver Post at the time depicted a difficult picture: “Firefighters are bulldozing fire lines around numerous subdivisions and communities including the small mountain town of Cuchara, CO, […]

Understanding Wildfire Risk: The Marshall Fire – Not Your Average Wildfire

The most destructive fire in Colorado history, the Marshall Fire, started December 30th, 2021 in Boulder County and burned over 6,200 acres. Estimates dated January 6th show 1,091 structures were destroyed and 179 were damaged worth an estimated $513 million. Of the 2,071 total single-family units identified by Precisely’s Address Fabric within the burn perimeter, […]

Insurance Technology Trends

Without a doubt, the insurance industry is driven by data. Even before the rise of personal computers, the Internet, and widely available analytical tools, insurers relied heavily on insurance technology and statistical analysis to assess risk and price policies accordingly. Today, insurers have access to more data than ever before. This is a double-edged sword; […]