Catastrophe modeling firm AIR Worldwide has released Real-Time Climate Risk Analytics, a service for corporations and emergency management agencies to help them better manage and assess their risk from natural catastrophes. The service is designed to address uncertainties in data reported in real time by incorporating catastrophe loss scenarios, including low-probability, high-impact outcomes, for improved planning and decision making.
AIR says companies and emergency management agencies can receive a real-time view of risk, specific to the vulnerabilities of assets, such as an industrial facility, a set of retail locations, or an entire region. The core technology behind the analytics service is ClimateCast, a web-based application that tracks and assesses risk from active tropical cyclones in the Atlantic basin.
ClimateCast is updated four times daily and assimilates data from the National Hurricane Center and other meteorological organizations, says AIR. Corporate risk managers can apply Real-Time Climate Risk Analytics to strategic planning, operational planning, and real-time decision making.
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