An impactful and informative presentation by Monarch Weather + Climate Intelligence at the Esri Ocean, Weather & Climate (OWC) GIS Forum in Redlands, California. The OWC Forum brought together a dynamic community of weather, climate and ocean science professionals sharing advances to improve outcomes for our Global Future.
Moderated by Esri Project Manager, George Thompson IV, Monarch Founders Crystal Egger and Kathryn Prociv, presented an abstract on Providing Valuable Climate Insights to Reduce Risk within the Insurance Industry.
Working with Esri business partner iMitig8 Risk Global, creators of a cloud-based risk management workflow platform within the insurance industry, Monarch provides an enriched visualization layer of global data with the geolocation of climate risks. The new interactive platform is powered by Esri’s mapping and location intelligence technology.
“Risk Engineers can now access information in one place in a matter of minutes, providing deeper risk insights that could affect the location.” Crystal Egger, President of Monarch.
In an ironic weather turn, Crystal’s partner Kathryn joined the presentation remotely, having to stay on the East Coast to cover updates on the imminent threat from Hurricane Nicole.
“Just when you think you’re safe to travel cross-country and attend a weather-related conference, a rare late-season hurricane makes landfall in Florida. Only one hurricane has made landfall in the continental US on record (since 1851) after November 4th!” Kathryn Prociv, EVP of Monarch.
While the entertaining twist engaged the Esri Conference audience, Crystal and Kathryn related the unusual storm to highlight our changing climate and why Monarch’s data, paired with iMitig8’s platform, can provide valuable information about weather extremes.
“Monarch measures exposure to our changing climate by combining historical observations, calibrated model scenarios and bias-corrected forecast projections (eg. rainfall, wildfires, humidity, wind, temperature, earthquakes, emissions, sea-level rise, and other threats) with data on a company’s assets and their surrounding environment to determine future risk.” Crystal Egger, President of Monarch.
Thanks to these tools, underwriters are able to manage project risks with efficiency, and insurers and reinsurers are able to deliver cost saving analytics.
Wrapping their presentation with questions from the Esri Community, Crystal and Kathryn discussed solutions Monarch can provide with Esri and its partners to help build new and better concepts in ocean and atmospheric analytics and applications, Harnessing the Power of Climate Intelligence.
About Monarch Weather & Climate Intelligence
We are a woman-owned business with a team of Certified Consulting Meteorologists (CCM) and GIS Analysts, providing meteorological and climate services via custom forecasting, modeling and advisory within the insurance, tech, energy, real estate, transportation and agricultural sectors.
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