$65 billion, $43 billion, $82 billion - when loss numbers like this get linked to a disaster, all too often it's easy to think government alone got stuck with the bill. However, recently, a UK business professional offered some thoughts on the issue from the insurance perspective. Central to that discussion is how important GIS has become to sector efforts to hold down cost. Below:
(Business Reporter, July 29, 2014)
Comment: Point of this article is well placed. GIS has been documented to have game changing economic value throughout the Emergency Management Cycle. For example, studies have shown GIS use during development of mitigation efforts can yield returns of $7-24 for every dollar spent.* The more tightly integrated the location's infrastructure, the higher the return on investment.