#MakeMyMApp: Analyzing Seismic Risk for Insurance Policies

The recent earthquake in Treviso, Italy has brought fresh reminders of the devastating effects of seismic activity. Natural disasters like this one carries an immense cost, both in terms of human life and and the cost of cleaning and rebuilding afterward. Insurance companies must take the seismic risk into account when calculating premiums for their policies. These premiums should accurately reflect the risk of the insured event. For this reason, Hexagon Geospatial Channel Manager, Russia, Georgy Dudyrev, created an Incident Analyzer View that allows users to visualize the risk of seismic activity to help these companies optimize insurance coverage and premium cost. Learn more about the Insurance Seismic Risk Incident Analyzer View in this Q&A.

What theme does your Incident Analyzer View support?
The Insurance Seismic Risk Incident Analyzer View supports the Finance theme.

What does it show?
The Insurance Seismic Risk Incident Analyzer View shows the overall risk of the payment of insurance premiums because of an insured event – in this case, an earthquake. Risk level is based on geographical location of an object in a seismic zone according to Russian General Seismic Zonation Map GSZ 97-A, Figure 4. The Incident Analyzer view also contains information from insurance contracts. Additionally, there is photo of each object and panoramic view for insurers to review without visiting the field. Panoramic data will be soon available through M.App Chest for purchase for projects, such as creating an Incident Analyzer View.

Why did you create this Incident Analyzer View?
This view was made after discussion with a Russian insurance company once they came to the conclusion to use GIS to analyze insured objects. Seismic activity is one of the requested indices.

Describe your experience using Incident Analyzer: 
I don`t have any developer experience, but building an Incident Analyzer View was still relatively simple. Most of the time is spent preparing the data in a CSV file to upload into Incident Analyzer.

Try out the Insurance Seismic Risk Incident Analyzer View as well as other Interactive Incident Analyzer Demos available. In addition, you can look into building your own Incident Analyzer View, or let us make one for you as part of #MakeMyMApp!

About Georgy Dudyrev:

georgyAs Channel Manager for Russia and Baltic states, Georgy Dudyrev helps Hexagon Geospatial partners offer their customers effective geospatial solutions.

 

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