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What is SmartResilience?

SmartResilience is a cloud-enabled platform specifically developed for managing climate-related risks, addressing the requirements of sustainability, compliance, risk management, and operations teams responsible for businesses and asset portfolios spread across various locations. The system assesses an array of physical hazards, including floods, heatwaves, winds, droughts, and surface water conditions, by correlating these risks to specific geographical areas, thereby generating hazard scores and evaluating financial vulnerabilities across a spectrum of climate scenarios in both present and forthcoming contexts. By facilitating the analysis of annual losses at each site, modeling costs linked to infrequent events, and assessing adaptation tactics based on their return on investment, teams can produce customized outputs suitable for disclosure needs. Moreover, SmartResilience incorporates continuous monitoring that provides tailored weather alerts for specific sites, tracks incidents and the associated responses, and supplies portfolio summaries, which enable teams to prioritize their risk mitigation strategies, assess potential new sites, engage with insurers, and plan resilience investments effectively. Additionally, a free checker tool allows for a rapid regional evaluation, while the premium version of the platform is recognized for offering detailed asset-level analysis, continuous monitoring, and extensive planning resources for its users, enhancing their decision-making capabilities. This comprehensive dual approach not only empowers organizations to adeptly navigate their climate-related risks but also significantly boosts their overarching sustainability initiatives, ensuring a proactive stance in an increasingly unpredictable environmental landscape.

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.

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Media

Integrations Supported

Ordnance Survey

Integrations Supported

Moody’s Risk Modeler
Oasis Loss Modeling Framework

API Availability

Has API

API Availability

Pricing Information

Enterprise pricing is available on request.

Pricing Information

Pricing not provided

Supported Platforms

SaaS

Supported Platforms

SaaS

Customer Service / Support

Not specified

Customer Service / Support

Standard Support
Web-Based Support

Training Options

Not specified

Training Options

Documentation Hub
On-Site Training

Company Facts

Organization Name

SmartResilience

Date Founded

2019

Company Location

United Kingdom

Company Website

www.smartresilience.com

Company Facts

Organization Name

ARA

Date Founded

1998

Company Location

United States

Company Website

www.ara.com/hurloss/

Categories and Features

Climate Risk

Not specified

Risk Management

Not specified

Categories and Features

Climate Risk

Not specified

Reinsurance

Not specified

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