Two insurance businesses are applying their jointly created Blackout Risk Model to keep residents apprised of potential weather-related utility problems following Hurricane Matthew.
New Jersey’s Verisk Insurance Solutions and Connecticut-based Hartford Steam Boiler Inspection and Insurance Company (HSB) built the platform to address the needs of utility consumers in Florida, North Carolina, South Carolina and Georgia, as well as adjoining states in the Mid-Atlantic and Southeast at risk of blackouts following the storm.
The technology combines weather data, satellite analysis of vegetation bordering power lines, access to electric infrastructure knowledge and information on economic and demographic conditions for affected areas to deliver advance warnings for power interruption as well as keep residents updated as conditions change.
Tory Farney, Verisk’s head meteorologist, and HSB Group Vice President Robin Luo established the model utilizing their respective backgrounds in atmospheric science and statistics, finance and electrical engineering.
Farney oversees scientific data analysis for Verisk Insurance Solutions’ clients including insurers, manufacturers and distributors, focusing on forecasting for severe weather incidents.
Luo, who primarily created the Blackout Risk Model, has served in various capacities utilizing risk modeling, catastrophic risk management, underwriting and reinsurance.
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