Modeling Weather-induced Home Insurance Risks
Abstract: Insurance industry is one of the most vulnerable sectors to climate change. Assessment of future number of claims and incurred losses is critical for disaster preparedness and risk management. In this project, we study the effect of precipitation on a joint dynamics of weather-induced home insurance claims and losses. We also introduce the concept of complex multilayer networks and topological data analysis (TDA) to shed more light on weather-induced hazards and associated peril maps.
