Political Violence

Integrated diverse risk data into Foundry to deliver granular political violence risk scores, significantly enhancing reinsurance pricing accuracy and geopolitical risk mitigation strategies.
Details
Service Offering
Implementation
Industry
Insurance
ROI
3-4x from year 1, compounding over time
Challenge  
  • No standard analysis and quantification of risks related to riots, terrorism, and political violence
  • Complex integration of multiple structured and unstructured data sources, incl. real-time news feeds and historical data
  • Absolute need for data pipelines to remain accurate and up to date while providing actionable insights for pricing and risk mitigation
Solution  
  • Integrated 20 diverse data sources into a unified framework to develop granular risk scores quantifying political violence risk
  • Incorporated risk scores into pricing models used by actuaries
  • Created a bespoke workshop application with customizable map widgets for intuitive visualization and exploration of risk dynamics
Results  
  • Significantly improved ability to mitigate geopolitical risks by integrating risk quantifications into price models
  • Empowered the organization with detailed visual tools and a scalable platform for current and future projects
  • Enhanced operational efficiency and provided a robust framework for ongoing innovation in risk analysis and management

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