#United States #FEMA #Orem, Utah #Smarty #Risk Data

Smarty Enhances Risk Assessment with Innovative Address-Level Hazard Intelligence

Introducing Smarty's US Property Risk Data

In an era where natural disasters are becoming more frequent and severe, having access to accurate and timely risk data for properties is vital. Smarty, a prominent address intelligence company based in Orem, Utah, has just unveiled its groundbreaking US Property Risk Data product, which turns FEMA's National Risk Index into actionable insights at the address level. This innovative solution aims to empower insurers, lenders, and real estate platforms by providing necessary tools to model risk effectively.

The Need for Timely Risk Data

The backdrop for this advanced API-based offering is alarming: insured losses in the United States reach an astonishing average of over $151 billion annually due to natural hazards. Although the need for quick and reliable risk modeling is evident, accessing FEMA's data often proves to be a complex, cumbersome process. Typical methods involve bulk downloads and manual data preparation, a scenario not ideal for businesses operating under the pressure of urgency.

Smarty’s new product eliminates these complications. With just a single API call, users can gain immediate access to integration-ready hazard data, streamlining the entire risk assessment process.

Comprehensive Hazard Intelligence

Smarty’s API offers more than 465 data fields drawn from FEMA's National Risk Index, encompassing 18 different natural hazards. This extensive array of data includes:

- Fire Hazards: such as lightning and wildfires
- Weather-Related Hazards: including cold waves, droughts, hurricanes, and tornadoes
- Water-Related Hazards: like coastal flooding and tsunamis
- Geological Hazards: such as earthquakes and landslides

In addition, the API provides economic and population data, geographic identifiers, and community resilience scores, offering a holistic view of risks associated with each property. This comprehensive dataset helps insurers quickly assess risks and underwrite policies with greater accuracy.

Enhanced Workflow Efficiency

As Brent Francom, Smarty's Director of Product Management, highlights, the core challenge involves making FEMA data queryable at an individual property level. By effectively pre-computing hazard profiles for every address in the U.S., Smarty ensures that users only need to make one API call to obtain all necessary information for high-level risk assessments.

This seamless integration enables companies to embed FEMA risk intelligence into various operational workflows—from pricing models to eligibility rules and investment analyses—without the burden of custom development.

Transforming Insurance Processes

The advantages of this new product are particularly evident in the insurance sector. By enabling rapid identification of high-risk properties during application intake processes, Smarty’s technology can drastically enhance operational efficiency. What once took weeks can now occur in mere milliseconds, significantly speeding up the underwriting process.

Furthermore, the product includes SmartyKey®, a unique identifier that facilitates deduplication, data enrichment, and other essential operations, making it especially beneficial for insurance and insurtech applications.

Availability and Flexible Pricing

Smarty’s US Property Risk Data is now available for purchase with adaptable pricing structures based on API usage, or interested parties can take advantage of a 42-day free trial. This initiative represents the latest addition to Smarty's suite of address intelligence tools, which are already widely implemented across various sectors, including address verification and rooftop geocoding.

About Smarty

With a focus on processing billions of addresses daily with unmatched accuracy, Smarty simplifies the complexities associated with location intelligence. Its offerings cater to numerous businesses, from small enterprises to Fortune 500 giants, relying heavily on cloud-native APIs and integrations. To learn more about this innovative solution, visit their website at smarty.com.

Additional Resources

For more information about Smarty's US Property Risk Data product, check out:

In conclusion, Smarty's latest product is poised to revolutionize how companies assess property risk, respond to natural hazards, and ultimately safeguard against potential losses, heralding a new era of data-driven decision-making in the insurance industry.