In SpatialKey’s Event Response application, you can receive automated alerts that enable you to mitigate and respond to catastrophe events in real time. Once you have this feature enabled on your portfolio, email alerts will go out each time we receive an update from our data partners that impact your portfolio.<\/p>\n
You can opt to receive an email any time an active event impacts your portfolio, or you can throttle the notifications by setting a threshold to only alert you when the event severity, total exposure (TIV) or number of impacted locations reaches a certain level. <\/p>\n
For example, you may only want to receive hurricane notifications once the wind speeds impacting your portfolio reach a certain level of severity. In the example below, you’d receive a notification only once wind speeds reaching 74 mph or above impact your portfolio, regardless of the TIV or the number of locations impacted.<\/p>\n
Wind (NOAA)<\/strong> Severity<\/strong><\/th>\n| TIV<\/strong><\/th>\n | Locs<\/strong><\/th>\n<\/tr>\n<\/thead>\n\n | 74+ mph<\/td>\n | 0<\/td>\n | 1<\/td>\n<\/tr>\n | 58+ mph<\/td>\n | <\/td>\n | No Notification<\/td>\n<\/tr>\n | 39+ mph<\/td>\n | <\/td>\n | No Notification<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n | Notifications only at 74+ mph<\/em><\/p>\n Or maybe you want to set a threshold to notify you even if your locations fall within a lower wind band, but only if your portfolio exposure exceeds $1,000,000. In the example below, because the severity level accounts for anything hitting that severity or greater (i.e., 39+ mph), you will be alerted if that exposure is reached at any severity.<\/p>\n Notifications when TIV exceeds $1,000,000 at any severity<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n To layer on to that last scenario, maybe you want to know if your exposure exceed $1,000,000 or<\/span> the number of impacted locations hits 1,000 or above. A threshold can do that too! If you set a value for both TIV and location count, you’ll receive a notification if either of those thresholds are hit.<\/p>\n Notifications when TIV exceeds $1,000,000 or 1000 locations at any severity<\/em><\/p>\n Now, let’s try out a more complicated cascading scenario. Say you want to be notified at lower severity levels, but only when the potential damaged value or number of locations is very high. You will want that threshold to gradually decrease as the wind severity increases, so you don’t miss anything where severe claims are more probable. Here’s an example where the threshold tries to catch large impact at lower severities while not missing even a small number of potential damage at higher severities.<\/p>\n Cascading scenario<\/em><\/p>\n In the above cascading scenario, each severity level has a TIV or<\/span> number of locations that will be used as a threshold. As soon as any one of those thresholds are met, an email notification will go out. <\/p>\n Now, let’s say you license hurricane wind, cone, AND p-surge data from NOAA. You might want to set a threshold for each of those perils individually even though they are all included in the same email alert when a hurricane happens. Below is an example where thresholds have been set for both wind and surge and if any of those criteria are met an email will go out covering both perils.<\/p>\n Multiple perils for the same event<\/em><\/p>\n Where can I see my thresholds?<\/p>\n<\/div>\n |
|---|