GEDI is a NASA, GEO, and GOOGLE-funded modeling framework that characterizes the broad economic impact of disasters, including economic restoration and critical infrastructure recovery time.
LONG BEACH, Calif., Sept. 10, 2022 /PRNewswire-PRWeb/ — ImageCat is pleased to announce its 2nd technical webinar on the newly launched Global Economic Disruption Index (GEDI), a framework for assessing the economic impacts of climate change and disasters. GEDI is a NASA, GEO, and GOOGLE-funded modeling framework that characterizes the broad economic impact of disasters, including economic restoration and critical infrastructure recovery time. GEDI offers a path to bypass the complexity of traditional modeling technologies and provides a simple index for widespread use.
“The changing climate and a growing appreciation of the social impacts of disasters has caused many to question the way economic impacts are calculated”, said Charles Huyck, Executive Vice President at ImageCat. “GEDI provides a unique way to characterize the disruption that follows disasters, with far reaching applications- from environmental justice to parametric-triggered insurance products”.
The framework leverages Earth Observation (EO), Catastrophe (CAT) models, and economic modeling to address a wide range of applications, including supplementing disaster advisories, Post Disaster Needs Assessment (PDNA) and claims, community resilience assessment, prioritizing infrastructure projects, and compliance with recent executive initiatives, orders, and regulations addressing social justice and climate change (such as Justice40, SEC Proposal 33-11042 and Ex Order 14008). GEDI will be available to end users in the government, insurance, and the nonprofit sector through ImageCat’s advisory services and risk platforms Inhance® and FACFinder™.
“The coming together of earth observation, future climate projections, and catastrophe risk models is critical in order to understand and thus better manage the growing physical risks that a more volatile and extreme climate is bringing. Frameworks such as ImageCat’s Global Economic Disruption Index (GEDI) encourage more proactive disaster risk management and also support the emergence of parametric insurance as a means of protecting livelihoods, communities and natural assets underserved by traditional insurance mechanisms,” said Simon Young
To learn more about how GEDI can help your organization, please join our 2nd Technical Webinar on this topic specifically designed for the insurance audience on Wednesday September 14, 8:00 AM Los Angeles/10:00 AM New York/ 4:00 PM London.
Please register here: https://us06web.zoom.us/webinar/register/WN_SjK027qJS3qfqREBWzy3wQ
The speakers for this event are Shanna McClain, PhD, NASA Disasters Program Manager, Charles Huyck, Executive Vice President of ImageCat, and Rick Murnane, PhD, is the CEO of Kinetic Analysis Corporation. The speakers will discuss the NASA disasters program, the goals and objectives, current activities and future directions, and applications of the GEDI framework for the insurance industry.
- The Disasters program area of NASA’s Earth Science Applied Sciences Program uses Earth-observing data and applied research to improve the prediction of, preparation for, response to and recovery from hazards and disasters around the world.
- ImageCat is an international risk management innovation company supporting the global risk and catastrophe management needs of the insurance industry, governments and NGOs.
- Kinetic Analysis Corporation provides a global, multi-model, multi-hazard view of deterministic and probabilistic hazard, damage and loss data. Multi-model, deterministic data are available in near real-time for ongoing events, as well as for historical or hypothetical scenarios.
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