GRA · Finance and insurance readiness
Spatial financeWhere capital meets hazard, exposure and transition
Insurance readiness
Much hazard loss is uninsured, and often nobody can say how much or why. The Global Risk Alliance (GRA) has designed an insurance readiness service for insurers, reinsurers and public authorities. It maps exposure, existing cover and data gaps, and sets out the questions an external market would ask. Never underwriting, placement, broking or a price. It promises no cover. Part of Finance and insurance readiness.
Insurance readiness on the record.
- 01InstitutionThe Global Risk Alliance (GRA)
- 02The serviceProblem, work, and what each side brings
- 03Underwriting dataWhat an insurer would ask for first
- 04Capital viewHow the cover would be read by a supervisor
- 05External market questionsWhat an insurer would need to know
- 06BoundaryReadiness stops before the market
- 07Public authoritiesWhy the uninsured share matters to the public
Problem, work, and what each side brings.
| Element | As designed |
|---|---|
| For | Insurers, reinsurers and public authorities |
| Problem | Much of the loss from hazards is uninsured, and nobody can say how much or why |
| Work | Map exposure, existing cover and data gaps |
| You receive | An exposure and protection-gap note that separates measured, estimated and unknown losses |
| You contribute | Exposure and portfolio data within your rights |
| Never | Underwriting, placement, broking or a price for cover |
What an insurer would ask for first.
| Data | Standard or source | Why it matters |
|---|---|---|
| Exposure schedule with location, construction, occupancy, year built and height | Open Exposure Data (OED) format used with Oasis | Primary modifiers drive vulnerability and therefore modelled loss |
| Historical losses by event | Owner records; EM-DAT and national loss databases as context | Calibration and credibility of the loss estimate |
| Hazard layers with return periods | Public hazard models and national maps | Basis for frequency and severity assumptions |
| Risk reduction measures in place | Engineering records | Whether mitigation can be reflected in terms |
How the cover would be read by a supervisor.
An insurer accepting the risk will hold capital against it under Solvency II, the Insurance Capital Standard or a local regime, and measure the contract under IFRS 17. Its question is therefore not only expected loss but the tail: what the cover adds at the 1-in-200 point of its own exceedance curve. GRA prepares the exposure and hazard evidence that lets an insurer answer that question itself. Specialist work continues at Insurance Nexus and Actuarial and Quantitative Risk.
What an insurer would need to know.
- 01
Exposure
What is at risk, where, at what value, and how reliable is the register?
- 02
Hazard and vulnerability
Which hazard models apply, with what local damage functions and uncertainty?
- 03
Accumulation
Where could one event, or one shared provider, trigger losses across many policies at once?
- 04
Existing cover
What is already insured, by whom in aggregate, and where cover has been withdrawn?
- 05
Data
What loss history and claims data exist, and what cannot be shared?
Readiness stops before the market.
No price, no terms
GRA never sets, suggests or discusses premiums, rates or coverage terms.
No broking or placement
GRA does not sell, solicit, negotiate, place or broker cover, and introduces no insurer.
Aggregated data only
Data from competing insurers is aggregated so that no firm can be identified.
Related: Protection gaps and the professional community at Insurance Nexus.
Where this page's references lead.
The bodies and documents this page is read against. Status and editions change; each link goes to the issuing body.
- Oasis Loss Modelling Framework (open-source catastrophe modelling)
- Solvency II Directive 2009/138/EC as amended by the 2025 review (apply from 30 January 2027)
- IAIS Insurance Core Principles and ComFrame, including the Insurance Capital Standard (adopted December 2024)
- IFRS 17 Insurance Contracts
- EM-DAT international disaster database (CRED)
- Nexus Standards: insurance and reinsurance
Questions and answers.
Can GRA arrange insurance for a programme?
Can insurers share data with GRA without competition concerns?
Who uses an exposure and protection-gap note?
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