EigenPrism

EigenPrism is a cloud-based (SaaS) catastrophe risk management platform from EigenRisk, an insurance technology firm in Ann Arbor, Michigan. It is built for (re)insurers, MGAs, brokers, corporate risk managers and disaster management firms that need to know which of their locations an earthquake, windstorm, flood, wildfire or other event will affect, without rebuilding spreadsheets for every event.

Users load exposure data such as schedules of assets, contract terms, insurance portfolios and supply chain networks, then analyse it against hazard data and models from more than 40 partners and public sources. Satellite inputs are part of that library. NASA data is included in the real-time flood, wildfire and earth-movement feeds. ICEYE's SAR-based flood insights (near-real-time flood extent footprints and building-level flood depth), added in 2022, are available to ICEYE subscribers as an add-on, and EigenRisk and ICEYE have demonstrated using ICEYE footprints with location and financial data to assess damage from Hurricane Milton. WMS satellite imagery supports post-event work. EigenRisk's GPU-based EigenRACE engine runs deterministic scenario, damage and financial models in sub-seconds, so loss estimates reflect deductibles and limits rather than insured values alone.

The platform sends automated alerts by email and through the EigenAlert mobile app when user-defined thresholds are breached at specific locations. It also offers APIs for data management, alerts, underwriting moratoriums and portfolio impact. Swiss Re Corporate Solutions used these APIs from 2020 to deliver catastrophe alerts in its PULSE client portal, with 3,800 alerts in 12 months. Named users include Lockton, Arthur J. Gallagher, Velocity Risk Underwriters and Alesco. EigenPrism won a 2016 Business Insurance Innovation Award, and EigenRisk is ISO 27001 certified. It also publishes Zip Response, a free browser tool that lists the ZIP codes most affected by active events.