Whatever challenges the markets and business partners may pose for wholesalers, technology companies are coming up with solutions. Of particular interest to E&S and specialty lines players is the latest crop of catastrophe modeling tools.
Indeed, the subject of cat modeling "has come up a lot in working with Lloyd's to get a better idea of the terrain of risk," according to Mike Ardis, director of communications and technology for the National Association of Professional Surplus Lines Offices.
"It's useful in helping to determine whether or not you're overexposed in any particular area," he noted. "I believe that [in past years], without these tools, people just didn't have a good idea of the extent to which they were overexposed, such as with the hurricane and earthquake activity."
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