Our climate is changing rapidly and the impacts associated with our weather have never been greater. Two Esri StartUp companies have come together to apply their expertise and unique offerings to address these challenges through improved risk assessment within the insurance industries. By utilizing Esri mapping tools, Monarch Weather & iMitig8 assist clients navigating weather extremes by adding critical value to problem solving on a national and global level. Business leaders can then access the data via cloud-based risk management workflow patterns for engineering analytics. Monarch measures exposure to our changing climate by combining historical observations, calibrated model scenarios and bias-corrected forecast projections (eg. rainfall, wildfires, humidity, wind, temp, earthquakes, sea-level rise, and other threats) with data on a company’s assets and their surrounding environment to determine future risk. Underwriters are able to manage project risks with powerful efficiency. Insurers and Reinsurers save time and money for streamlined workflow, and important analytics are delivered to the stakeholders to help build strong client relationships.
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