Weather Warnings, Forecasts, Data and Consulting for Insurance Carriers

Insurance

Insurance carriers andreinsurersface a formidable challenge: simultaneously providing excellent service to policyholders, while holding down costs in the face of a major hurricane, flooding, or other weather disaster.

AccuWeather Enterprise Solutions providesweather forecasts,data,warnings, andconsulting serviceswhich integrate into the decision making processes of many insurers andreinsurersto drive more informed, timely, and better weather-related decisions – resulting in higher sales, lower costs and reduced operational risk. 

Examples of How AccuWeather Assists Insurance Companies

  • Providing seasonalandshort-range forecaststo trigger moratoriums on writing new policies.
  • Profiling the potential changes thatglobal climate change, or rare Black Swan events might bring.     
  • Complementing real-time cat models withGIS weather layersthat visually correlate past, present and future weather events with the locations of insured properties. We can also enable fusion of the output of your cat model with full GIS weather data, in real-time, for scenario testing of possible landfall locations.
  • Warning of the need to proactively deploy catastrophe teams to affected areas.
  • Through customized statistical risk analysis, supporting underwriters with descriptions of what weather events might be expected to occur every ten years, every 50 years and every 100 years.  
  • Drawing on our comprehensivehistorical database(the largest and most accurate in existence) to document the level of risk of a wide variety of severe weather scenarios and geographies and the cost of the resultant damage.
  • Providing pinpointscientific reconstructionsof past weather events to support the resolution of claims and the investigation of possible fraudulent.

On-demand consultations with an expert AccuWeather meteorologist 24x7x365 are available with all the above services. This can include senior-level briefings with your upper management as required. Theseconsultationsexplain the nuances of a warning or forecast and help you when you are on the verge of a critical decision. 

 

Do You Insure Clients against Weather Damage?

 

 

Ask about our Insured Weather Risk Mitigation Service, which provides pinpoint, custom warnings to your clientsto preserve their operations and reduce your losses.

 

Many leading insurance companies are already experiencing the difference advanced weather warnings and information can offer. For example, at the request of a major property insurer, AccuWeather conceived and implemented the “safe city” program: 

We determine the forecasted path of greatest hurricane destruction and then we select the optimal city in close proximity where people and supplies can be safely pre-positioned. Once the danger has passed, claims representatives and supply trucks can quickly reach policyholders to tarp-over holes in roofs, clear fallen trees, and reassure their traumatized policyholders. By reaching affected properties quickly, the total size of the claims is reduced, temporary lodging charges are lower, and happy policyholders are less likely to make unreasonable claims. 

Request a free consultation about weather-based planning.

Learn more about AccuWeather services for insurance. 

Contact an account executive today for more information.