Guy Carpenter launches new cat evaluation service

Guy Carpenter & Company, LLC, recently launched its new satellite-based catastrophe evaluation service, GC CAT-VIEWSM, with the announcement that it has started using the service to provide clients affected by the recent UK floods with initial insured loss estimates.

The new service, which is provided through an exclusive partnership with specialist geo-information services provider Geospatial Insight Limited, analyzes Earth Observation (EO) Satellite and radar imagery, plus footage from unmanned aerial vehicles (UAVs), the media and social media, as well as ground-survey data, to produce initial loss estimates.

Using GC CAT-VIEWSM, Guy Carpenter has been able to analyze detailed imagery of the areas affected by the recent UK floods to map the flood extent. By overlaying geocoded client risk location data, the team is helping insurers identify which policies have been affected and providing associated potential loss estimates. The data will in the future also be used to prioritize and deploy loss-adjusting capabilities.

Commenting on the launch and the initial work carried out with insurers affected by the recent floods, Nick Frankland, CEO of EMEA operations at Guy Carpenter, said: “We are delighted to be able to deploy our new GC CAT-VIEWSM capabilities to assist our clients in quantifying the impact of the worst flooding experienced in the UK since 2007.”