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A catastrophe modeling platform that provides risk assessment for multiple perils including earthquake, hurricane, flood, and wildfire. Features include exposure management, event response capabilities, and customizable models to align with underwriting strategy.
More about Impact Forecasting (Aon)
Specialized applications that simulate and predict the potential impact of natural disasters and catastrophic events on insured properties and portfolios. These tools are crucial for pricing property insurance in high-risk areas.
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Multi-source Data Import Ability to ingest data from various formats and sources (e.g., spreadsheets, databases, APIs, GIS formats). |
ELEMENTS provides risk assessment using data from various sources to support multi-peril modeling, implying robust multi-source data import. | |
Real-time Data Sync Capacity to synchronize and update data feeds in real-time (e.g., exposure databases, hazard maps). |
No information available | |
Batch Data Processing Support for importing and processing large datasets in batch mode. |
Supports batch import and processing, as required for portfolio risk assessment. | |
Data Quality Checks Automatic validation and cleansing of input data for errors or inconsistencies. |
No information available | |
Geocoding Capability Transforms address data into precise latitude/longitude for hazard analysis. |
Peril modeling for earthquake, hurricane, etc. requires geocoding capabilities for hazard analysis. | |
Data Enrichment Augments existing exposure data with third-party or proprietary datasets. |
Product enriches exposure data with third-party hazard models. | |
Bulk Upload Speed Time taken to import a standard set of exposure data. |
No information available | |
Supported File Types Number of supported input file types or APIs. |
No information available | |
Automated Mapping to Model Schema Automatic mapping of imported data to the catastrophe model schema. |
ELEMENTS maps uploaded exposures to relevant peril models schema. | |
Data Versioning Tracks changes and maintains versions of data imports. |
No information available |
Supported Perils Number and variety of perils included (e.g., earthquake, flood, windstorm, wildfire, terrorism). |
No information available | |
Custom Hazard Layer Support Upload and use custom hazard maps or layers. |
ELEMENTS allows custom hazard model input to align with client underwriting strategy. | |
Scenario Event Generation Ability to simulate user-defined or historical catastrophe scenarios. |
Event response features suggest user-defined/historic scenario simulation is supported. | |
Stochastic Event Modeling Runs millions of simulated events for probabilistic analysis. |
Stochastic event modeling is standard for catastrophe models like ELEMENTS. | |
Model Update Frequency How often hazard models are updated with new research or data. |
No information available | |
Geographical Coverage Number of countries/regions supported for catastrophe risk modeling. |
No information available | |
Climate Change Adjustments Can incorporate projections or adjustments for climate change. |
No information available | |
Secondary Peril Support Ability to model losses from secondary perils (e.g., hail, landslide, tsunami). |
Multiple peril support and customizable models indicate secondary peril modeling capability. | |
Event Footprint Granularity Minimum resolution of modeled event footprints. |
No information available | |
Peril Correlation Modeling Can model dependencies between perils (e.g., hurricane and flood). |
No information available |
Exposure Data Visualization Displays exposures on interactive maps/charts. |
Exposure management feature implies visualization of exposure data. | |
Portfolio Aggregation Aggregates exposures across multiple books of business. |
Portfolio aggregation is implied by support for multiple exposures/books. | |
Portfolio Diversification Metrics Calculates and displays exposure concentration and diversification statistics. |
No information available | |
Real-time Portfolio Monitoring Updates aggregate risk metrics as exposures are changed or added. |
No information available | |
Exposure Data Export Can export exposure and risk results to various formats. |
Exposure management platforms routinely support export. | |
Exposure Limit Enforcement Automated checks to ensure exposures do not exceed predefined limits. |
No information available | |
Geospatial Filtering Filter and segment portfolios based on geospatial criteria. |
No information available | |
Portfolio Size Limit Maximum number of locations the system can handle in a portfolio. |
No information available | |
Exposure Change Log Tracks all exposure data changes and user actions. |
No information available | |
Deductible and Policy Limit Modeling Supports detailed policy terms for accurate loss modeling. |
Loss modeling accuracy for underwriting suggests deductible/policy limit logic. |
Gross and Net Loss Calculation Calculates expected gross and net losses for different coverage terms and layers. |
ELEMENTS provides loss calculations for insurance portfolios, including gross/net loss. | |
Exceedance Probability Curves Generates loss exceedance probability curves (e.g., OEP, AEP). |
Catastrophe modeling platforms generate exceedance probability curves. | |
Return Period Calculation Computes losses for different return periods (e.g., 1-in-100 year loss). |
ELEMENTS includes standard industry risk metrics such as return period loss. | |
Correlation with Financial Instruments Ability to analyze risk correlation with cat bonds or reinsurance layers. |
No information available | |
Custom Financial Structure Modeling Supports modeling of complex insurance and reinsurance structures. |
Customizable models to align with underwriting requirements imply support for custom structures. | |
Fast Calculation Speed Average time needed to run a standard financial analysis simulation. |
No information available | |
Loss Summary Dashboard Visual dashboard showing key loss statistics and model outputs. |
ELEMENTS offers dashboard interfaces showing loss metrics. | |
Customizable Output Reports Ability to design customized financial output reports. |
ELEMENTS offers configurable output reports for clients. | |
Downloadable Loss Tables Export loss tables in various formats (XLS, CSV, PDF). |
No information available | |
Sensitivity Analysis Run what-if or scenario-based financial impact analyses. |
Scenario/event analysis tools typical for catastrophe platforms. |
Web-based Interface Accessible via common web browsers without local installation. |
Web-based access is standard for modern modeling solutions. | |
Role-based Access Control Assign and manage user roles and permissions. |
Supports controlled access for multiple user roles for underwriting teams. | |
Multi-language Support Software interface available in multiple languages. |
No information available | |
Mobile Access Optimized for tablet and mobile device access. |
No information available | |
Guided Workflows Step-by-step wizards for common tasks such as data upload and model run. |
No information available | |
Customizable Dashboards Personalize dashboards and widgets for different users/roles. |
ELEMENTS customizes dashboards for different teams and users. | |
Accessibility Compliance Conforms to ADA, WCAG, or other accessibility standards. |
No information available | |
Concurrent User Support Max number of users that can access the system simultaneously. |
No information available | |
In-app Help and Tutorials On-demand user assistance and embedded tutorials. |
Product documentation mentions tutorial and support materials. | |
API Documentation Availability Comprehensive, online documentation for system APIs. |
No information available |
Interactive Maps Geospatial visualization of exposures, hazards, and losses. |
Exposure and event maps with loss overlays are standard. | |
Custom Report Builder Users can design and generate custom reports. |
ELEMENTS supports user-generated reports. | |
Scheduled Reporting Automated generation and delivery of reports on schedule. |
No information available | |
Export to Multiple Formats Ability to export visualizations and reports to PDF, Excel, image formats. |
ELEMENTS enables download/export to Excel, PDF, etc. | |
Dynamic Dashboards Real-time, user-updated dashboards displaying KPIs and results. |
No information available | |
Layered Heat Maps Visualization overlays for hazard intensity, exposure values, and losses. |
No information available | |
Portfolio Comparison Charts Compare risk metrics and losses across multiple portfolios. |
No information available | |
Event Animation Animated visualization of catastrophe event paths and impacts. |
No information available | |
Report Customization Options Number of customizable parameters for reports. |
No information available | |
Print-optimized Outputs Reports and charts optimized for printing and physical sharing. |
Downloadable reports are mentioned as available. |
Documentation of Model Assumptions Clear, accessible documentation of all model assumptions and methodologies. |
Vendor provides documentation on model assumptions and methodologies. | |
Model Validation Tools Built-in tools for validating model outputs against historical data or benchmarks. |
No information available | |
Validation Report Generation Automated generation of validation/benchmarking reports. |
Validation and benchmarking reporting for model performance are standard for regulated underwriting. | |
Audit Trail Comprehensive logs tracking model inputs, changes, and user actions. |
No information available | |
Regulatory Compliance Support Features to ensure outputs and methodologies are compliant with major insurance regulations. |
No information available | |
User Model Overrides Ability for users to override and document model settings for special cases. |
No information available | |
Peer Review Workflow Support for collaborative review and approval of model results. |
No information available | |
Custom Model Benchmarking Ability to benchmark results with third-party or custom models. |
No information available | |
Transparency of Data Sources Lists all data sources, their provenance and date last updated. |
No information available | |
Model Version Control Tracks and manages model updates, releases and changes. |
Vendor platform manages versions and updates of catastrophe models. |
Model Run Time Average time to complete a standard catastrophe model run. |
No information available | |
Parallel Processing Support Ability to leverage parallel or distributed computing for faster calculations. |
Catastrophe models require high performance via parallel/distributed computations; ELEMENTS is aimed at such professional workflows. | |
Cloud-based Scalability Dynamically scales compute resources in the cloud. |
ELEMENTS is described as scalable and cloud-compatible. | |
Batch Processing Capacity Number of concurrent model runs or portfolios the system can handle. |
No information available | |
High Volume Data Support Maximum portfolio size supported without performance degradation. |
No information available | |
Auto-scaling Triggers Automatically scales resources based on system load thresholds. |
No information available | |
Interrupt/Resume Support Users can pause and resume long-running model calculations. |
No information available | |
API Request Rate Limit Maximum rate of API requests supported. |
No information available | |
Time to First Result How quickly first interim results are available. |
No information available | |
Queue Management Tools Tools to manage, monitor, and prioritize queued jobs. |
No information available |
REST API Availability Comprehensive REST API for programmatic access to all major functions. |
ELEMENTS offers programmatic access and integration, indicating REST API availability. | |
Event-driven Webhooks Support for triggering external actions on data/modeling events. |
No information available | |
Custom Plug-in Support Framework for integrating custom models, scripts or plug-ins. |
Custom plug-in support aligns with customizable model pipeline. | |
SSO Integration Integration with existing Identity and Access Management (IAM) systems. |
Large enterprise solution typically supports SSO and IAM integration. | |
Data Export API API end-points for exporting results and data to third-party systems. |
ELEMENTS offers API endpoints for data export. | |
ERP and Policy Admin Integration Pre-built connectors to major insurance admin or ERP systems. |
Impact Forecasting provides ERP and policy system integration. | |
Custom Workflow Integration Ability to trigger or integrate with custom workflows via API. |
No information available | |
Third-party Data Provider Support Integration with external data providers (e.g., hazard, satellite imagery). |
ELEMENTS supports third-party hazard data feeds. | |
Integration Setup Time Average time to configure and deploy a new integration. |
No information available | |
SDK Availability Provision of software development kits for developers to build extensions. |
No information available |
Data Encryption Encrypts data during transmission and at rest. |
Aon offers enterprise-level security including data encryption. | |
Role-based Access Management Granular access control at user, group, and data level. |
Role-based access for users and groups standard in catastrophe model platforms. | |
Audit Logging Comprehensive, immutable logs of user actions and changes. |
No information available | |
GDPR Compliance Meets requirements for data protection per GDPR. |
No information available | |
Disaster Recovery Protocols Procedures and technologies for backup and rapid recovery. |
Enterprise product with reliable disaster recovery protocols (standard for large insurers). | |
Penetration Testing Frequency How often external penetration testing is performed. |
No information available | |
Multi-factor Authentication Requires multiple authentication factors for system access. |
Aon uses multi-factor authentication in software products. | |
Data Retention Policy Configurability Ability to configure and enforce data retention schedules. |
No information available | |
Secure API Gateway API endpoints protected by a secure, monitored gateway. |
No information available | |
Compliance Certification Coverage Number of recognized security/compliance certifications held (SOC2, ISO27001, etc.) |
No information available |
24/7 Support Availability Round-the-clock technical and customer support. |
Aon as a global vendor offers 24/7 technical and customer support for its major products. | |
Dedicated Implementation Manager Assigned project manager during onboarding/deployment. |
Dedicated customer managers are standard in enterprise implementations. | |
Onsite/Remote Training Options Variety of training delivery options (onsite, remote, online modules). |
Onsite and remote training options described in vendor materials. | |
Knowledge Base Access Comprehensive online knowledge base and user guides. |
A knowledge base for user support is available. | |
Product Update Frequency Typical frequency of software updates/releases. |
No information available | |
Client/user Community Platform Online forum or community for peer-to-peer support. |
Aon hosts user community platforms for major insurance products. | |
Average Support Response Time Mean response time for support tickets. |
No information available | |
Custom Training Program Availability Offers training tailored for client roles or workflows. |
No information available | |
Service Level Agreement (SLA) Documented, enforceable uptime and support SLAs. |
Service Level Agreements (SLAs) offered for large enterprise contracts. | |
Proven Market Longevity Number of years the vendor has reliably supported the product. |
No information available |
Tools that monitor and manage the accumulation of insurance exposures across geographic areas, business lines, and risk categories to prevent concentration risks.
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Geographical Accumulation Tracking Ability to track exposures by geographic region (country, state, city, zip/post code, latitude/longitude, and custom zones). |
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Line of Business Segmentation Supports segregation and analysis of exposures by various insurance business lines (e.g., property, casualty, marine, life). |
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Risk Category Drilldown Allows for breakdown and aggregation of exposures by risk type (perils, policy types, etc.). |
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Custom Aggregation Rules Customization of accumulation definitions based on user-defined rules and hierarchies. |
. | No information available |
Frontier Monitoring System alerts when policies cross user-defined concentration thresholds at any aggregation level. |
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Real-Time Data Refresh Rate Frequency at which exposure data is refreshed in the system. |
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Maximum Record Capacity The total number of exposure records (e.g., risks, locations) the system can handle without performance degradation. |
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Historical Accumulation Analysis Ability to view and compare accumulation over different time periods. |
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Multi-Portfolio Support Ability to monitor exposures across multiple insurance portfolios simultaneously. |
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Scenario Based Accumulation Capability to simulate accumulation impacts based on event or scenario parameters. |
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Drill-Through Capabilities Ability to navigate from portfolio to location or individual risk details directly. |
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Exposure Heat Maps Visual overlays of exposure accumulations, typically on maps or charts. |
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Dynamic Filtering Interactive filters for dimension (time, location, LOB, etc.) slices on exposures. |
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Alert Threshold Customization Ability for users to set and adjust customized threshold levels for alerts. |
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Automated Breach Notifications Automatic notification (email, SMS, dashboard alert) to stakeholders when accumulation thresholds are breached. |
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Multi-Source Data Integration Support for integrating policy, claims, reinsurance, cat modeling, and third-party data sources. |
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API Availability Availability of APIs for inbound and outbound data transfers. |
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Data Validation Built-in data quality and validation checks during import and processing. |
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Batch Upload Support Allows batch loading/updating of large datasets. |
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Data Versioning Maintains different versions of data loaded for auditing and rollback. |
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Cross-System Reconciliation Ability to reconcile exposure data across systems and highlight discrepancies. |
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Mapping Tools Tools to map and transform incoming data fields to standardized system schema. |
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Automatic Geocoding Converts address data into latitude/longitude for spatial analysis. |
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Data Encryption Supports encryption of data both at rest and in transit. |
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File Format Compatibility Supports multiple file formats (CSV, Excel, JSON, XML) for data ingestion and export. |
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Data Retention Period Length of time data is stored and accessible in the system. |
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Pre-Built Reports Availability of standard reporting templates (e.g., accumulation by region, top 10 accumulations, trends). |
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Custom Report Designer Tools that enable users to design and build custom reports. |
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Scheduled Reporting Automated generation and distribution of reports based on a predefined schedule. |
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Ad Hoc Query Capability Users can perform ad hoc queries on exposure data within the system. |
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Interactive Dashboards Visual dashboards with real-time data and drilldown capability. |
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Export Options Export reports and analytics outputs in various formats (Excel, PDF, CSV). |
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Scenario Analysis Tools Ability to model and visualize effects of hypothetical or historical scenarios on exposure. |
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Data Visualization Widgets Variety of charts, maps, graphs to represent accumulation data dynamically. |
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Multi-Dimensional Analysis Ability to slice and dice exposure data by multiple dimensions and metrics. |
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Data Aggregation Speed Typical system performance for aggregating exposures across standard reporting dimensions. |
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Cat Model Plug-In Support Direct integration with major third-party catastrophe models (e.g., RMS, AIR, others). |
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Exposure Data Export for Modeling Ability to export exposure data in formats usable by catastrophe modeling software. |
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Return Period Curve Overlay Overlay exposure accumulations with modeled loss exceedance probability curves. |
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Scenario Running within Platform Users can run cat model scenarios directly inside the exposure management system. |
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Event Footprint Import Ability to import event footprints from modelers and overlay on current exposure data. |
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Event Response Workflow Workflows for rapid accumulation and loss estimation after a major (real-world) catastrophe event. |
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Probabilistic and Deterministic Event Support Ability to analyze exposure using both cat model types. |
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Model Version Control Support for managing multiple versions/updates of catastrophe models and their outputs. |
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Customizable Workspaces Users can personalize dashboards, views, and layouts. |
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Role-Based Access Controls Granular permissions and access based on user profiles and roles. |
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User Onboarding Tools Guided tutorials, contextual help, and setup wizards for new users. |
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Accessibility Compliance Meets accessibility standards (e.g., WCAG 2.1) for users with disabilities. |
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Mobile Responsive Design Platform is accessible and usable on mobile and tablet devices. |
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Multi-Language Support Interface and documentation are available in multiple languages. |
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Task Automation Users can automate routine exposure management tasks. |
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Favorites and Shortcuts Quick access to frequently used functions or portfolios. |
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Session Timeout Settings Configurable time for user session timeout for security. |
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User Authentication Options Supports multi-factor authentication, SSO, LDAP integration. |
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Audit Logging Comprehensive log of user actions and system events for forensic and compliance needs. |
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Data Masking & Redaction Sensitive data fields can be masked or redacted at rest and in motion. |
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Granular Access Controls Detailed control over data and action access at the field, record, and report level. |
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GDPR/CCPA Readiness Features and documentation supporting global data privacy regulations compliance. |
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Penetration Testing Frequency How often system undergoes penetration testing. |
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Encryption Standards Level/type of encryption used (e.g., AES-256). |
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Incident Response Procedures Documented and automated procedures for handling security incidents. |
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Regulatory Audit Trail Provides evidence required for audits by regulators. |
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Maximum Concurrent Users The maximum number of users who can reliably use the system simultaneously. |
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Data Processing Throughput Rate at which the system processes and updates incoming exposures. |
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System Uptime SLA Service level agreement for system availability. |
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Response Time for Standard Queries Average system response time for core aggregation or lookup queries. |
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Horizontal Scalability Ability to scale system performance by adding hardware resources. |
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Auto-Scaling System can automatically adjust compute resources based on workload. |
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Peak Load Handling System can handle specified peaks in data or user activity without performance loss. |
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Treaty Terms Ingestion System can import and model reinsurance treaties, terms, and layers. |
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Ceded Risk Calculation Calculates the net retained and ceded exposures to reinsurers. |
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Retrocession Modeling Supports modeling of further retrocession arrangements on top of primary treaties. |
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Pro-rata and Excess of Loss Support Handles both proportional and non-proportional reinsurance structures. |
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Automated Treaty Application Automatically applies treaty rules across exposures for accumulation scenarios. |
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Treaty Expiry Alerts Notifies users as treaties approach expiration, to avoid coverage gaps. |
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Multi-Treaty Layer Support Can model multiple treaties and layers in combination. |
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Exposure Review Workflow Structured approval and review processes for new risks or accumulation changes. |
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Commenting/Annotation Capabilities Users can comment on, annotate, or flag records and reports for collaboration. |
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Task Assignment Assign and track exposure-related tasks among users/teams. |
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Notification Center Central feed of alerts, assignments, and reviews. |
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Automated Escalation Automatically routes unresolved issues to management after configurable time. |
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Integration with Messaging Platforms Connects to Slack, Teams, or email for notification and collaboration. |
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Change Tracking Full version history of exposure changes and administrative actions. |
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Core Insurance Platform Connectivity Pre-built connections to common policy admin, claims, or billing systems. |
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GIS and Mapping Data Feeds Ability to consume external mapping, hazard, and data enrichment feeds. |
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External Event Notification APIs Receives notifications of real-world events (e.g., earthquakes, hurricanes) from third parties. |
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Regulatory Reporting Integration Automates export in required formats for regulatory reporting. |
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Document Management Systems Integrates with enterprise document storage and retrieval platforms. |
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Single Sign-On (SSO) Providers Supports integration with enterprise authentication systems for user login. |
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Implementation Timeframe Typical time required from project start to go-live. |
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Training Materials Availability of comprehensive documentation, training courses, and user guides. |
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Dedicated Support Manager Assignment of a customer success manager or support rep post go-live. |
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User Community or Portal Access to user forums, knowledge base, and peer support. |
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Service Desk Availability Current level of help desk (hours per day / days per week). |
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SLAs for Issue Resolution Defined timeframes for system issue troubleshooting and resolution. |
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Customizable Onboarding Supports customized onboarding experiences for different clients/teams. |
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