Green Shield, Striior announce collaboration for wildfire analytics and underwriting
Green Shield, Striior announce collaboration for wildfire analytics and underwriting | Insurance Business America
Catastrophe & Flood
Green Shield, Striior announce collaboration for wildfire analytics and underwriting
Initiative will build on a builder’s risk program through customized risk strategies
Catastrophe & Flood
By
Kenneth Araullo
Managing general agent (MGA) Striior Insurance Solutions has announced a strategic partnership with risk mitigation specialist Green Shield Risk Solutions that aims to leverage advanced wildfire analytics to enhance underwriting decisions for construction projects in wildfire-prone areas.
The partnership specifically targets Striior’s builders’ risk program, integrating property-level insights and customized risk mitigation strategies into the underwriting process. This approach, Striior explained, will not only allow the MGA to refine its assessment of current exposures, but also identify new market opportunities amid the challenges posed by wildfire risks.
Pat Blandford, the founder of Green Shield, emphasized the nature of their wildfire analytics, which, it was stated, surpass the conventional risk scoring systems used by many large carriers.
These standard models often generalize risk across broad regions or ZIP codes, leading some insurers to withdraw from offering coverage in certain states. With this new collaboration, Green Shield says that it aims to delve deeper, identifying viable properties within high-risk areas and enhancing their defensibility against wildfires.
“We couldn’t be more delighted with the opportunity to support Striior’s world-class team in their efforts to better understand the evolving realities of natural disaster at an individual property level,” Blandford said.
Kaileigh Bowe, president of Striior Insurance Solutions, expressed enthusiasm for incorporating Green Shield’s analytics into their underwriting toolkit.
“Even with deep expertise and knowledge in construction risk, we welcome the use of a tool that can offer robust analytics, like their property-level and portfolio-level insights, to help improve our overall performance and support strategic growth,” Bowe said.
She also praised Green Shield’s proactive approach to helping property owners reduce their wildfire exposure, anticipating a fruitful partnership.
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