First Street’s Post

We're #hiring a new Geospatial Data Engineer - Climate Change in New York City Metropolitan Area. Apply today or share this post with your network.

We're #hiring a new Senior Backend Software Engineer - Climate Change in Atlanta Metropolitan Area. Apply today or share this post with your network.

We're #hiring a new Senior Backend Software Engineer - Climate Change in Seattle, Washington. Apply today or share this post with your network.

Earlier this week, The New York Times ran a piece featuring First Street Data, highlighting the distortion of insurance rates and its consequences. 🔗 full article here: https://lnkd.in/gbDqDPgR On July 25th, we are hosting a webinar on the interconnection between climate change, insurance, and property value. Our guest panel of experts from academia, policy, and the insurance industry will discuss this timely issue. 🗓 Link to register: https://lnkd.in/gBG8b5vE Key insights: ▶ An analysis of the definitive relationship between climate risk and increasing insurance rates. ▶ The interwoven impact of climate change and policy on the current landscape of the insurance industry. ▶ The implications of insurance trends' impact on communities, governments, and business.

The impact of ballooning insurance rates in certain areas is creating an increasingly risky market. The New York Times published an article using First Street data to examine the distortion of American insurance premiums. 📣 "The market is incentivizing all sorts of crazy behavior,” said Ishita Sen, a professor of finance at Harvard Business School. Link to full article: https://lnkd.in/gbDqDPgR First Street has been investigating the connection between insurance rates and climate change for some time, and so we have integrated insurance scenarios into our property-specific climate risk data. The research behind the article, incorporating climate risk data from First Street and other sources, was conducted by Ben Keys and Philip Mulder. 📄 Full study is available at NBER: https://lnkd.in/empMgk5a #climaterisk #insurance #NYT #NewYorkTimes #climatechange

📢 Big News: We are integrating our physical climate risk tool, Risk Factor, into the First Street brand. This consolidation aims to streamline our offerings under a single, mission-driven platform, connecting financial risk and climate change. "Our goal is to provide our customers with the physical climate data and insights necessary to drive their business, shape regulations, or purchase their forever home," said Matthew Eby, Founder and CEO of First Street. "By unifying our offerings under the First Street brand, we deliver industry-leading data through a single, user-friendly platform." Learn more: https://lnkd.in/gj4DcJUK

Don't wait for financial losses to incorporate climate risk into your risk mitigation strategy. Turn climate risk data into a strategic advantage. The Office of Financial Research used First Street data to examine how banks are revising their risk mitigation strategies in response to climate change. The findings reveal that banks generally implement climate risk mitigation strategies only after incurring losses, and rarely do so in highly competitive regions, even when confronted with substantial risks. Link to report: https://lnkd.in/ghJTRNdA First Street physical climate risk data can assist banks in proactively addressing climate risk by providing property-specific exposure and damage impact reports to their whole portfolio. #ClimateRisk #ClimateChange #RiskMitigation #Banking #DataAnalysis #Banking

Thank you EPRI, the world's preeminent independent, non-profit energy research and development organization, for including us in your list of suggested wildfire and flood risk tools for the energy sector. ▶ Link to Wildfire Tool List: https://lnkd.in/etpRGAH7 ▶ Link to Flood Tool List: https://lnkd.in/gSp_-teU First Street's physical climate risk data provides the energy sector a comprehensive analysis of climate risks (Flood, Fire, Wind, Heat, and Air Quality) that can impact infrastructure and operations. Our property or location-specific data enables energy companies to proactively mitigate risks, optimize resource allocation, and ensure the resilience of their assets. #energysector #climaterisk #physicalclimaterisk #riskmanagement #sustainability