Black Knight Launches Climate and Natural Hazard Risk Data Solutions Suite to Quickly Identify Properties Impacted By Natural Disasters and Mitigate Portfolio Risk From Future Climate-Related Events

Rhea-AI Summary

Black Knight (NYSE:BKI) launched its Climate and Natural Hazard Risk Data Solutions Suite to assist mortgage industry participants in identifying properties affected by natural disasters and mitigating climate-related risks. Key features include Disaster Alerts for timely property-level insights and Climate Risk Scoring to proactively evaluate portfolio risks. This suite covers over 95% of U.S. residential properties, using vast datasets and analytics to gauge climate risks and support investment in sustainable mortgages. The initiative responds to increasing climate events, enhancing risk management capabilities within the housing finance sector.

Positive

• Launch of the Climate and Natural Hazard Risk Data Solutions Suite enhances risk management for mortgage industry stakeholders.
• Features like Disaster Alerts provide timely insights into natural disasters, allowing for proactive risk management.
• Climate Risk Scoring helps assess and manage future climate risks for portfolios, improving decision-making for investors.
• Coverage of over 95% of U.S. residential properties expands potential market reach and client utility.

Negative

• None.

• Black Knight's new Climate and Natural Hazard Risk Data Solutions Suite – available via the Rapid Analytics Platform (RAP) from Black Knight and as stand-alone data and analytics offerings – provides a 360-degree view of climate-related risk
• The solutions suite includes Disaster Alerts, which provides timely, property-level insight into natural disasters, in many instances before FEMA declarations
• The suite also includes Climate Risk Scoring, which proactively analyzes portfolios and pipelines for potential climate-related environmental exposures and assigns a risk score, continuously updated with the latest climate data
• Made up of integrated data sets and portfolio analytics, Disaster Alerts and Climate Risk Scoring can be used together or on a stand-alone basis
• The Climate and Natural Hazard Risk Data Solutions Suite can also help hedge against climate risk by identifying pools of agency-certified "green" (i.e., sustainable) mortgages for investment

JACKSONVILLE, Fla., Oct. 6, 2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced the launch of its new Climate and Natural Hazard Risk Data Solutions Suite to help mortgage industry participants, investors and analysts identify properties impacted by natural disasters and mitigate future climate-related risk. Made up of integrated data sets and portfolio analytics, but also available as stand-alone offerings, the Climate and Natural Hazard Risk Data Solutions Suite provides property-level insight into both the potential impact of current climate events, as well as gauges and helps users manage the level of climate risk to assets in the future.

"With each passing year, it becomes more apparent that we've entered an age of increasingly large, destructive and frequent climate-driven events," said Ben Graboske, president of Black Knight Data & Analytics. "The impact these events have on life and property can be immense, with damages well into the billions of dollars each time. And the risk they represent to those with a financial stake in the collateral that's in the path of these events is significant and growing. Mortgage lenders, servicers, investors and many others with a stake in the housing industry have always looked to Black Knight for actionable insights to help them manage risk, and climate risk is certainly no exception."

The Climate and Natural Hazard Risk Data Solutions Suite combines Black Knight's vast data and analytics assets with public and private data sets and proprietary risk-scoring algorithms to provide an unmatched look at climate risk, both proactively as well as in the moments immediately following a climate-related event.

The suite Includes Disaster Alerts and Climate Risk Scoring Disaster Alerts – the data set behind the Early Warning Suite in the Black Knight Actionable Intelligence Platform (AIP). The solutions use satellite imagery, topographical mapping and other data sets to drill down into impacted areas and pinpoint properties in harm's way, in many instances before FEMA disaster declarations. By focusing on specific properties that were likely impacted, rather than on 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 increase. To address this need, the Climate and Natural Hazard Risk Data Solutions Suite complements Disaster Alerts' point-in-time actionable intelligence 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 for future risk. Leveraging environmental, social and governance (ESG) data from Black Knight, the solutions can also help investors hedge against that risk by identifying agency-certified "green," (i.e., sustainable) pools of agency-backed mortgage securities for investment.

The Climate and Natural Hazard Risk Data Solutions Suite covers over 95% of residential properties in the United States and is available via the Black Knight Rapid Analytics Platform (RAP), along with many of Black Knight's other real estate and housing-finance data sets and prepackaged analytics. Individual elements are also offered as stand-alone data and analytics purchases.

"According to a National Oceanic and Atmospheric Administration report, the United States saw 20 distinct billion-dollar-plus climate and weather events in 2021, making it the third-most-costly year on record with an estimated $145 billion in damages," Graboske continued. "Black Knight customers already rely on our unmatched data and analytics offerings to monitor their portfolios for key risk factors, such as loan-to-value ratios, equity and liens. With the Climate and Natural Hazard Risk Data Solutions Suite, we can now also provide a 360-degree view of their climate risk – wherever they stand in the real estate and housing finance continuum."

About Black Knight

Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.

Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serving their customers. For more information on Black Knight, please visit www.blackknightinc.com/. 

For more information:
Michelle Kersch	Mitch Cohen
904.854.5043	704.890.8158
michelle.kersch@bkfs.com	mitch.cohen@bkfs.com

 

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SOURCE Black Knight, Inc.

FAQ

What is Black Knight's new Climate and Natural Hazard Risk Data Solutions Suite?

The suite provides mortgage industry stakeholders with tools to identify properties affected by natural disasters and manage climate-related risks, including Disaster Alerts and Climate Risk Scoring.

How does the Climate and Natural Hazard Risk Data Solutions Suite assist mortgage lenders?

It offers property-level insights and risk scoring to help lenders proactively manage and mitigate climate-related risks.

What features are included in Black Knight's Climate and Natural Hazard Risk Data Solutions Suite?

The suite includes Disaster Alerts for timely disaster information and Climate Risk Scoring for evaluating potential climate risks to properties.

How much of the U.S. residential properties does the suite cover?

The Climate and Natural Hazard Risk Data Solutions Suite covers over 95% of residential properties in the United States.

Why is Black Knight launching this new suite now?

The launch responds to an increase in climate-driven events, aiming to provide better risk management solutions in the mortgage and real estate sectors.