Catastrophe data aggregator PERILS AG has expanded its real-time industry loss forecasting software tool, known as Wind-Jeannie, to cover typhoon events in Japan and has also updated the existing loss forecasting tools for Europe and Australian perils., to provide forecasts of potential insurance or reinsurance industry losses from European windstorms as they approached the continent., then in 2021 it was also expanded to include severe hail storm loss events in Australia, under the Hail-Jeannie name.PERILS said that its new extension of Wind-Jeannie will provide real-time industry loss forecasts for typhoons in Japan.

These industry loss forecasts for typhoon events in Japan will be available for the upcoming 72 hours, and are updated in real-time every 12 hours.The platform provides footprints of predicted wind gusts and potential resulting insurance market losses, using gust forecasts from the European Centre for Medium-Range Weather Forecasts (ECMWF).In addition, users of the Japan typhoon industry loss forecast service can also download gust data and industry loss footprints at the municipality (“Kushichōson”) level for further analysis.

The tool is designed to help insurance and reinsurance companies prepare for large wind events, providing insight into the expected severity of an event and potential magnitude of an insurance industry loss before it even occurs.Today, PERILS also announced an update to the loss calculation engines of all Jeannie tools, incorporating data from the latest wind and hail events across covered regions.Takashi Goda, Japan Representative at PERILS, stated, “As we enter the peak typhoon season, Wind-Jeannie Japan provides a welcome new perspective on typhoon risk in Japan.

It offers multiple benefits to users such as enhancing the ability to understand the potential impact of a typhoon ahead of an event and helping insurers prepare the necessary resources to respond quickly and effectively to assist those affected.” Christoph Oehy, CEO of PERILS, added, “Our Jeannie tools are designed in a similar way to weather forecast platforms.The information is instantly accessible and easy to understand, whether you use a smartphone, tablet or laptop.Users can also set up email alerts for wind and hail events in excess of a defined industry loss level to remain continuously up to date.

In our view, the Jeannie tools are testimony to the value of PERILS exposure and loss data and the innovation it can drive, while demonstrating our continued commitment to pioneering solutions that provide greater data insight into catastrophe events.” Readers may recall that back in 2021, , but so far no product launch has been announced.Granular insights into impending catastrophe industry loss events are critical to insurance, reinsurance and insurance-linked securities (ILS) market constituents in helping to understand the potential severity of any losses their portfolios may suffer..All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance can be accessed online.

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