In a Hindu Business Line article, Nymphea Batra, Managing Director and CEO, Guy Carpenter India, described the GCAT India Flood Model, the company’s new tool to evaluate flood damage for their Indian clients.
The tool, developed in India by a Guy Carpenter team and local embedded analytics teams of actuaries, tells the probability of having a flood in a particular area, based on which insurance companies will determine the price of that risk, Batra said.
“Though India is a cost-conscious market, the response to the tool has been phenomenal because a risk assessment tool based on a quant model that will be able to estimate the real exposure is the need of the hour,” she continued. “Once the exposure is known, pricing can happen adequately.”
Guy Carpenter introduces financial modelling tool to evaluate flood damages
GCAT India Flood Model
If you are interested in learning more about our India flood model or would like to organize a technical presentation about the details, please contact one of the team members listed in the PDF.