American Family signs up for Karen Clark’s full suite of cat models

American Family Group has licensed Karen Clark & Company’s (KCC) full suite of US catastrophe models, delivered through the RiskInsight open loss modeling platform.

The multi-year agreement includes the KCC models for hurricane, earthquake, severe convective storm, winter storm and wildfire, as well as KCC’s daily live event support and claims.

Karen Clark, KCC’s chief executive officer, described American Family as one of the US’ largest and most highly regarded insurers, which she said is “well positioned to leverage the advanced capabilities of the KCC models and applications.”

Joseph Gates, American Family’s chief risk officer, emphasised the importance of full transparency on model components and KCC’s continual innovation in the catastrophe modeling space.

“We value models that are rigorous in their scientific application and generate high-resolution loss estimates with complete spatial coverage,” he added.

Mike Tine, KCC senior director, said: “KCC’s advanced and automated processes provide hail and tornado/wind intensity footprints by 7 am ET each morning that American Family can use to monitor and manage daily claims activity.”

KCC continually adds value to its modeling applications and its clients’ processes, Clark said.

“KCC is also laser focused on the accuracy of the loss estimates and making sure our models are always up to date with respect to changes in the environment, including the climate,” she added.

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