News

HazardHub and Bold Penguin Announce Partnership

HazardHub, the USA’s fastest-growing supplier of geospatial risk data, a 2020 Gartner Cool Company, and 2020 Lloyd’s Lab participant – announces a strategic alliance with insurtech leader Bold Penguin. The alliance allows for HazardHub to supply Bold Penguin with point-of-sale peril and property data to both speed and sharpen the risk evaluation process.

John Siegman, CCA of HazardHub says, “There is a sea-change of innovation in the commercial insurance market, fueled by innovation to make the process both faster and better. Bold Penguin has been leading the charge. We’re incredibly excited to be a key supplier that will continue Bold Penguin’s foray into the commercial space.”

Currently, far too many commercial policies do not consider the impact of peril data on rates, as the process has been too expensive to economically implement.

HazardHub launches an industry-first Catastrophic Flood Model

HazardHub, the USA’s fastest-growing supplier of geospatial risk data, a 2020 Gartner Cool Company, and current Lloyd’s Lab participant – announces the release of a major advance in flood modeling with the release of the HazardHub Enhanced Flood Model and the HazardHub Catastrophic Flood Model. Insurers, property specialists, and municipalities can now see what happens when catastrophic, soaking rains hit any part of the United States.

Dr. Brady Foust, Ph.D. and HazardHub’s Chief Scientist explains, “For the longest time, insurers, business owners and consumers have been vexed by one question – why is my supposedly safe property now underwater? Part of the reason is that current flood models are meant to strike a balance between obvious flood risk and the desire to build property – these models ignore the impact of climate-driven, sustained, catastrophic precipitation.

HazardHub Celebrates July 1 – National Hazard Awareness Day

SAN DIEGO, CA – July 1^st is National Hazard Awareness Day. The purpose of this day is to understand the hazards that are around your property and properly take the steps to mitigate them. As we all know, an ounce of prevention is worth a pound of cure.

John Siegman, CCA of HazardHub, says “For too long people have been kept in the dark about the perils that can impact their property – both for consumers and for business owners. HazardHub is dedicated to making sure that everyone knows the risk to their property so they may take the steps necessary to protect their property. Rebuilding from a peril is awful – you lose far too many belongings and memories. By knowing more about the risk to your property, you might be able to save some of those precious belongings.”

HazardHub develops the first national LUST database (Leaking Underground Storage Tanks)

SAN DIEGO CA – HazardHub, the USA’s fastest-growing supplier of geospatial risk data and a 2019 Insuretech 100 company – announced that they have developed the first ever national database of Leaking Underground Storage Tanks (LUSTs). Insurers and property specialists can easily see both the closest LUST and the number of leaking tanks within a quarter-mile of nearly any location in the United States.

Rachel Revolinski, Senior GIS Specialist for HazardHub says, “We are very excited to release the latest update to our Underground Storage Tank (UST) database that now includes whether the tank was ever flagged as leaking. We initially started with each locale’s tank data, then spent a massive amount of time cleaning, compiling, and standardizing the tank data. The result is the only national, comprehensive database of LUST (Leaking Underground Storage Tanks).”

New Data Release – April 2020!

The COVID-19 epidemic has given us even more time on building new and (we hope!) interesting data for our customers.

Today, we’ve added a number of new datasets, as well as updated some existing data. It’s the first wave of several – we’ve got a lot coming down the API pipe over the next several weeks.

Snow Load – A vexing issue among our clients with cold weather exposure is sudden roof collapse when snow occurs. Our Snow Load determines the risk of a property suffering structural roof failure due to snow load. Snow load operates on a 1-10 scale and is also accompanied by HazardHub A-F grades. If you’re concerned about catastrophic snow load, this is the variable for you. Here’s how it looks in the API return –

5 Hurdles to Insurtech Success

We like to joke that we started an insuretech because we wanted to make money as slowly as possible. It’s a funny, yet exceedingly painful, joke.

We were asked recently to discuss issues that Insurtech companies face in becoming successful. We came up with 5 things that stand between insurtechs and success. Here they are but please note – your mileage may differ.

1) The Maths – All Insuretechs have one super-challenging math equation to overcome –

Risk = Bad

Insuretech = Risk

Therefore, Insuretech = Bad

Insuretechs are busy trying to make themselves more inventive. Which only makes them riskier. As this equation shows us, that’s a bad thing. Much more attention needs to be paid to how Insuretechs can de-risk themselves and make it easier for insurance professionals to rely on them.

HazardHub adds more than 225,000 fire hydrant locations to HydrantHub in January, approaching 11 million hydrant locations

SAN DIEGO CA – HazardHub, the USA’s fastest-growing supplier of geospatial risk data and a 2019 Insuretech 100 member – announced that they have added over 225,000 fire hydrant locations to HydrantHub, the nation’s largest collection of known fire hydrant locations. HydrantHub now stands on the edge of its 11 millionth hydrant location.

Michael Jolitz, Chief Technology Officer of HazardHub says, “Our teams have worked tirelessly to add new and verified hydrant locations to the HydrantHub database. Every day, we’re mapping hydrant locations for places both large and small. Our goal is to map every hydrant in the country.”

The latest update included data from 41 states, with particular emphasis on the states of New York, New Jersey and Louisiana.

Accurate hydrant locations are a critical factor in helping to suppress the risk of a house fire.

HazardHub Named to the InsurTech 100 list of the world’s most innovative companies

SAN DIEGO, CA – HazardHub is delighted to announce their inclusion to the 2019 Insuretech 100 – a listing of the world’s most innovative Insuretech companies. The InsurTech100 for 2019 is announced by FinTech Global, a specialist research firm.

John Siegman, CCA of HazardHub says, “We are thrilled to be added to the InsurTech 100 list. From the beginning days of HazardHub, our goal has been to constantly invent new and more accurate data tools for our clients to appropriately judge risk. The InsurTech 100 recognition tells the world what our clients already know – if you want inventive, cutting-edge data, there’s really only one place to go. That’s HazardHub.”

The Insurtech (insurance technology) industry has seen huge growth in the last two years as insurance companies grapple with the challenges of digital transformation and new demands from customers.

HazardHub Announces Property Fire Score – the first ever tool to measure the fire severity risk of an individual property

HazardHub, the nation’s fastest-growing supplier of geospatial risk data, is excited to announce the release Property Fire Score (PFS), the first system ever to measure the risk of fire for an individual property.

Brady Foust, Chief Scientist of HazardHub says, “We’ve spent the last 18 months diving into the factors that impact the severity of fires at a specific property. We’ve examined thousands of fires and hundreds of variables to determine that fire damage of a property is impacted by three powerful factors – drive time to the nearest station, the type of responding station and the presence of accessible water. PFS is the first tool to measure risk at the property level. No more ‘one size fits all’ area-level measurements.”

Property Fire Score leverages the power of two databases unique to HazardHub – a national Fire Station Database of over 55,000 stations and HydrantHub,

HazardHub Launches Desktop AgentRiskViewTM Product at Agency Connect InsureTech Event

SAN DIEGO CA – HazardHub, the nation’s fastest-growing supplier of geospatial risk data, is excited to announce the release of the first of its kind SaaS risk delivery product for agents, underwriters and anyone else interested in fast, accurate hazard risk and property data.

John Siegman, CCA of HazardHub says, “We get more than 1,000 visitors to our website every day, looking up data one record at a time for our Distance To Fire Station, Distance to Hydrant, Distance to Shore, Elevation and Flood tools. We saw that many of these users were insurance agents, CSRs and underwriters. These same users were clamoring for an easy to use subscription product that would deliver all of the data they wanted for an address. To meet the demand, we developed AgentRiskViewTM.”

AgentRiskViewTM provides fast and easy access to HazardHub’s incredible collection of powerful data tools,