Overview
Risk Theory is a growing program administrator that began in the auto dealer space and has since expanded into property insurance, with a particular focus on multi-family portfolios. As their property book scaled, so did the need for faster, clearer insight into catastrophe risk, especially severe convective storms and flood exposure.
To support underwriting decisions at speed and scale, Risk Theory partnered with KatRisk and adopted Perilfinder to bring multiple risk views into a single, intuitive underwriting workflow.
The Challenge
Risk Theory aims to limit its exposure to severe thunderstorm, inland flood and storm surge risk across its portfolio. Traditional workflows made it difficult to efficiently evaluate exposure across locations, compare multiple data sources, and iterate quickly enough to support real-time underwriting decisions.
Underwriters needed a way to:
- Analyze catastrophe risk rapidly across a growing portfolio
- Run multiple views and iterations in real-time without slowing down decision-making
- Compare risk insights from both regulatory and proprietary model perspectives
- Reduce manual effort caused by fragmented tools during property evaluation
The Solution: Perilfinder
Perilfinder gave Risk Theory a single environment to visualize, compare, and interpret catastrophe risk at the property level.
By bringing FEMA flood data and KatRisk intelligence together in one platform, Perilfinder eliminated the need to toggle between systems or reconcile disconnected datasets. Underwriters can now assess flood exposure contextually, seeing how a location behaves across multiple risk perspectives in seconds.
Equally important, KatRisk’s ability to run rapid model iterations allowed Risk Theory to analyze their portfolio more completely and select risk with greater confidence.
The Results
Since adopting Perilfinder, Risk Theory has seen meaningful improvements in underwriting efficiency and decision quality:
- Faster property evaluations
Underwriters can quickly assess flood risk in the surrounding area without manual data stitching. - Clearer risk insight
Viewing FEMA and KatRisk scores side by side provides a more complete understanding of exposure. - Improved underwriting workflow
Visual analysis replaces manual processes, allowing teams to move from data review to decision faster. - Better risk selection
Rapid iteration enables deeper portfolio analysis and more informed underwriting outcomes.
Speed and clarity have been the biggest gains, allowing Risk Theory to confidently evaluate risk without slowing down the business.
