CATLAB™ Workshop: Tracking Live Hurricanes in Real Time
Overview
When a hurricane is approaching the US coastline insurers must start preparing for what the storm could look like in terms of losses and numbers of claims. While there is always uncertainty with respect to landfall location, intensity at landfall, and overland track direction, RiskInsight™ enables insurers to use the most up-to-date meteorological information for planning purposes days before landfall.
In this CATLAB workshop, we'll use Hermine and Matthew as examples of how to leverage the advanced features of WindfieldBuilder™ to obtain the most credible information on a hurricane's likely wind footprint over land. We'll discuss the information available from the National Hurricane Center (NHC) in real time and how that information is supplemented with other important data. This CATLAB workshop will also cover the process for estimating the numbers of claims, ground up and gross losses for each storm track.
By attending Tracking Live Hurricanes in Real Time participants will gain:
- A thorough understanding of the science of tropical cyclones
- An inside look at how the science is built into the hurricane models
- Interactive training on how to use all of the event tracking tools in RiskInsight
- An opportunity to ask detailed questions directly to catastrophe modeling experts
- A chance to give feedback for future enhancements
CATLAB workshops are offered exclusively by KCC and are designed to be immersive educational experiences through which catastrophe modeling professionals acquire more in depth knowledge on the inner workings of the models than is possible in other environments. CATLAB workshops are hosted in an informal setting where participants have direct access to KCC experts to answer questions, explain, and actually show the catastrophe model assumptions.
Dress code: casual
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Agenda
Day 1 — Wednesday, November 30th
| 12:00 - 1:00 | | Participant arrival and informal networking lunch |
| 1:00 - 2:30 | | Anatomy of a hurricane |
| | Tropical cyclone genesis |
| | Factors influencing the shape, size, and intensity of a storm |
| | Differences between alternative scientific formulas, e.g. Holland versus Willoughby |
| 2:30 - 4:00 | | Deep dive into the meteorological data and generating the wind footprint over land |
| | Data in the NHC track file and how it's generated |
| | The importance of Rmax and other variables |
| | Using WindfieldBuilder to generate the wind speeds by location |
| 4:00 - 5:00 | | Estimating the losses and numbers of claims |
| | Review of Reference Model damage functions |
| | How Reference Model damage functions are developed |
| | Impact of secondary uncertainty |
| 5:15 - 6:00 | | Open discussion and client feedback on Hermine and Matthew |
| 7:00 | | Dinner at Boston's famous Legal Seafoods Restaurant |
Day 2 — Thursday, December 1st
| 9:00 -11:00 | | Advanced topics |
| | Creating multiple tracks for storms before landfall |
| | Implementing the cone of uncertainty provided by the NHC |
| | Using ensemble tracks from other sources |
| 11:00 -12:00 | | Building the storm surge footprint |
| 12:00 - 1:30 | | Lunch and presentation: KCC Hurricane Matthew post disaster field survey |
| 1:30 - 2:30 | | After the storm |
| | Best practices for collecting and saving your detailed claims data |
| | Conducting detailed claims analyses and developing custom damage functions |
| 2:30 - 3:00 | | Planned Enhancements to WindfieldBuilder |
