2022 Wildfire Season Overview looks back at 2021 and ahead to what may be a long year of wildfires in 2022.
Today, Zesty.ai released its 2022 Wildfire Season Overview. Each year, Zesty.ai prepares a comprehensive overview to help guide insurers based on recent wildfire events, persistent drought conditions, and advancements in artificial intelligence for managing wildfire risk.
If it seems like wildfires are burning at all times of the year, it's not just you. Very destructive events, like last December's Marshall Fire, are occurring in months not typically associated with high wildfire danger. Those who study wildfires, including Zesty.ai, have begun to start thinking in wildfire "years" instead of wildfire "seasons'. Strong wildfire years, with 10+ million acres burned, have quickly become the new normal. The last 10 years have been the worst on record for property and casualty (P&C) insurers when it comes to wildfire. 8 of the top 20 fires in California history, and more than half of the acreage burned by them, occurred in just the years 2020 and 2021.
What can insurers do to prepare themselves for persistent wildfires?
- Understand the Data: Instead of sticking with decades-old approaches, assess wildfire risk at the property level.
- Continue to Bring Transparency and Education to Homeowners: Insights from AI-based wildfire risk models may be passed on to homeowners and agents, enabling a much better understanding of wildfire risk.
- Find the Right Technology Partner: Aerial and satellite imagery, machine learning, and infinitely scalable cloud computing resources were combined to build the most granular wildfire risk assessment model (Z-FIRE™). Using Z-FIRE™, Zesty.ai can accurately estimate an individual property’s wildfire risk, plus highlight the key property-level factors that contribute to that risk.