Commercial insurance intelligence platform Fuse expands the scope of Watch, its real-time risk intelligence layer built for the entire insurance value chain.
Fuse announced the full rollout of Watch in April, launching a product built specifically for commercial insurance brokers and underwriters that plots every active hazard in the United States on a real-time map.
“Watch combines the world’s authoritative catastrophe data sources into a single workspace and works with a synchronized business ledger to calculate the Total Insured Value (TIV) of a risk at the time of each event – naming affected insureds, underwriters on those tiers and the total risk in the ledger in near real-time,” explains Fuse.
Notably, Watch spans 5 macro-regions and 22 sub-regions, covers 10 hazard categories, and integrates real-time information from 10 authoritative meteorological and seismic agencies, including the United States Geological Survey, NASA FIRMS, the National Weather Service, MeteoAlarm, Deutscher Wetterdienst, Japan Meteorological Agency, GeoNet, the Australian Bureau of Meteorology, Environment and Climate Change Canada, and the Global Hazard Warning and Coordination System.
Firth noted that commercial insurance has long operated through siled, region-locked catastrophe information.
The company continued, “A U.S. broker watching a typhoon approach a global manufacturing client’s factory in Japan historically needs three different tools—and even then, the data is rarely connected back to the account’s insured location.
“Watch was born to close this gap. Each incoming hazardous event is spatially intersected with each insurance location on the synchronized ledger using radius and polygon geometry. Within sub-minute latency for high-severity events, users can see exactly which clients are within the impact zone, which operators are on those tiers, and how many TIVs were exposed.”
Watch is now generally available in all five Fuse regions and is included in Professional and Enterprise tiers.
Professional and enterprise customers have full access to the portfolio coverage, alert rules engine and exportable reports, while the free tier offers limited regional coverage for evaluation.
Sean Bourgeois, founder and CEO of Fuse, concluded: “The industry has accepted opacity for too long. Brokers shouldn’t have to learn over the phone that their top ten customers are facing hailstorms. Carriers shouldn’t have to catalog the surge in claims from a spreadsheet.
“Reinsurers shouldn’t have to wait for quarterly cessions to know what happened to their accumulation. Observation is the layer that bridges these gaps – every part of the value chain has been addressing the same gaps for years.”
