AER Respond for Hurricane Isaac Rewind
All eyes were on the Gulf Coast last week as Hurricane Isaac approached land, the impacts of Katrina and Ike still fresh in the minds of citizens and businesses alike. Fortunately, Isaac proved to have a less severe impact than many had anticipated, but AER Respond™ for Hurricane helped businesses and insurers prepare for the potential risks, offering companies the opportunity to precisely quantify the anticipated impact Isaac would have to individual physical assets and their markets of interest.
AER's clients began monitoring Isaac through AER Respond™ for Hurricane about 10 days prior to the storm's U.S. landfall, with particular focus on the potential impacts to the Tri-County area of Florida, Mobile and New Orleans. Sophisticated users were conducting analyses multiple times during their business day in geospatial software, such as AER's integration with SpatialKeyTM, ESRI® ArcGIS® and Google MapsTM, and by leveraging market-specific demand planning analytics. AER's end-to-end analysis of the storm helped our clients quickly and precisely assess the cumulative financial impact that they could expect from the storm, from the Caribbean to the Midwest U.S., allowing them to scale up their preparation earlier and keep their executive teams more informed.
As highlighted in the Hurricane Isaac Rewind video, AER's high-resolution data allowed companies to gain a deeper understanding of how sustained and gust wind speeds vary across different terrain, and where their assets sit in relation to areas of high and low wind risk. AER's post-event analysis of winds measured on the ground indicated that our real-time analysis was accurate to within 5 mph across Louisiana and Mississippi.
Finally, Isaac served as a reminder that water, not wind, frequently is the primary threat from a tropical storm or Cat 1 hurricane. AER's assessment of the storm's rainfall, which includes high-resolution, gauge-corrected measurements, proved useful to validate early insurance claims in Florida and to assess the potential losses to flood and sewer backup insurance coverages in the concentrated areas of Louisiana that sustained the heaviest rainfall.
The AER RespondTM team conducts a post-mortem of all major weather or climate events to assess the value our weather forecasts and analyses and to identify key lessons that are relevant to:
- Insurance claims managers
- Re/insurance risk managers
- Manufacturing logistics directors and
- Retail merchants