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/

Tune into a special edition of Flip the Cap where Kathryn Smith sits down with John Jennings, Jencap CEO, as he shares insight into his early days in the industry and the pivotal moments that led to the creation of Jencap. In this episode, Jennings unveils the strategies fueling Jencap's growth, the secret to successful M&A integrations, and interesting predictions for the insurance industry in 2024. Don't miss this insider's view into Jencap's past, present, and future.

Episode highlights include:

• The Beginning of John Jennings’ Insurance Journey 1:32-2:28

• Adventures On the Green & Off the Beaten Path 3:12-3:53

• Greatest Accomplishments with John Jennings 3:54-4:46

• John Jennings’ Formula to Success 4:46-5:52

• Why should someone consider insurance as a career? 6:00-7:31

• Learn about the events leading to Jencap’s launch 9:16-11:50

• What makes a company attractive to Jencap and our 2024 M&A predictions 11:51-16:22

• Jencap’s CEO shares its 2023 success 16:23-18:11

• Predictions for key trends in 2024 that will impact the industry 18:12-21:55

• The Jencap Advantage: Collaboration 21:55-26:12