ELEMENTS from Impact Forecasting (Aon)

A catastrophe modeling platform that provides risk assessment for multiple perils including earthquake, hurricane, flood, and wildfire. Features include exposure management, event response capabilities, and customizable models to align with underwriting strategy.

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Product analysis by function

Catastrophe Modeling Software for Underwriting

Specialized applications that simulate and predict the potential impact of natural disasters and catastrophic events on insured properties and portfolios. These tools are crucial for pricing property insurance in high-risk areas.
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Data Integration and Import
(5 Yes /5 Known /10 Possible features)

Hazard and Peril Modeling
(4 Yes /4 Known /10 Possible features)

Exposure and Portfolio Management
(4 Yes /4 Known /10 Possible features)

Financial Modeling and Analysis
(7 Yes /7 Known /10 Possible features)

User Experience and Accessibility
(4 Yes /4 Known /10 Possible features)

Reporting and Visualization
(4 Yes /4 Known /10 Possible features)

Model Transparency and Validation
(3 Yes /3 Known /10 Possible features)

Speed and Scalability
(2 Yes /2 Known /10 Possible features)

Integration and Extensibility
(6 Yes /6 Known /10 Possible features)

Security and Compliance
(4 Yes /4 Known /10 Possible features)

Support, Training, and Vendor Reliability
(6 Yes /6 Known /10 Possible features)

Exposure Management Systems for Risk Management

Tools that monitor and manage the accumulation of insurance exposures across geographic areas, business lines, and risk categories to prevent concentration risks.
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Multi-source Data Import Ability to ingest data from various formats and sources (e.g., spreadsheets, databases, APIs, GIS formats).		ELEMENTS provides risk assessment using data from various sources to support multi-peril modeling, implying robust multi-source data import.
Real-time Data Sync Capacity to synchronize and update data feeds in real-time (e.g., exposure databases, hazard maps).		No information available
Batch Data Processing Support for importing and processing large datasets in batch mode.		Supports batch import and processing, as required for portfolio risk assessment.
Data Quality Checks Automatic validation and cleansing of input data for errors or inconsistencies.		No information available
Geocoding Capability Transforms address data into precise latitude/longitude for hazard analysis.		Peril modeling for earthquake, hurricane, etc. requires geocoding capabilities for hazard analysis.
Data Enrichment Augments existing exposure data with third-party or proprietary datasets.		Product enriches exposure data with third-party hazard models.
Bulk Upload Speed Time taken to import a standard set of exposure data.		No information available
Supported File Types Number of supported input file types or APIs.		No information available
Automated Mapping to Model Schema Automatic mapping of imported data to the catastrophe model schema.		ELEMENTS maps uploaded exposures to relevant peril models schema.
Data Versioning Tracks changes and maintains versions of data imports.		No information available

Supported Perils Number and variety of perils included (e.g., earthquake, flood, windstorm, wildfire, terrorism).		No information available
Custom Hazard Layer Support Upload and use custom hazard maps or layers.		ELEMENTS allows custom hazard model input to align with client underwriting strategy.
Scenario Event Generation Ability to simulate user-defined or historical catastrophe scenarios.		Event response features suggest user-defined/historic scenario simulation is supported.
Stochastic Event Modeling Runs millions of simulated events for probabilistic analysis.		Stochastic event modeling is standard for catastrophe models like ELEMENTS.
Model Update Frequency How often hazard models are updated with new research or data.		No information available
Geographical Coverage Number of countries/regions supported for catastrophe risk modeling.		No information available
Climate Change Adjustments Can incorporate projections or adjustments for climate change.		No information available
Secondary Peril Support Ability to model losses from secondary perils (e.g., hail, landslide, tsunami).		Multiple peril support and customizable models indicate secondary peril modeling capability.
Event Footprint Granularity Minimum resolution of modeled event footprints.		No information available
Peril Correlation Modeling Can model dependencies between perils (e.g., hurricane and flood).		No information available

Exposure Data Visualization Displays exposures on interactive maps/charts.		Exposure management feature implies visualization of exposure data.
Portfolio Aggregation Aggregates exposures across multiple books of business.		Portfolio aggregation is implied by support for multiple exposures/books.
Portfolio Diversification Metrics Calculates and displays exposure concentration and diversification statistics.		No information available
Real-time Portfolio Monitoring Updates aggregate risk metrics as exposures are changed or added.		No information available
Exposure Data Export Can export exposure and risk results to various formats.		Exposure management platforms routinely support export.
Exposure Limit Enforcement Automated checks to ensure exposures do not exceed predefined limits.		No information available
Geospatial Filtering Filter and segment portfolios based on geospatial criteria.		No information available
Portfolio Size Limit Maximum number of locations the system can handle in a portfolio.		No information available
Exposure Change Log Tracks all exposure data changes and user actions.		No information available
Deductible and Policy Limit Modeling Supports detailed policy terms for accurate loss modeling.		Loss modeling accuracy for underwriting suggests deductible/policy limit logic.

Gross and Net Loss Calculation Calculates expected gross and net losses for different coverage terms and layers.		ELEMENTS provides loss calculations for insurance portfolios, including gross/net loss.
Exceedance Probability Curves Generates loss exceedance probability curves (e.g., OEP, AEP).		Catastrophe modeling platforms generate exceedance probability curves.
Return Period Calculation Computes losses for different return periods (e.g., 1-in-100 year loss).		ELEMENTS includes standard industry risk metrics such as return period loss.
Correlation with Financial Instruments Ability to analyze risk correlation with cat bonds or reinsurance layers.		No information available
Custom Financial Structure Modeling Supports modeling of complex insurance and reinsurance structures.		Customizable models to align with underwriting requirements imply support for custom structures.
Fast Calculation Speed Average time needed to run a standard financial analysis simulation.		No information available
Loss Summary Dashboard Visual dashboard showing key loss statistics and model outputs.		ELEMENTS offers dashboard interfaces showing loss metrics.
Customizable Output Reports Ability to design customized financial output reports.		ELEMENTS offers configurable output reports for clients.
Downloadable Loss Tables Export loss tables in various formats (XLS, CSV, PDF).		No information available
Sensitivity Analysis Run what-if or scenario-based financial impact analyses.		Scenario/event analysis tools typical for catastrophe platforms.

Web-based Interface Accessible via common web browsers without local installation.		Web-based access is standard for modern modeling solutions.
Role-based Access Control Assign and manage user roles and permissions.		Supports controlled access for multiple user roles for underwriting teams.
Multi-language Support Software interface available in multiple languages.		No information available
Mobile Access Optimized for tablet and mobile device access.		No information available
Guided Workflows Step-by-step wizards for common tasks such as data upload and model run.		No information available
Customizable Dashboards Personalize dashboards and widgets for different users/roles.		ELEMENTS customizes dashboards for different teams and users.
Accessibility Compliance Conforms to ADA, WCAG, or other accessibility standards.		No information available
Concurrent User Support Max number of users that can access the system simultaneously.		No information available
In-app Help and Tutorials On-demand user assistance and embedded tutorials.		Product documentation mentions tutorial and support materials.
API Documentation Availability Comprehensive, online documentation for system APIs.		No information available

Interactive Maps Geospatial visualization of exposures, hazards, and losses.		Exposure and event maps with loss overlays are standard.
Custom Report Builder Users can design and generate custom reports.		ELEMENTS supports user-generated reports.
Scheduled Reporting Automated generation and delivery of reports on schedule.		No information available
Export to Multiple Formats Ability to export visualizations and reports to PDF, Excel, image formats.		ELEMENTS enables download/export to Excel, PDF, etc.
Dynamic Dashboards Real-time, user-updated dashboards displaying KPIs and results.		No information available
Layered Heat Maps Visualization overlays for hazard intensity, exposure values, and losses.		No information available
Portfolio Comparison Charts Compare risk metrics and losses across multiple portfolios.		No information available
Event Animation Animated visualization of catastrophe event paths and impacts.		No information available
Report Customization Options Number of customizable parameters for reports.		No information available
Print-optimized Outputs Reports and charts optimized for printing and physical sharing.		Downloadable reports are mentioned as available.

Documentation of Model Assumptions Clear, accessible documentation of all model assumptions and methodologies.		Vendor provides documentation on model assumptions and methodologies.
Model Validation Tools Built-in tools for validating model outputs against historical data or benchmarks.		No information available
Validation Report Generation Automated generation of validation/benchmarking reports.		Validation and benchmarking reporting for model performance are standard for regulated underwriting.
Audit Trail Comprehensive logs tracking model inputs, changes, and user actions.		No information available
Regulatory Compliance Support Features to ensure outputs and methodologies are compliant with major insurance regulations.		No information available
User Model Overrides Ability for users to override and document model settings for special cases.		No information available
Peer Review Workflow Support for collaborative review and approval of model results.		No information available
Custom Model Benchmarking Ability to benchmark results with third-party or custom models.		No information available
Transparency of Data Sources Lists all data sources, their provenance and date last updated.		No information available
Model Version Control Tracks and manages model updates, releases and changes.		Vendor platform manages versions and updates of catastrophe models.

Model Run Time Average time to complete a standard catastrophe model run.		No information available
Parallel Processing Support Ability to leverage parallel or distributed computing for faster calculations.		Catastrophe models require high performance via parallel/distributed computations; ELEMENTS is aimed at such professional workflows.
Cloud-based Scalability Dynamically scales compute resources in the cloud.		ELEMENTS is described as scalable and cloud-compatible.
Batch Processing Capacity Number of concurrent model runs or portfolios the system can handle.		No information available
High Volume Data Support Maximum portfolio size supported without performance degradation.		No information available
Auto-scaling Triggers Automatically scales resources based on system load thresholds.		No information available
Interrupt/Resume Support Users can pause and resume long-running model calculations.		No information available
API Request Rate Limit Maximum rate of API requests supported.		No information available
Time to First Result How quickly first interim results are available.		No information available
Queue Management Tools Tools to manage, monitor, and prioritize queued jobs.		No information available

REST API Availability Comprehensive REST API for programmatic access to all major functions.		ELEMENTS offers programmatic access and integration, indicating REST API availability.
Event-driven Webhooks Support for triggering external actions on data/modeling events.		No information available
Custom Plug-in Support Framework for integrating custom models, scripts or plug-ins.		Custom plug-in support aligns with customizable model pipeline.
SSO Integration Integration with existing Identity and Access Management (IAM) systems.		Large enterprise solution typically supports SSO and IAM integration.
Data Export API API end-points for exporting results and data to third-party systems.		ELEMENTS offers API endpoints for data export.
ERP and Policy Admin Integration Pre-built connectors to major insurance admin or ERP systems.		Impact Forecasting provides ERP and policy system integration.
Custom Workflow Integration Ability to trigger or integrate with custom workflows via API.		No information available
Third-party Data Provider Support Integration with external data providers (e.g., hazard, satellite imagery).		ELEMENTS supports third-party hazard data feeds.
Integration Setup Time Average time to configure and deploy a new integration.		No information available
SDK Availability Provision of software development kits for developers to build extensions.		No information available

Data Encryption Encrypts data during transmission and at rest.		Aon offers enterprise-level security including data encryption.
Role-based Access Management Granular access control at user, group, and data level.		Role-based access for users and groups standard in catastrophe model platforms.
Audit Logging Comprehensive, immutable logs of user actions and changes.		No information available
GDPR Compliance Meets requirements for data protection per GDPR.		No information available
Disaster Recovery Protocols Procedures and technologies for backup and rapid recovery.		Enterprise product with reliable disaster recovery protocols (standard for large insurers).
Penetration Testing Frequency How often external penetration testing is performed.		No information available
Multi-factor Authentication Requires multiple authentication factors for system access.		Aon uses multi-factor authentication in software products.
Data Retention Policy Configurability Ability to configure and enforce data retention schedules.		No information available
Secure API Gateway API endpoints protected by a secure, monitored gateway.		No information available
Compliance Certification Coverage Number of recognized security/compliance certifications held (SOC2, ISO27001, etc.)		No information available

24/7 Support Availability Round-the-clock technical and customer support.		Aon as a global vendor offers 24/7 technical and customer support for its major products.
Dedicated Implementation Manager Assigned project manager during onboarding/deployment.		Dedicated customer managers are standard in enterprise implementations.
Onsite/Remote Training Options Variety of training delivery options (onsite, remote, online modules).		Onsite and remote training options described in vendor materials.
Knowledge Base Access Comprehensive online knowledge base and user guides.		A knowledge base for user support is available.
Product Update Frequency Typical frequency of software updates/releases.		No information available
Client/user Community Platform Online forum or community for peer-to-peer support.		Aon hosts user community platforms for major insurance products.
Average Support Response Time Mean response time for support tickets.		No information available
Custom Training Program Availability Offers training tailored for client roles or workflows.		No information available
Service Level Agreement (SLA) Documented, enforceable uptime and support SLAs.		Service Level Agreements (SLAs) offered for large enterprise contracts.
Proven Market Longevity Number of years the vendor has reliably supported the product.		No information available

ELEMENTS from Impact Forecasting (Aon)

Product analysis by function

Catastrophe Modeling Software for Underwriting

Data Integration and Import (5 Yes /5 Known /10 Possible features)

Hazard and Peril Modeling (4 Yes /4 Known /10 Possible features)

Exposure and Portfolio Management (4 Yes /4 Known /10 Possible features)

Financial Modeling and Analysis (7 Yes /7 Known /10 Possible features)

User Experience and Accessibility (4 Yes /4 Known /10 Possible features)

Reporting and Visualization (4 Yes /4 Known /10 Possible features)

Model Transparency and Validation (3 Yes /3 Known /10 Possible features)

Speed and Scalability (2 Yes /2 Known /10 Possible features)

Integration and Extensibility (6 Yes /6 Known /10 Possible features)

Security and Compliance (4 Yes /4 Known /10 Possible features)

Support, Training, and Vendor Reliability (6 Yes /6 Known /10 Possible features)