“I can’t stop the tornado. I can’t stop the ignition of the wildfire or the hurricane that is coming. But we do know enough to narrow the path of destruction. And for us, it is about that science, but it has to be translated into specific actions that people can take.”
“How do we manage the losses in the property space — to minimize them, but also to better approach the underwriting and pricing and all the other dimensions that come in to bear as people understand the risks?”
Interest in better wildfire detection and suppression is growing in the wake of massive fires in California and Australia — costly disasters that are expected to become more common as climate change makes some areas drier and hotter.
Darren Tasker, head of energy and construction, North America, for Allianz Global Corporate & Specialty, sat down with Risk & Insurance to discuss his perspectives on a Predict & Prevent approach — and which risk carriers are turning their attentions to.
The third installment of podcast Predict & Prevent explores how IoT sensors can be used to detect water leaks. Here’s how one partnership between risk manager and insurer demonstrates how these new tools can predict and prevent loss.