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Ratings and Reviews 0 Ratings
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What is HurLoss?
HurLoss is ARA's sophisticated hurricane catastrophe model designed specifically for property insurers, reinsurers, brokers, and ILS managers to effectively manage risks in hurricane-prone areas. Established in 1998, HurLoss has been pivotal in shaping structural engineering standards in states affected by hurricanes and has played a key role in federal emergency management and mitigation efforts since 2003. The model offers an extensive event set that encompasses the entire North Atlantic basin, including regions like the U.S., the Caribbean, Bermuda, as well as parts of Canada, Mexico, and Central America. What distinguishes HurLoss is its unique physics-based approach to hurricane hazard modeling, which integrates engineering load and resistance analysis based on foundational principles and validated through claims data. Furthermore, the model includes projections for future climate scenarios, allowing users to assess risks with both present and future climatological data, such as changes in sea surface temperature and wind shear. This innovative perspective not only enhances risk assessment but also empowers stakeholders to develop robust hurricane risk management strategies that are adaptable to evolving climate conditions, ultimately ensuring a more resilient approach to disaster preparedness and response.
What is ClaimSuite?
The Whitespace Platform emerges as a distinctively digital solution specifically designed for the global (re)insurance sector. Contracts created and administered within Whitespace are composed entirely of data. By utilizing digital information for risk transfer rather than relying on conventional formats like Word or PDF documents, companies can fully harness the advantages of digital transformation. This transition paves the way for a multitude of opportunities, including improvements in speed, accuracy, accessibility, and a vast selection of detailed data for risk evaluation, which greatly advantages both Brokers and Carriers. Additionally, insurers are better equipped to meet client demands, as the digital interface allows for instant access to risk placements, faster payments, and swifter responses to claims. The entire process is meticulously backed by Whitespace, enabling brokers and underwriters to effortlessly generate risk submissions, work collaboratively on contract details, engage in real-time messaging, request and exchange quotes, and digitally finalize, sign, and endorse (re)insurance contracts, thereby boosting overall marketplace efficiency. Furthermore, this groundbreaking method not only simplifies operations but also cultivates stronger connections among all stakeholders involved, ensuring a more cohesive and productive industry environment.
Integrations Supported
Moody’s Risk Modeler
Oasis Loss Modeling Framework
API Availability
Has API
API Availability
Has API
Pricing Information
Pricing not provided.
Free Trial Offered?
Free Version
Pricing Information
Pricing not provided.
Free Trial Offered?
Free Version
Supported Platforms
SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux
Supported Platforms
SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux
Customer Service / Support
Standard Support
24 Hour Support
Web-Based Support
Customer Service / Support
Standard Support
24 Hour Support
Web-Based Support
Training Options
Documentation Hub
Webinars
Online Training
On-Site Training
Training Options
Documentation Hub
Webinars
Online Training
On-Site Training
Company Facts
Organization Name
ARA
Date Founded
1998
Company Location
United States
Company Website
www.ara.com/hurloss/
Company Facts
Organization Name
Whitespace Software
Company Website
www.whitespace.co.uk
Categories and Features
Categories and Features
Claims Processing
Adjustor Management
Case Management
Claim Resolution Tracking
Co-Pay & Deductible Tracking
Compliance Management
Customer Management
Electronic Claims
Forms Management
Paper-Based Claims
Payor Management
Policy Administration