{"id":14893,"date":"2024-06-06T11:42:20","date_gmt":"2024-06-06T17:42:20","guid":{"rendered":"https:\/\/vexceldata.com\/improving-loss-estimates-a-customer-use-case-with-vave\/"},"modified":"2024-11-05T15:44:21","modified_gmt":"2024-11-05T21:44:21","slug":"improving-loss-estimates-a-customer-use-case-with-vave","status":"publish","type":"post","link":"https:\/\/vexceldata.com\/au\/stories\/improving-loss-estimates-a-customer-use-case-with-vave\/","title":{"rendered":"Improving Loss Estimates: A Customer Use Case with Vave"},"content":{"rendered":"\n<div class='flex_column av-bxddig-a9c2e5ab30b62c0c1ed20972df941254 av_one_fifth  avia-builder-el-1  el_after_av_postcontent  el_before_av_three_fifth  avia-builder-el-first  first flex_column_div '     ><\/div>\n<div class='flex_column av-b5y5e0-fa9121ff830f227b8840704963f8ff72 av_three_fifth  avia-builder-el-2  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div '     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lx1ybmia-dfe4a8d0aab067727e1f3e75eeb2f828\">\n#top .av-special-heading.av-lx1ybmia-dfe4a8d0aab067727e1f3e75eeb2f828{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-lx1ybmia-dfe4a8d0aab067727e1f3e75eeb2f828 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-lx1ybmia-dfe4a8d0aab067727e1f3e75eeb2f828 .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-lx1ybmia-dfe4a8d0aab067727e1f3e75eeb2f828 av-special-heading-h3 blockquote elegant-quote elegant-centered  avia-builder-el-3  avia-builder-el-no-sibling '><h3 class='av-special-heading-tag'  itemprop=\"headline\"  ><span class=\"heading-wrap\">Improving Loss Estimates: A Customer Use Case with Vave<\/span><\/h3><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><\/div>\n<div class='flex_column av-9tl3x4-fa9198e4827761619385902e91ad196a av_one_fifth  avia-builder-el-4  el_after_av_three_fifth  el_before_av_one_full  flex_column_div '     ><\/div>\n<div class='flex_column av-7elgq0-5ff3b6d88ca6f02498f32050e1b7010b av_one_full  avia-builder-el-5  el_after_av_one_fifth  el_before_av_one_fifth  first flex_column_div column-top-margin'     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lx1z4j2d-1a5ecc278b5532f5b839086d7c95e26f\">\n.avia-image-container.av-lx1z4j2d-1a5ecc278b5532f5b839086d7c95e26f img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-lx1z4j2d-1a5ecc278b5532f5b839086d7c95e26f .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-lx1z4j2d-1a5ecc278b5532f5b839086d7c95e26f av-styling- avia-align-center  avia-builder-el-6  avia-builder-el-no-sibling '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" class='wp-image-9305 avia-img-lazy-loading-not-9305 avia_image ' src=\"https:\/\/vexceldata.com\/wp-content\/uploads\/2024\/06\/26.453062-81.951732-1.jpeg\" alt='' title='26.453062, -81.951732 (1)'  height=\"593\" width=\"1280\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/vexceldata.com\/wp-content\/uploads\/2024\/06\/26.453062-81.951732-1.jpeg 1280w, https:\/\/vexceldata.com\/wp-content\/uploads\/2024\/06\/26.453062-81.951732-1-300x139.jpeg 300w, https:\/\/vexceldata.com\/wp-content\/uploads\/2024\/06\/26.453062-81.951732-1-1030x477.jpeg 1030w, https:\/\/vexceldata.com\/wp-content\/uploads\/2024\/06\/26.453062-81.951732-1-768x356.jpeg 768w, https:\/\/vexceldata.com\/wp-content\/uploads\/2024\/06\/26.453062-81.951732-1-705x327.jpeg 705w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/div><\/div><\/div><\/div>\n<div class='flex_column av-5i8orc-838abe369cd39d296fcf1c513ab7553e av_one_fifth  avia-builder-el-7  el_after_av_one_full  el_before_av_three_fifth  first flex_column_div column-top-margin'     ><\/div>\n<div class='flex_column av-3mqzmg-ca7c225d88a8c094863da31cbe8cdafb av_three_fifth  avia-builder-el-8  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div column-top-margin'     ><p><section  class='av_textblock_section av-lx1z0vzd-75f382ea9dbb80c861e8c0b40b902d19'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p>It&#8217;s officially the hurricane season when the most tropical or subtropical cyclones are likely to form. From June 1 through November 30, the watch is on and this year, the <a href=\"https:\/\/www.noaa.gov\/news-release\/noaa-predicts-above-normal-2024-atlantic-hurricane-season\">National Oceanic and Atmospheric Administration (NOAA) expects an above-normal hurricane season<\/a>. The hope is that the impact won&#8217;t be great; the reality could be otherwise.<\/p>\n<p>The reality of the impact of Hurricane Ian in September 2022 was devastating to much of Florida, causing catastrophic damage as a Category 4 storm. Many GIC members were quickly engaged in trying to assess how many of their customers were affected, including <a href=\"https:\/\/vavemga.com\/\">Vave<\/a>, a Managing General Agent (MGA) working with Canopius.<\/p>\n<h5>CAT Experts Needing Disaster Imagery &amp; Data Analytics<\/h5>\n<p>Well known for being CAT experts, Vave delivers precision algorithmic underwriting for high-risk residential and commercial properties in the U.S. After the devastation of Hurricane Ian across Florida, Vave used the high-resolution aerial imagery and data analytics of the GIC to improve its loss estimation and solidify its book of business.<\/p>\n<p class=\"p1\">\u201cWe had GIC imagery in our hands before the storm clouds had cleared, providing crucial early insight on the most impacted locations,\u201d said, Tim Spencer, Vave\u2019s Head of Portfolio Analytics. \u201cA couple of days later we received building-level damage data from the GIC allowing us to perform building damage assessment on our portfolio, and generate initial portfolio loss estimates.\u201d<\/p>\n<h5>Download Case Study<\/h5>\n<p>Learn how Vave&#8217;s Analytics team used GIC imagery and data&#8211;including crucial insights they gleaned on building properties and features in relation to damage&#8211;to create a near on point loss estimation valuation by downloading the case study below.<\/p>\n<\/div><\/section><br \/>\n<\/p><\/div>\n<div class='flex_column av-2i0iew-3cc4c3c378bf84232ed243ef4c6ff330 av_one_fifth  avia-builder-el-11  el_after_av_three_fifth  avia-builder-el-last  flex_column_div column-top-margin'     ><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":15,"featured_media":15019,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[579,580],"tags":[193,175,658,221,223,659,201,640,184,660,661,610,662],"class_list":["post-14893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gray-sky-au","category-insurance-au","tag-aerial-data-au","tag-aerial-imagery-au","tag-case-study-au","tag-disaster-imagery-au","tag-hurricane-au","tag-hurricane-season-au","tag-insurance-au","tag-insurance-innovation-au","tag-location-data-au","tag-loss-estimate-au","tag-noaa-au","tag-property-insurance-au","tag-property-report-au"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Improving Loss Estimates: A Customer 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