Cohort: Cohort 5, 2020
Focus in insurance value chain/workflow: Point of underwriting
Specific lines of business supported: Personal, Corporate, SME
Founded: 2016
Status: Operating, still in insurance - division of Guidewire Software, Inc
Company type: Data provider
Head office: North America
Main global offices: USA
Locations served: USA
Employee count: 1001+
HazardHub informs insurers if a commercial or residential property risk is high or low in seconds. The company provides key attributes such as property use code, year built and square footage. It also offers hazard data and scores for a wide range of perils including flood, subsidence, earthquake and wildfire.
Primary way aimed to improve insurance processes and tools whilst in the Accelerator: New sources of Risk Insight - Data or Models.
HazardHub was able to access data from 23,000 claims from Managing Agents that it used to verify its product offering. The Lab helped to prove the value of HazardHub models when assessing hurricane, wind and storm surge risks. This proof has allowed syndicates to quickly and accurately assess the risk for any existing or prospective book of US property business.
“The Lab was a fantastic partner in the London market and super-accelerated our success and eventual exit!”Bob Frady, Vice President
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