Closing the Gap Between the Promise and Reality of Catastrophe Modeling
Today, perceptions about catastrophe modeling range from ardent believers in the value of modeling to mitigate disasters to skeptics who feel modeling cannot consistently deliver the results intended.
This extreme disparity in perception may stem from a combination of unrealistic expectations about what even the best catastrophe models can accomplish and a lack of understanding of what’s needed to optimize their application and results. In fact, the current state of catastrophe modeling lies somewhere in the middle.
Beginning with the completion of my academic studies in earthquake engineering and continuing throughout my 25-year career in property/casualty insurance, I have been driven by the need and the challenge to understand, address and mitigate the impact of large-scale natural catastrophes.
-Deepak Badoni | Co-Founder & President | EigenRisk