Benchmark

An easy-to-use weather analytics resource for insurers and service provider partners.

Benchmark | Weather Analytics Resource for Insurers

Benchmark

Fast and accurate resolution of weather-related claims increases policyholder satisfaction and retention. Benchmark™ provides underwriting and claims teams with quick, accurate reports and maps for hail, wind, and lightning at each property—delivered in Verisk platforms you use today including Web and mobile.

Verify storm damage claims quickly and accurately

Benchmark helps your catastrophe and claims adjusters improve claim settlement time and policyholder satisfaction with fast access to location-specific weather analysis and a clear understanding of a storm’s impact. Benchmark provides direct field access to weather-severity reports and granular, near real-time maps.

XactAnalysis claims from 2010 to 2013

When field teams adjust claims after a weather event, the biggest challenges are determining the date the loss occurred and determining what damage is new and what was preexisting. Making that determination often takes time, which can slow the process of claims and negatively affect customer satisfaction.

Using Benchmark, your team can:

  • Reduce cycle time to improve policyholder satisfaction
  • Optimize claims adjustment expenses
  • Improve the quality of claims adjustment
  • Reduce fraudulent claims
  • Rapidly deploy a consistent view of hail, wind, and lightning across your claims department
Natural peril history database for underwriting and claims

Benchmark is an easy-to-use weather analytics resource for insurers and service providers that offers underwriting and claims teams quick, accurate reports, maps, and analysis for hail, wind, and lightning at each property. Your underwriters can avoid properties with preexisting damage and more accurately evaluate risk on renewals. And the information is delivered in platforms you use, including:

The Benchmark property-specific natural hazard history database provides a consistent and comprehensive record of catastrophe and noncatastrophe hail, wind, rain, lightning, and other hazards that occurred at each property. It’s the industry’s most comprehensive hail-fall detection and windspeed verification resource for the United States and Canada.

The data source for Benchmark is Respond™, which gives users analysis and forecast services for weather events in near real time, including weather-by-location analysis for wind, hail, lightning, tornado, wildfire, hurricane, storm surge, and other natural perils.