Innovation Highlights
2024
KCC announces RIUnderwrite™ Version 2.0, which further streamlines analysis and pricing for distinct underwriting use cases.
KCC releases US Wildfire Model Version 2.0 with the addition of the smoke sub-peril, modeled via a physics-based dispersion model. Version 2.0 includes updated impacts of climate change and a proprietary fuels database developed with advanced machine learning algorithms.
2023
KCC announces the LiveEvent™ Runner, an enhancement to RiskInsight® that delivers daily claims and loss estimates directly to your inbox.
KCC adds shareable interactive maps to RiskInsight®, enabling all levels of an organization to see what is happening with their portfolios in real time.
KCC releases US Hurricane Model Version 4.0, the first model certified by the Florida Commission on Hurricane Loss Projection Methodology to explicitly account for climate change and excess litigation.
KCC announces RIUnderwrite™, an advanced underwriting application that drives the underwriting and decision-making processes for complex commercial policies.
KCC adds to catalog of high-resolution earthquake reference models with new Canada and Caribbean Earthquake Reference Models.
2022
KCC releases climate-conditioned catalogs for US Hurricane, Flood, and Wildfire Models. Nine catalogs for each peril represent projected impacts of the changes in climate for 2025, 2030, and 2050 under three different IPCC SSPs.
KCC releases US Winter Storm Model Version 2.0, to capture the full scope of wind, snow/ice, and freezing impacts from extratropical cyclones and arctic air outbreaks across the entire continental US.
KCC releases updated property exposure database (KPD 2022) incorporating the impacts of supply shortages and COVID-19.
2021
KCC named Catastrophe Modeling Firm of the Year by Inside P&C for “precision, accuracy, and successful innovation in the science of catastrophe risk modeling.”
KCC releases US Winter Storm Reference Model Version 1.0 in January and accurately estimates the losses from the major Arctic Air Outbreak in February at $17 billion. This event immediately demonstrated the accuracy of the KCC winter storm stochastic catalog as well as the real-time loss estimates.
KCC releases US Wildfire Reference Model Version 1.0 that captures the propagation of wildfires using high-resolution data sources and advanced simulation techniques. The fire risk for all locations across the US is accounted for both in high-frequency areas like California and low-frequency areas like the Northeast.
KCC US Hurricane Reference Model V3.0 is released, following certification by the Florida Commission on Loss Projection Methodology. Version 3.0 incorporates a number of scientific advancements, notably its distinction as a three-peril model that captures the impacts of strong winds, storm surge, and precipitation-driven inland flooding.
KCC releases US Inland Flood Reference Model V1.0, which estimates the impacts of inland flood events caused by heavy precipitation using high-resolution data sources and advanced modeling methodologies.
2020
KCC US Flood Model is the first to be approved by the Florida Commission on Hurricane Loss Projection Methodology. The model includes high resolution storm surge and inland flood intensity footprints and losses.
KCC expands suite of catastrophe models to include the earthquake peril for Central America and South America.
2019
KCC US Hurricane Reference Model V2.0 approved by the Florida Commission on Hurricane Loss Projection Methodology.
KCC expands suite of catastrophe models to include Japan typhoon and earthquake, Europe windstorm, Australia earthquake, and Caribbean hurricane.
KCC releases US Earthquake Model V2.1, which incorporates earthquakes occurring in Alaska and Hawaii.
2018
KCC launches Severe Convective Storm (SCS) Daily Update to provide insurers with daily hail and tornado/wind footprints for claims tracking and handling. This is an automated and one-of-a-kind service nowhere else available.
2017
KCC launches LiveEvents™ hurricane tracking and accurately estimates the losses and financial impacts from three major events: Harvey, Irma, and Maria.
KCC releases US Severe Convective Storm (SCS) Reference Model Version 1.0—a multi-peril model that simulates the impacts of hail, tornadoes, and straight-line winds. The KCC US SCS Reference Model is based on a physical modeling methodology and high-resolution atmospheric data that more accurately capture the dynamics of the peril compared to traditional catastrophe models.
2016
KCC launches CATLAB® Workshops to support insurers who are using innovative, "next gen" catastrophe modeling tools. CATLAB is an immersive educational experience through which catastrophe modeling professionals acquire more in-depth knowledge on the inner workings of the models than is possible in other environments.
2015
KCC releases US Earthquake Model Version 1.0, which incorporates the latest USGS research and scientific consensus on the earthquake hazard in the US.
KCC introduces high resolution US Storm Surge Model. Along with enabling insurers to estimate their losses from storm surge, the model produces the 100 and 250 year flood zones along the coast.
2014
KCC launches RiskInsight®, the first open loss modeling platform. RiskInsight includes global mapping capabilities, exposure analytics, data scoring, and an industry database of detailed property exposures that can be used to estimate industry losses and individual company market shares of loss.
2013
KCC launches WindfieldBuilder®, an advanced scientific tool for creating hurricane tracks and wind speeds. WindfieldBuilder enables the creation of realistic windfields for potential future storms as well as for actual storms in real time.
2012
KCC introduces Characteristic Events (CEs), to assist insurance companies in assessing and managing catastrophe risk. CEs are defined-probability events created for specific peril regions that provide a wealth of information to insurance companies. KCC developed CEs as an additional tool that offers a more consistent and effective framework, and a robust scientific approach, to catastrophe risk management.
