- Black Knight’s new suite of climate and natural hazard risk data solutions – available through Black Knight’s Rapid Analytics Platform (RAP) and as standalone data and analytics offerings – offers a 360 degree view of climate-related risks
- The solution suite includes Disaster Alerts, which provides timely property-level information on natural disasters, in many cases ahead of FEMA statements.
- The suite also includes Climate Risk Scoring, which proactively scans portfolios and pipelines for potential climate-related environmental exposures and assigns a risk score, continuously updated with the latest climate data.
- Comprised of integrated datasets and portfolio analytics, Disaster Alerts and Climate Risk Scoring can be used together or standalone
- The suite of climate and natural hazard data solutions can also help hedge against climate risk by identifying pools of agency-certified “green” (i.e. sustainable) mortgages for investment
JACKSONVILLE, Florida., October 6, 2022 /PRNewswire/ — Today, Black Knight, Inc. (NYSE: BKI) announced the launch of its new suite of weather and natural hazard data solutions to help market participants, investors and analysts mortgage industry to identify properties affected by natural disasters and mitigate future climate-related risk. Comprised of integrated datasets and portfolio analytics, but also available as standalone offerings, the suite of climate and natural hazard data solutions provides property-level insight into both the potential impact of current weather events, as well as gauges and helps users manage the level of weather risk for assets in the future.
“With each passing year, it becomes more evident that we have entered an era of increasingly large, destructive and frequent climatic events,” said Ben Grabosk, president of Black Knight Data & Analytics. “The impact of these events on life and property can be immense, with damage reaching billions of dollars each time. And the risk they pose to those with a financial interest in the collateral that lies on the path to these events is significant and growing.Mortgage lenders, managers, investors and many others with an interest in the housing industry have always turned to Black Knight for actionable insights to help them manage risk, and climate risk is certainly no exception.
The suite of climate and natural risk data solutions combines Black Knight’s vast data and analytics assets with public and private datasets and proprietary risk scoring algorithms to provide unparalleled insight into climate risk, both proactively and in the moments immediately following a climate change. – related event.
The suite includes Disaster Alerts and Climate Risk Rating Disaster Alerts – the dataset behind the Early Warning Suite in the Black Knight Actionable Intelligence Platform (AIP). The solutions use satellite imagery, topographic mapping and other datasets to explore affected areas and identify properties at risk, in many cases before FEMA disaster declarations. By focusing on specific properties that have likely been affected, rather than county-wide areas of potential activity, Disaster Alerts helps users act both quickly and effectively to protect costs and resources.
Climate change is an evolving situation – and risk levels continue to rise. To address this need, the Climate Risk and Natural Hazard Data Solution Suite complements point-in-time actionable information from disaster alerts with climate risk scoring. Proactively monitoring portfolios of loans, properties, pools or securities, Climate Risk Scoring assesses the climate-related risk characteristics of individual properties and assigns a score to help model future risk. Leveraging Black Knight’s environmental, social and governance (ESG) data, the solutions can also help investors guard against this risk by identifying “green” (i.e. sustainable) pools certified by agencies of mortgage securities guaranteed by agencies for investment.
Climate and natural hazard data solution suite covers over 95% of residential properties in United States and is available through the Black Knight Rapid Analytics (RAP) platform, as well as many other real estate and housing finance datasets and pre-packaged analytics from Black Knight. Individual items are also offered as standalone data and analytics purchases.
“According to a report by the National Oceanic and Atmospheric Administration, United States saw 20 separate billion-plus climate and weather events in 2021, making it the third-costliest year on record with an estimate $145 billion in damages,” Graboske continued. “Black Knight clients already rely on our unparalleled data and analytics offerings to monitor their portfolios for key risk factors, such as loan-to-value ratios, equity and liens. With the suite of climate and natural hazard data solutions, we can now also provide a 360 degree view of their climate risk – wherever they are in the real estate and housing finance continuum. .”
About the Dark Knight
Black Knight, Inc. (NYSE: BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage and real estate lending and servicing industries, as well as in capital markets and secondary. Businesses leverage our robust integrated solutions across the homeownership lifecycle to help retain existing customers, win new customers, mitigate risk and operate more efficiently.
Our customers rely on our proven, comprehensive, and scalable products and our unwavering commitment to providing superior customer support to achieve their strategic goals and better serve their customers. For more information about Black Knight, please visit www.blackknightinc.com/.
SOURCEBlack Knight, Inc.