Ivan Maddox is a geospatial engineer who for 20 years has been solving problems with location-based solutions for a variety of industries, including geophysical, governmental, telecommunications, and, now, insurance. Maddox has worked in over 30 countries, and brings a panoramic perspective to building solutions. In addition to maps and spatially-innovative software, Maddox enjoys walking up and sliding down the mountains of Colorado.
Over the past year, flood insurance has become more apparent in the media and trade publications. Normally, only catastrophic events (i.e. hurricanes) capture so much attention, but the combination of some massive floods and the continued progress of private flood legislation has started conversations that are overdue. Both the nature of these storms and floods, […]
With our past few posts on ITL, we have been exploring how insurers can continue to bring more private capacity to U.S. flood (Note: Everything we talk about for U.S. flood is also relevant for Canada flood). We have explored here how technology, data and analytics exist to handle flood in an adequately sophisticated manner, […]
Recently, Munich Re announced its plan to step into the U.S. inland flood market to offer a competitive flood coverage endorsement for participating carriers. This is the second notable entry of international capital into an arena dominated by the federal government. Munich Re is known as a conservative giant of international reinsurance, so it might […]
“Baseball is a game of inches” – Branch Rickey Property damage because of flooding is quite different from any other catastrophic peril such as hurricane, tornado or earthquake. Unlike with those perils, estimating losses from flood requires a higher level of geospatial exactness. Not only do we need to know precisely where that property is located […]