Verisk, a global data analytics provider, has boosted its weather solutions to include a hail and tornado analytics solution to provide real-time data following severe weather events.
Verisk offers a range of analytic solutions to help insurers and reinsurers make more informed decisions about risk, streamline workflows, and improve profitable growth.
These solutions include robust extreme event models and underwriting analytics for millions of commercial and residential properties around the world.
Verisk’s latest weather enhancement, Hail Impact Energy and Tornado Probability, will enable insurance professionals to get detailed insight into potential damage from hailstorms and tornadoes to help efficiently deploy resources and more accurately forecast claims after a severe weather event.
Hail Impact Energy estimates the total energy of hail when it hits a surface and incorporates Verisk’s existing Respond hail products that account for hail size, duration, and probable severity.
Tornado Probability provides a highly granular first look at where tornadoes likely hit by leveraging horizontal and vertical radar pulses (dual-polarization radar). Both products are updated every 5 – 10 minutes.
Aaron Brunko, senior vice president at Verisk’s Property Estimating Solutions, said, “Verisk has a history of delivering critical weather data to insurers by incorporating cutting-edge radar technology and the latest research advancements into our proprietary weather algorithms.
“Hail Impact Energy and Tornado Probability are just the latest two examples and will allow our customers to analyze and manage property claims like never before. By focusing on multiple characteristics of hail and the hailstorm itself, Hail Impact Energy provides a first-of-its-kind innovation designed to more clearly determine the likelihood and severity of hail damage. In addition, Tornado Probability enables our customers to quickly mobilize within minutes of an event and be first to respond.”
In October 2022, Verisk launched a geolocation solution for commercial and residential risk assessment.
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