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KatRisk 2017 RAA Poster
1. 0%
20%
40%
60%
80%
100%
A AE AH VE X
% Compe((ve within Flood Zone
Flood Zone
Flood Zone
Target Premium Lower than NFIP Premium
Florida Example Case Study
Quickly Assess Opportuni=es in the Flood Insurance Market
² How many proper=es can be
wriGen profitably at or below NFIP
rates
² What price and underwri=ng
structure will allow to compete most
given your appe=te for risk
² Which types of proper=es to target
with the highest probability of
success
KatRisk and Milliman have teamed up to
create a fast, robust, and cost effec=ve
way to answer these ques=ons:
² Market Baskets – PorWolios of
hypothe=cal risks represen=ng about 10%
of the residen=al market
² Expected losses by policy for each
risk in the market basket due to inland
flood and storm surge
² NFIP premium by policy for each risk
in the market basket
² Cri=cal risk factors that contribute to
flood risk
If you are trying to decide whether to
enter the private flood insurance
market, you’d probably like to know:
o Assuming a target loss ra=o of 35% an
insurer can write about 77% of the
homes in Florida at rates less than those
of NFIP
o In each of the NFIP flood zones, a
significant number of homes can be
wriGen profitably
Insurers and reinsurers can License the Flood Insurance Datasets to evaluate
the market for flood insurance quickly without a major resource investment.
Datasets also provide a cri(cal founda(on for the development sophis(cated
underwri(ng and target market strategies.
Loss Ra=o = Modeled Loss/NFIP Premium
Tampa Surge and Inland Flood