Systems, Methods, and Platform for Estimating Risk of Catastrophic Events

Abstract

In an illustrative embodiment, systems and methods for calculating risk scores for locations potentially affected by catastrophic events include receiving a risk score request for a location, the risk score request including a request for assessment of risk exposure related to a type of catastrophic event. Based on the type of catastrophic event, a data compression algorithm may be applied to a catastrophic risk model representing amounts of perceived risk to an area surrounding the location. In response to receiving the risk score request, a risk score for the location may be calculated that corresponds to a weighted estimation of one or more data points in a compressed catastrophic risk model. A risk score user interface screen may be generated in real-time to present the catastrophic risk score and one or more corresponding loss metrics for the location due to a potential occurrence of the type of catastrophic event.

What is claimed is: 
     
         1 . A system comprising:
 processing circuitry; and   a non-transitory computer readable memory coupled to the processing circuitry, the memory storing machine-executable instructions, wherein the machine-executable instructions, when executed on the processing circuitry, cause the processing circuitry to
 receive, from first remote computing devices of one or more model vendors via a network, catastrophic risk models representing risk to one or more locations, wherein each of the catastrophic risk models is associated with one of a plurality of types of catastrophic events, 
 for each of the catastrophic risk models, compress the respective catastrophic risk model into a respective compressed risk model, wherein compressing the respective catastrophic risk model includes
 identifying, from a plurality of data points in the respective catastrophic risk model, a first portion of data points that can be estimated from one or more surrounding data points within a predetermined error tolerance, 
 removing, from the respective catastrophic risk model, the first portion of data points, and 
 storing, within a non-transitory database storage region, the respective compressed risk model, wherein a plurality of data points in the respective compressed risk model include a remaining second portion of data points from the respective catastrophic risk model, and 
 
 compute, in real-time responsive to receiving a risk score request for a location due to a type of catastrophic event identified in the request, a catastrophic risk score for the location, wherein the catastrophic risk score corresponds to a weighted estimation of one or more of the respective data points in the respective stored compressed risk model for the type of catastrophic event, and wherein the request is received from a second remote computing device via the network.