The Catastrophe Loss Analysis System Designed for Insurance Companies and Facultative Reinsurance Underwriters

CLASIC/2 is the premier interactive desktop underwriting system for the assessment and management of catastrophe risk. Its flexible, intuitive software interface, the ability to support a wide variety of detailed risk information, and extensive detailed output combine to make CLASIC/2 the tool of choice for companies who need to accurately assess risk down to the individual location level.

Designed to analyze risks at the location (i.e., geocode) level, CLASIC/2 takes full advantage of risk-specific structural details, occupancy, age and height, locational characteristics, such as site-specific geographical and geological information, and insurance policy and reinsurance treaty terms. This translates to better information with which to support risk selection, underwriting, and pricing decisions. Catastrophe risk managers will also appreciate the efficiency with which total portfolios of property exposures (by department, division, region, etc.) can be analyzed.

CLASIC/2 provides full probability distributions of annual aggregate and occurrence losses broken down in a wide variety of ways, including by location, policy, insurance layer, reinsurance layer, total portfolio, region, and event. Results of a single analysis can be viewed ground-up, gross and net.

To facilitate the most accurate and efficient risk analyses, CLASIC/2 includes AIRGeocode Express, AIR’s proprietary geocoding facility. The best assignment of a risks location allows CLASIC/2 to make full use of the high-resolution geographical (e.g., land use/land cover, elevation, topography) and geological information embedded in AIR hazard models in estimating damage to an individual risk. Also included is AIR’s proprietary AIRMap Express, which provides rich map views of risks at the individual location level or aggregated to postal codes, counties, states, and countries.