Understanding the terminology used within Neural Earth’s platform is essential for interpreting property risk assessments and making informed decisions. Below, you will find key platform definitions, covering essential topics such as RiskRank, Estimated Policy Premiums, and more.
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1. Individual Peril Scores
Definition: Individual Peril Scores quantify the level of risk posed by a specific natural hazard — such as flooding, wildfire, or earthquakes — at a given location. These scores are derived using a combination of Neural Earth’s proprietary geospatial models and publicly available data from agencies like FEMA and NOAA.
Risk Scores: Scores follow a 5-tier categorical scale, ranging from 0 to 10. Neural Earth classifies scores above 2 as potentially “risky” for reporting and portfolio analysis purposes. These scores are visually represented using the following color-coded bands on the risk map:
Score Range | Risk Level | Color Indicator |
8–10 | Very High Risk | Dark Red |
6–8 | High Risk | Red |
4–6 | Moderate Risk | Orange |
2–4 | Low Risk | Yellow |
0–2 | Very Low Risk | Green |
No Data | N/A | Grey Hatch |
2. Property RiskRank
Definition: The Property RiskRank score represents the overall risk level associated with a location, accounting for the combined impact of all individual perils. This score is derived using proprietary technology and publicly available data sources.
Key Notes: Property RiskRank scores are independent of building-specific features. This ensures the score provides a consistent measure of the risk posed by a given peril at the location.
3. Portfolio RiskRank
Definition: The Portfolio RiskRank represents the overall risk level of a portfolio , calculated by aggregating the individual Property RiskRanks it contains. The score reflects a weighted assessment of all properties, taking into account factors such as the proportion of high- versus low-risk properties, and the geographic or peril diversity of the portfolio. It dynamically adjusts as properties are added or removed to ensure it accurately reflects the portfolio’s current risk profile.
Key Notes: Portfolio RiskRank is sensitive to the composition of the portfolio:
A portfolio composed of low-risk properties (e.g., in low-risk areas) will yield a lower Portfolio RiskRank.
Conversely, a portfolio with older properties in high-risk locations will result in a higher score. This ensures that the Portfolio RiskRank dynamically reflects the evolving risk profile of the portfolio.