LOS ANGELES, Nov. 1, 2021 /PRNewswire-PRWeb/ -- ImageCat and Global Earthquake Model (GEM) partnership provides efficient access to GEM's global seismic hazard and risk information through ImageCat's multi-hazard risk management decision support platforms Inhance® and FACFinder™. Outputs of GEM's global earthquake hazard and risk models are already available in these platforms and provide geospatial information layers for insurance and risk management clients to quickly assess their relative earthquake risks.
"GEM is keen to start a new chapter of partnership with ImageCat in mutually providing hazard, exposure and risk information to support the global risk and disaster management needs of our partners and clients," said John Schneider, GEM Secretary General. "We've already successfully collaborated on several projects over the past decade, so this partnership is the next logical step in the development of our relationship."
"GEM provides global seismic hazard data and risk products that are key for our insurance platform clients involved in managing catastrophe risk, reducing economic losses and saving human lives," said Shubharoop Ghosh. "With this partnership, we are able to provide access to high quality seismic hazard and risk data."
ImageCat's flagship exposure product, Inhance®, is a ground-breaking solution to exposure data problems and provides a suite of analysis tools to help (re)insurers, managing general agents and brokers visualize their property exposures in terms of completeness, accuracy, and appropriateness.
FACFinder™ is an exposure aggregation and hazard mapping platform for Facultative Insurance underwriters that allows them to monitor exposure aggregation and perform better risk analysis. It provides a quick and simple way to identify existing risk locations and their exposure to hazards and allows them to understand the impacts of adding new facultative locations to their book of business.
To learn more about how GEM seismic hazard data can help your business, please join the Inhance Global Data Partner Technical Webinar by registering here: https://us06web.zoom.us/webinar/register/WN_fp1i8QIqQ9SryMAMJi0WkA
About GEM: GEM is a global public-private partnership and non-profit foundation based in Pavia, Italy. GEM develops and disseminates open data, models, and tools to assess earthquake risk and promote earthquake resilience worldwide. GEM's modelling platform, OpenQuake is widely used by academics, the financial/insurance industry, engineers and governments for earthquake hazard and risk modelling applications.
About ImageCat: ImageCat is an international risk management innovation company supporting the global risk and catastrophe management needs of the insurance industry, governments, and NGOs. As a leading provider of risk and disaster management technologies, ImageCat is highly regarded for cutting-edge products, services, and R&D activities, targeting decision support needs at all phases of the disaster management cycle.
ImageCat and GEM recently worked together with six other organizations in the recently concluded METEOR project in delivering exposure data for close to 50 countries, protocols and standards for exposure data collection and analysis aimed at helping developing countries fill the knowledge gap in disaster risk management strategy formulation.
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