Risk Analytics for Estimating and Validating Magnitude of Earthquake Losses

The support for data ingestion and data integration from multiple data sources for rapid loss estimation and visualisation is highly desirable in post-event catastrophe modelling systems. In this paper, the design and development of a distributed system for real-time estimation and visualisation of...

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Bibliographic Details
Main Authors: Astoul, A., Filliter, C., Rau-Chaplin, A., Shridhar, K., Varghese, B., Varshney, N.
Format: Conference Proceeding
Language:English
Subjects:
catastrophe losses
Cities and towns
Data visualization
Earthquakes
Estimation
Hazards
Portfolios
rapid data processing
rapid loss estimation
Real-time systems
validation technique
Online Access:Request full text
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Description
Summary:The support for data ingestion and data integration from multiple data sources for rapid loss estimation and visualisation is highly desirable in post-event catastrophe modelling systems. In this paper, the design and development of a distributed system for real-time estimation and visualisation of insured losses incurred due to earthquakes is presented. The system incorporates a model for estimating losses due to earthquakes in near real-time and a geo-browser for visualisation of hazard, exposure and loss data. Preliminary validation of the system is performed using as test cases six global earthquakes and their associated industry loss data. The key result is that the system can generate reasonable order of magnitude estimates with limited data.
ISSN:1529-4188
2378-3915
DOI:10.1109/DEXA.2013.9