McKenzie Intelligence Companies (MIS), a worldwide chief in geospatial intelligence and insurance coverage expertise, has reached a big milestone with its International Occasions Observer (GEO) platform. MIS have now responded to over 200 international catastrophic occasions since its launch in 2021 delivering intelligence to the worldwide insurance coverage business on a wide-range of perils internationally.
Masking a mean of 66 catastrophic occasions per yr, GEO has confirmed to be an indispensable device for insurers. MIS gives fast, actionable intelligence for perils together with hurricanes, wildfires, floods, tornadoes, earthquakes, and civil unrest. This milestone underscores MIS’ dedication to equipping the market with the insights wanted to speed up determination making and guarantee better accuracy for claims’ processes and disaster responses.
Reflecting on the journey, Forbes McKenzie, founder and CEO of MIS, mentioned: “Reaching 200 occasion stories in GEO over simply three years highlights the platform’s worth to the business and the rising frequency of pure and human-made disasters. GEO’s capacity to combine multi-sourced knowledge and ship exact insights has reworked how insurers reply to occasions, from understanding portfolio exposures to accelerating claims triage.”
The GEO platform integrates cutting-edge AI with navy intelligence experience to guage property injury utilizing sources akin to imagery from satellites, aerial, and the place attainable human intelligence from ground-based knowledge. This distinctive mixture of information factors allows MIS to course of uncooked knowledge into actionable intelligence for insurers in order that what they’re receiving from MIS is in close to real-time.
In 2024, MIS has responded to over 50 main international occasions on GEO throughout 37 nations. 27 of these occasions have been within the US and what’s extra, this was throughout 9 totally different perils. Wildfires triggered essentially the most responses in 2024, with 11 occasion stories, adopted by 9 for flooding and seven for hurricanes.
Main occasions lined since GEO’s launch in 2021, embrace:
- Hurricane Milton: The most important occasion of 2024 for the insurance coverage business, seeing 19 MIS intelligence releases through GEO over 21 days, together with the evaluation for Wind and Flood Claims Grids, Floor Stage Imagery, and 15cm Aerial Imagery
- Hurricane Ian (Florida, 2022):Assessed 168,000 related in-force shopper areas with in-depth injury evaluations for probably the most economically damaging insurance coverage occasions in latest instances
- Hawaii Wildfires (2023):Delivered assessments for 3,000 impacted properties inside 72 hours, figuring out bodily and inner injury dangers
- Turkey/Syria Earthquake (2023):Pinpointing shopper’s affected insured buildings inside 12 hours, facilitating speedy useful resource deployment to affected policyholders
MIS continues to reinforce GEO’s capabilities to satisfy the calls for of an business dealing with more and more frequent and sophisticated catastrophic occasions. The platform’s capacity to streamline decision-making post-event has earned recognition from prestigious business organisations and strengthened its place as an important useful resource for (re)insurers, loss adjusters and policyholders
Because the frequency of disasters rises attributable to local weather change, MIS stays dedicated to enhancing its distinctive GEO platform to empower insurers to make sooner, better-informed choices, worldwide.
