In this episode, Jencap Director and certified catastrophe modeler, Bruce Norris delves into the intricacies of catastrophe modeling with our host, Kathryn Smith. With decades of experience in catastrophe analysis and technology, Bruce sheds light on the fundamentals of CAT modeling, explores the nuances of PML and AAL, and how a model's data impacts insurance outcomes. Episode Highlights: 9:24 How Bruce's backpacking hobby led to sightings of his spirit animal 10:49 Revealing the "favorite failure" that paved the path to Bruce's biggest success 16:33 Understanding CAT modeling and its crucial role in the insurance industry 18:46 Breaking down PML and AAL 20:45 Why the model and carrier pricing aren't always in sync 22:42 What factors are influencing the data in the model? 25:05 The importance of quality and well formatted data 27:02 The relationship between ITV and CAT modeling 28:26 Jencap's property team advantage Learn more about Jencap's expansive property capabilities at https://jencapgroup.com/custom-solutions/property/

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