June 26, 2017 5:39 AM ET

Software

Company Overview of Karen Clark & Company

Company Overview

Karen Clark & Company provides catastrophe risk assessment and management processes. The company develops processes to validate catastrophe models for various types of natural hazards in the United States and internationally, as well as provides catastrophe models to assess and manage catastrophe risk. It also offers exceedence probability curve, a catastrophe output model that provides estimates of the probabilities of various levels of loss; and executive briefings, which offer directors of companies with timely and relevant information on hurricanes and earthquakes. In addition, the company provides consulting services in the areas of catastrophe model evaluation, exposure data review, ca...

10 Street James Avenue

Boston, MA 02116

United States

Founded in 1983

Phone:

617-423-2800

Fax:

617-423-2808

Key Executives for Karen Clark & Company

Chief Executive Officer and President
Senior Vice President
Senior Vice President
Age: 55
Senior Vice President
Compensation as of Fiscal Year 2016.

Karen Clark & Company Key Developments

Karen Clark & Company Releases Version 4.3 of RiskInsight® Open Loss Modeling Platform

Karen Clark & Company announced the release of RiskInsight® Version 4.3. The update includes enhancements to the interactive dashboards, custom model building tools, and the job manager. The interactive loss dashboards now automatically display Exceedance Probability (EP) curves by peril and combined, historical event losses, and the Characteristic Event (CE) losses for all return periods. Version 4.3 supports custom models for all peril types, including flood and severe convective storm (SCS), along with expanded event catalog creation capabilities. A new job manager makes it easier to set up complex analyses and distribute these across multiple processors. RiskInsight Version 4.3 makes it possible to track actual tornado and SCS events in real time. For one localized tornado or an outbreak of tornadoes and hailstorms, RiskInsight users can immediately assess how much exposure they have in the affected area and estimate their likely losses. With the new model-building tools in V4.3, insurers can also create their own catalog of custom events. The updated job manager utilizes new high performance computing (HPC) techniques to distribute jobs across the loss analysis cluster as needed to meet performance requirements.

Karen Clark & Company Releases RI4 Update to the RiskInsight Open Loss Modeling Platform

Karen Clark & Company (KCC) announced the release of the RI4 update to the RiskInsight open loss modeling platform. The update includes enhanced global mapping capabilities, more detailed and interactive underwriter and CEO dashboards, and significantly advanced model-building tools. In RI4, insurers and reinsurers can build hurricane and earthquake models anywhere in the world by adding custom event catalogs and damage functions appropriate for specific peril regions. RiskInsight's model-building tools, HazardMapper and DamageRatesManager, have been enhanced in RI4 to make it easier for model builders to create high resolution probabilistic catastrophe models reflecting their own knowledge, expertise and views of risk. External stakeholders, such as rating agencies and regulators, now expect (re)insurers to take ownership of the risk and not just rely on third party model output. RI4 is the most efficient platform for companies to fully understand, customize and control their catastrophe model assumptions. Only with the full transparency available in RiskInsight can companies truly verify the credibility of the information driving their loss estimates. RI4 includes detailed global soil maps and terrain datasets covering all countries and territories. Modeling experts can simply select the scientific intensity formulas most appropriate for the specific peril region from a dropdown box. For example, RI4 includes dozens of earthquake attenuation functions incorporating the collective scientific expertise on ground motion for all types of seismic sources. The RI4 financial module has global application and is operational for all peril regions. To create a new model, an event catalog and set of damage functions are all that's required. Advanced modeling experts can build and customize new models in a matter of weeks. RI4 makes it straightforward for insurers to refine the model damage functions utilizing their own claims data and other information. Insurers can directly access and refine the Reference Model damage functions to produce closer alignment between modeled and actual loss experience. The catastrophe model damage functions are expressed as the ratio of the financial loss to a property divided by the replacement value of that property. But each insurer has different insurance-to-value assumptions, policy conditions, and claims handling practices. This means that the damage to a specific property will result in a different claim and loss amount depending on which insurer underwrites the property. The RiskInsight exposure analytics have also been significantly enhanced with RI4. With just a few clicks, underwriters can generate custom dashboards reports, including interactive maps of exposures and market shares, data quality scores, and dozens of histograms illustrating construction, occupancy, year built, and other metrics. The 100 year Characteristic Event (CE) profiles unique to RiskInsight are automatically displayed on the dashboard reports. These profiles enable underwriters to quickly see the correlations in their portfolios. The RI4 maps are fast and interactive so underwriters can zoom in to see increasingly higher resolution data down to individual locations. Data can be aggregated at different levels of geographic resolution and compared across different time periods.

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Recent Private Companies Transactions

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