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Earthquake Preparedness Action Plan

Parametric Insurance Startup: Earling

Earling, the a leading provider of short-term natural disaster risk systems, has the potential to impact both risk takers, such as insurance companies, and risk owners, including enterprises and small to medium-sized enterprises (SMEs), in the context of parametric insurance.

Impact on Risk Takers (Insurance Companies)

1. Data-Driven Underwriting: Earling's technology can provide insurers with accurate and timely seismic data, enabling them to underwrite parametric insurance policies more effectively[2][3].

Parametric Insurance Definition

In recent years, the insurance industry has witnessed a paradigm shift with the introduction of innovative products designed to offer more efficient and tailored coverage to individuals and businesses. One such innovation is parametric insurance, a concept that is gaining traction due to its unique approach to risk management. In this blog post, we'll delve into the definition of parametric insurance, its key features, advantages, and potential applications.

New zealand earthquake modeling

In New Zealand, a region prone to seismic activity due to its location along the Pacific Ring of Fire, advancements in seismic risk modeling play a critical role. The complex tectonic setting necessitates a comprehensive approach, considering factors such as fault lines, historical seismicity, and future event potential. Accurate seismic risk modeling empowers authorities, businesses, and individuals to implement effective preparedness measures, enhancing resilience against potential earthquakes.

Japan Short-term Earthquake Risk Models

Short-term seismic risk models are ultimate solution for predicting and mitigating the impact of earthquakes in the region. Our models have proven their accuracy by accurately detecting high-risk seismic time-windows for several major earthquakes in the past, including the 7.3 magnitude earthquake that struck Fukushima on 03/16/2022, the 7.0 magnitude earthquake that struck Honshu Island on 03/20/2021, the 7.1 magnitude earthquake that struck Fukushima on 02/13/2021, the 6.4 magnitude earthquake that struck Niigata Prefecture on 06/18/2019, and the Hokkaido earthquake on 09/05/2018.

Earling short-term seismic risk models vs traditioinal earthquake early warning systems

Business Overview 

The short-term seismic risk models developed for Japan have the potential to greatly improve the government, business, and individual responses to major earthquakes. By issuing alerts a few days in advance, instead of just seconds, these models provide valuable extra time for people to prepare for an impending earthquake.