The cyclone made landfall at midnight. By morning, the Chief Risk Officer knew three things with certainty: the storm had cut through a densely insured coastal corridor, this was a major loss event, and the reinsurance notification needed to go out before the London market opened. What she did not know , because the information simply did not exist anywhere in usable form , was how much her organisation had actually lost.
Our client, a leading property and agriculture insurer, had spent years insuring against exactly this kind of event without ever building the infrastructure to answer the one question that mattered most in its aftermath. Three weeks later, the notification it had sent on professional judgement turned out to be 43% short of the real number. Kreate Technologies was brought in to make sure that gap never happened again.