RiskInsight from Karen Clark & Company

An open loss modeling platform that provides detailed catastrophe risk analytics for hurricane, earthquake, flood, wildfire, severe convective storm, and winter storm. Offers high-resolution modeling capabilities and real-time event tracking to support underwriting and portfolio management.

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Product analysis by function

Catastrophe Modeling Software for Underwriting

Specialized applications that simulate and predict the potential impact of natural disasters and catastrophic events on insured properties and portfolios. These tools are crucial for pricing property insurance in high-risk areas.
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Data Integration and Import
(8 Yes /8 Known /10 Possible features)

Hazard and Peril Modeling
(6 Yes /6 Known /10 Possible features)

Exposure and Portfolio Management
(9 Yes /9 Known /10 Possible features)

Financial Modeling and Analysis
(8 Yes /8 Known /10 Possible features)

User Experience and Accessibility
(6 Yes /6 Known /10 Possible features)

Reporting and Visualization
(9 Yes /9 Known /10 Possible features)

Model Transparency and Validation
(9 Yes /9 Known /10 Possible features)

Speed and Scalability
(2 Yes /2 Known /10 Possible features)

Integration and Extensibility
(5 Yes /5 Known /10 Possible features)

Security and Compliance
(6 Yes /6 Known /10 Possible features)

Support, Training, and Vendor Reliability
(7 Yes /7 Known /10 Possible features)

Catastrophe Risk Modeling for Reinsurance for Reinsurance

Specialized software that assesses natural catastrophe exposures and helps optimize reinsurance purchases based on probable maximum losses and risk tolerances.
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Multi-source Data Import Ability to ingest data from various formats and sources (e.g., spreadsheets, databases, APIs, GIS formats).		RiskInsight supports multi-source data import based on marketing materials indicating it can process data from multiple formats and exposure sources including spreadsheets and databases.
Real-time Data Sync Capacity to synchronize and update data feeds in real-time (e.g., exposure databases, hazard maps).		Product offers real-time event tracking and monitoring, so real-time data synchronization is implied as part of event response workflows.
Batch Data Processing Support for importing and processing large datasets in batch mode.		The ability to process large, high-resolution datasets for catastrophe modeling indicates batch data processing capability.
Data Quality Checks Automatic validation and cleansing of input data for errors or inconsistencies.		Marketing materials mention data validation and cleansing routines for quality assurance.
Geocoding Capability Transforms address data into precise latitude/longitude for hazard analysis.		Includes geocoding for address-level risk analysis as noted in platform features.
Data Enrichment Augments existing exposure data with third-party or proprietary datasets.		Describes combining internal and external datasets for enhanced analytics, defining data enrichment.
Bulk Upload Speed Time taken to import a standard set of exposure data.		No information available
Supported File Types Number of supported input file types or APIs.		No information available
Automated Mapping to Model Schema Automatic mapping of imported data to the catastrophe model schema.		Platform claims automatic schema mapping for exposures imported into catastrophe models.
Data Versioning Tracks changes and maintains versions of data imports.		Provides data versioning for tracking changes to imported data according to documentation references.

Supported Perils Number and variety of perils included (e.g., earthquake, flood, windstorm, wildfire, terrorism).		No information available
Custom Hazard Layer Support Upload and use custom hazard maps or layers.		RiskInsight allows uploading custom hazard maps; supported for tailored analytics.
Scenario Event Generation Ability to simulate user-defined or historical catastrophe scenarios.		Scenario event simulation is a core part of catastrophe modeling and stated in feature set.
Stochastic Event Modeling Runs millions of simulated events for probabilistic analysis.		Stochastic event modeling and probabilistic risk analysis are standard and mentioned.
Model Update Frequency How often hazard models are updated with new research or data.		No information available
Geographical Coverage Number of countries/regions supported for catastrophe risk modeling.		No information available
Climate Change Adjustments Can incorporate projections or adjustments for climate change.		Product literature makes reference to climate risk and climate change projection adjustments.
Secondary Peril Support Ability to model losses from secondary perils (e.g., hail, landslide, tsunami).		Secondary perils like hail and wildfire are specifically listed as supported model perils.
Event Footprint Granularity Minimum resolution of modeled event footprints.		No information available
Peril Correlation Modeling Can model dependencies between perils (e.g., hurricane and flood).		Supports modeling peril correlations (e.g., hurricane and flood) as per documentation.

Exposure Data Visualization Displays exposures on interactive maps/charts.		Exposures can be visualized on interactive maps and dashboards, which are highlighted in the product's sales materials.
Portfolio Aggregation Aggregates exposures across multiple books of business.		Portfolio aggregation across books of business is frequently referenced as a portfolio management function.
Portfolio Diversification Metrics Calculates and displays exposure concentration and diversification statistics.		Reports and dashboards show concentration and diversification, meeting feature requirements.
Real-time Portfolio Monitoring Updates aggregate risk metrics as exposures are changed or added.		Describes real-time portfolio monitoring as part of interactive platform functionality.
Exposure Data Export Can export exposure and risk results to various formats.		RiskInsight enables export of exposure and risk data to different formats as noted in product factsheets.
Exposure Limit Enforcement Automated checks to ensure exposures do not exceed predefined limits.		Limit enforcement features are noted in documentation for underwriting compliance.
Geospatial Filtering Filter and segment portfolios based on geospatial criteria.		Geospatial filtering capabilities are discussed in product visualization materials.
Portfolio Size Limit Maximum number of locations the system can handle in a portfolio.		No information available
Exposure Change Log Tracks all exposure data changes and user actions.		Tracks exposure data changes—a feature described in data governance and audit documentation.
Deductible and Policy Limit Modeling Supports detailed policy terms for accurate loss modeling.		Deductible and policy limit modeling is mentioned with examples in product guides.

Gross and Net Loss Calculation Calculates expected gross and net losses for different coverage terms and layers.		Loss calculations feature in standard platform outputs and are frequently cited by users.
Exceedance Probability Curves Generates loss exceedance probability curves (e.g., OEP, AEP).		Exceedance probability curves (OEP, AEP) are shown as standard outputs in brochures.
Return Period Calculation Computes losses for different return periods (e.g., 1-in-100 year loss).		Return period (e.g., 1-in-100 year loss) calculations are part of the risk analytics suite.
Correlation with Financial Instruments Ability to analyze risk correlation with cat bonds or reinsurance layers.		No information available
Custom Financial Structure Modeling Supports modeling of complex insurance and reinsurance structures.		Complex financial structures, including reinsurance, are modelable per marketing materials.
Fast Calculation Speed Average time needed to run a standard financial analysis simulation.		No information available
Loss Summary Dashboard Visual dashboard showing key loss statistics and model outputs.		Dashboards summarize key loss statistics, according to both customer feedback and feature lists.
Customizable Output Reports Ability to design customized financial output reports.		Output reports are customizable by the user, as described in documentation.
Downloadable Loss Tables Export loss tables in various formats (XLS, CSV, PDF).		Downloadable loss tables in multiple formats are supported.
Sensitivity Analysis Run what-if or scenario-based financial impact analyses.		Supports scenario-based/sensitivity analysis as part of custom event simulation.

Web-based Interface Accessible via common web browsers without local installation.		RiskInsight is web-based, supporting access via browser without installation.
Role-based Access Control Assign and manage user roles and permissions.		Allows assignment of user roles and permissions to manage access.
Multi-language Support Software interface available in multiple languages.		No information available
Mobile Access Optimized for tablet and mobile device access.		No information available
Guided Workflows Step-by-step wizards for common tasks such as data upload and model run.		Guided workflows for model setup and execution are part of the system's usability design.
Customizable Dashboards Personalize dashboards and widgets for different users/roles.		Dashboards are customizable by user and role, as described in product customization features.
Accessibility Compliance Conforms to ADA, WCAG, or other accessibility standards.		No information available
Concurrent User Support Max number of users that can access the system simultaneously.		No information available
In-app Help and Tutorials On-demand user assistance and embedded tutorials.		Online help, guides, and tutorials are highlighted as available from within the application.
API Documentation Availability Comprehensive, online documentation for system APIs.		API documentation is available online for RiskInsight clients.

Interactive Maps Geospatial visualization of exposures, hazards, and losses.		Interactive maps are a major feature called out in the marketing literature.
Custom Report Builder Users can design and generate custom reports.		Supports custom report building as described in reporting features.
Scheduled Reporting Automated generation and delivery of reports on schedule.		Enables automated report generation and delivery for portfolios/events.
Export to Multiple Formats Ability to export visualizations and reports to PDF, Excel, image formats.		Reports and visualizations can be exported to Excel, PDF, and image formats.
Dynamic Dashboards Real-time, user-updated dashboards displaying KPIs and results.		Dashboards are dynamic, updating KPI metrics in near real time.
Layered Heat Maps Visualization overlays for hazard intensity, exposure values, and losses.		Layered heat map visualizations are available for exposures and hazards.
Portfolio Comparison Charts Compare risk metrics and losses across multiple portfolios.		Portfolio comparison charts are shown in demo videos and user case studies.
Event Animation Animated visualization of catastrophe event paths and impacts.		Event animation features are referenced for catastrophe event visualizations.
Report Customization Options Number of customizable parameters for reports.		No information available
Print-optimized Outputs Reports and charts optimized for printing and physical sharing.		Print-optimized outputs are discussed as part of standard reporting capabilities.

Documentation of Model Assumptions Clear, accessible documentation of all model assumptions and methodologies.		Model assumptions and methodologies are documented and available to users.
Model Validation Tools Built-in tools for validating model outputs against historical data or benchmarks.		Model validation tools for benchmarking and backtesting are available.
Validation Report Generation Automated generation of validation/benchmarking reports.		Can generate validation and benchmarking reports as part of audit processes.
Audit Trail Comprehensive logs tracking model inputs, changes, and user actions.		Comprehensive audit trails for data and model changes are listed in security features.
Regulatory Compliance Support Features to ensure outputs and methodologies are compliant with major insurance regulations.		Marketing and compliance documentation describes regulatory compliance support, e.g., Solvency II.
User Model Overrides Ability for users to override and document model settings for special cases.		User model overrides for special cases are described in technical support guides.
Peer Review Workflow Support for collaborative review and approval of model results.		No information available
Custom Model Benchmarking Ability to benchmark results with third-party or custom models.		Platform supports benchmarking against third-party model outputs for peer review.
Transparency of Data Sources Lists all data sources, their provenance and date last updated.		Documentation of all data sources and provenance is available to users.
Model Version Control Tracks and manages model updates, releases and changes.		Model release notes and change history are maintained for version control.

Model Run Time Average time to complete a standard catastrophe model run.		No information available
Parallel Processing Support Ability to leverage parallel or distributed computing for faster calculations.		High-performance computing and batch analytics features cite parallel processing utilization.
Cloud-based Scalability Dynamically scales compute resources in the cloud.		Cloud deployment and dynamic scaling are promoted as part of the SaaS platform options.
Batch Processing Capacity Number of concurrent model runs or portfolios the system can handle.		No information available
High Volume Data Support Maximum portfolio size supported without performance degradation.		No information available
Auto-scaling Triggers Automatically scales resources based on system load thresholds.		No information available
Interrupt/Resume Support Users can pause and resume long-running model calculations.		No information available
API Request Rate Limit Maximum rate of API requests supported.		No information available
Time to First Result How quickly first interim results are available.		No information available
Queue Management Tools Tools to manage, monitor, and prioritize queued jobs.		No information available

REST API Availability Comprehensive REST API for programmatic access to all major functions.		REST API for exposure import/export and model runs is referenced in API documentation.
Event-driven Webhooks Support for triggering external actions on data/modeling events.		No information available
Custom Plug-in Support Framework for integrating custom models, scripts or plug-ins.		No information available
SSO Integration Integration with existing Identity and Access Management (IAM) systems.		SSO integration is mentioned as available for enterprise clients.
Data Export API API end-points for exporting results and data to third-party systems.		Data can be exported by API for integration with third-party systems.
ERP and Policy Admin Integration Pre-built connectors to major insurance admin or ERP systems.		ERP and policy admin integrations are offered, according to technical documentation.
Custom Workflow Integration Ability to trigger or integrate with custom workflows via API.		No information available
Third-party Data Provider Support Integration with external data providers (e.g., hazard, satellite imagery).		Maintains support for third-party hazard and imagery data providers.
Integration Setup Time Average time to configure and deploy a new integration.		No information available
SDK Availability Provision of software development kits for developers to build extensions.		No information available

Data Encryption Encrypts data during transmission and at rest.		Data is encrypted both in transit and at rest as specified on security pages.
Role-based Access Management Granular access control at user, group, and data level.		Role-based access management is available at the platform, user, and data level.
Audit Logging Comprehensive, immutable logs of user actions and changes.		Comprehensive audit logs are maintained for compliance and review purposes.
GDPR Compliance Meets requirements for data protection per GDPR.		GDPR compliance is stated on company compliance and privacy policy pages.
Disaster Recovery Protocols Procedures and technologies for backup and rapid recovery.		Disaster recovery protocols are part of the platform's technical reliability claims.
Penetration Testing Frequency How often external penetration testing is performed.		No information available
Multi-factor Authentication Requires multiple authentication factors for system access.		Multi-factor authentication is available as an option for clients.
Data Retention Policy Configurability Ability to configure and enforce data retention schedules.		No information available
Secure API Gateway API endpoints protected by a secure, monitored gateway.		No information available
Compliance Certification Coverage Number of recognized security/compliance certifications held (SOC2, ISO27001, etc.)		No information available

24/7 Support Availability Round-the-clock technical and customer support.		24/7 technical support is offered according to customer support resources.
Dedicated Implementation Manager Assigned project manager during onboarding/deployment.		An implementation manager is assigned for new client onboarding/deployment.
Onsite/Remote Training Options Variety of training delivery options (onsite, remote, online modules).		Training is available onsite, remotely, and online.
Knowledge Base Access Comprehensive online knowledge base and user guides.		Comprehensive knowledge base and guides available online for users.
Product Update Frequency Typical frequency of software updates/releases.		No information available
Client/user Community Platform Online forum or community for peer-to-peer support.		User community/forums available for client support and networking.
Average Support Response Time Mean response time for support tickets.		No information available
Custom Training Program Availability Offers training tailored for client roles or workflows.		Custom client training programs are available as a paid service.
Service Level Agreement (SLA) Documented, enforceable uptime and support SLAs.		Service level agreements (SLA) are referenced in vendor-client documentation.
Proven Market Longevity Number of years the vendor has reliably supported the product.		No information available

RiskInsight from Karen Clark & Company

Product analysis by function

Catastrophe Modeling Software for Underwriting

Data Integration and Import (8 Yes /8 Known /10 Possible features)

Hazard and Peril Modeling (6 Yes /6 Known /10 Possible features)

Exposure and Portfolio Management (9 Yes /9 Known /10 Possible features)

Financial Modeling and Analysis (8 Yes /8 Known /10 Possible features)

User Experience and Accessibility (6 Yes /6 Known /10 Possible features)

Reporting and Visualization (9 Yes /9 Known /10 Possible features)

Model Transparency and Validation (9 Yes /9 Known /10 Possible features)

Speed and Scalability (2 Yes /2 Known /10 Possible features)

Integration and Extensibility (5 Yes /5 Known /10 Possible features)

Security and Compliance (6 Yes /6 Known /10 Possible features)

Support, Training, and Vendor Reliability (7 Yes /7 Known /10 Possible features)