FLAMES
The AAIS Risk Strategy team is focused on translating the latest science, data, and insights on fire losses and catastrophic perils into actionable products and services for our Members. In particular, they spearhead the development and expansion of AAIS’s FLAMES initiative.
FLAMES (Fire Loss and Mitigation Evaluation Score) is a novel approach to rating modern public fire protection. Legacy public fire protection rating methodologies are based upon century-old assumptions that limit modern insurers’ ability to accurately select and price risk. Non-cat fire claims continue to be a substantial driver of losses, with more than $25 billion in losses annually, impacting businesses, families, and insurer bottom lines nationwide. FLAMES challenges those legacy assumptions and chips away at those persistent losses by turning the focus from counting response equipment to evaluating mitigation effectiveness.
Fire Loss Modeling
Building upon our existing filed approach, we are expanding and enhancing our fire loss model countrywide to give insurers a more granular and accurate understanding of fire losses.
Mitigation Evaluation
We are developing an innovative methodology for evaluating local mitigation efforts where they are the most effective: at the local level. This approach will provide insurers and communities with important insights about the effectiveness of local mitigation programs and services in a market constantly disrupted by ever-increasing losses.
Risk Catastrophe Planning Resources
As part of our wider effort to help reduce the impact of losses to communities and balance sheets, AAIS has developed a series of resources to learn the latest science and best practices related to various catastrophic perils. These curated resources are equally suited for experienced insurance professionals trying to learn the intricacies of these growing exposures as they are for those entering a new profession and trying to get up to speed on the latest insights.
Hurricane Resource Center
The Hurricane Resource Center provides Catastrophe Planning information and more resources to help insurers prepare for and navigate hurricane risks.
Wildfire Resource Center
The Wildfire Resource Center provides a Knowledge Hub to help insurers be better prepared to take a more nuanced view of wildfire risk selection and pricing.
Your Risk Strategy Team Leaders
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Matt Hinds-Aldrich, PhD
Senior Risk Strategy LeadDr. Matt Hinds-Aldrich, or “Dr. Matt,” has led a number of national initiatives and...
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Sara Wood
Product Owner, Actuarial DataSara is best known for her expertise in the collection, analysis, and use of data in the fire service....
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Will Spurgin
Senior Statistical ModelerWill joined AAIS in June 2022. He has a background in alternative investment research, previously...
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All AAIS product and service team leaders are backed by a robust internal team of experts consisting of experienced data engineers, actuarial specialists, legal counsels, and much more. Contact a team leader to find out how to reach your full potential by leveraging all AAIS resources.
Discover how AAIS Risk Strategy Services delivers customized solutions that meet your needs!