High quality data underpins accurate business information enabling day-to-day business decision making, management controls and compliance reporting.
With an industry context of tighter regulation and ever-increasing competition, the re / insurance Industry needs the organisational capability to capture and maintain high quality data content, particularly those data elements critical to understanding the potential impact of catastrophic events.
Accurate, detailed exposure data is a critical pre-requisite for reliable catastrophe model results and this is much wider than having accurate, geo-coded address information for insured assets.
This high quality data will underpin informed underwriting decisions and management / compliance reporting delivered in a transparent, predictable and auditable way.
So given that CAT models and reports are only as good as the data that feeds them, we specialize in placing tools, processes and controls around key CAT and business data to guarantee the quality of that data to satisfy business users and regulators alike.
CRG has a pragmatic approach which combines Subject Matter Experts with a Data Analysis Service enabling fact based assessment of data quality, data standards setting, data cleansing, ongoing data maintenance and effective data governance. Using the CAT maturity model as a guide, we tailor our data service according to your specific needs.
Catastrophe modeling produces large volumes of detailed output that can be difficult to interpret, quality assure and summarize. Understanding the uncertainty relating to these outputs can be a major challenge. Generating reports that can underpin consistent and reliable business decisions is a key value-add.
For this reason, CRG also provides an enterprise Next Generation Reporting CAT solution.
The delivery of a CAT DQ engagement will normally be executed through a combination of a CRG on-site team and off-site service working hand-in-hand with your staff. The integrated team will make use of your own technology where available and / or make specialized tools available as part of the overall service.