Aon Benfield, a reinsurance intermediary and capital advisor, has launched ImpactOnDemand, a new web-based catastrophe risk management tool that allows insurers to visualize, quantify and connect their exposures to catastrophic events.
According to the Aon Benfield, ImpactOnDemand risk management tool combines the functionality of its ExposureView and CatPortal solutions in one package, and includes new features that can be tailored to clients’ individual risk management requirements such as global mapping analysis and management reports.
The company has said that the web-based tool provides real-time information on catastrophes including earthquakes, hurricanes, wildfires, tornado and hail events, volcanic eruptions, and other ad-hoc events, allows for continuous exposure analysis.
Aon Benfield has added that the tool with the live data feeds from Tropical Storm Risk, an organization that predicts and maps tropical storm activity worldwide, and EuroTempest, a resource for predicting and reporting on European windstorm activity, both of which are sponsored by Aon Benfield Research, will help clients to use forecast and historical information to support claims and capital management processes.
Business Intelligence features of the tool include the ability to consolidate historical cat modeling data to analyze trends and changes in the business. Further functionality includes pre-binding underwriting analysis, key risk driver analysis, claims planning and preparedness, and post-catastrophe and exposure accumulation analyses.
Steve Mildenhall, CEO of Aon Benfield Analytics, said: “ImpactOnDemand allows clients to dynamically interact with their data to build and deliver reports in real-time. Clients can upload and access new exposure or claims datasets at any time, to analyze current information when managing a catastrophe or monitoring portfolio growth.”