LOCATION - Hail Risk
LOCATION® hail analytics can help you manage hail risk more effectively.
The Hail Risk ScoreTM and the Hail Damage ScoreTM — powered by the BenchmarkTM database and extensively validated with industry loss data — provide you with a historic and future measure of hail risk.
Incorporate the most up-to-date view of hail risk into your rates
The Hail Risk Score gives a measure of short- to medium-term future hail risk to help identify areas of emerging hail risk based on recent hail activity.
The score incorporates the longest history of ultra-precision hail data available and has been processed using novel scientific techniques developed by Verisk scientists — offering new insights into recent hail trends and the areas where hail is most likely to occur in the future. It provides a valuable, scientifically validated view of hail risk to use for developing rates, identifying areas of future growth and contraction, and managing exposure concentrations.
Identify preexisting hail damage for effective underwriting and optimized inspections
The Hail Damage Score indicates the likelihood of existing hail damage at the property. It provides a point-of-sale score plus analytics about each storm that may have affected the property. You’ll get the Hail Damage Score, number of major hail events, and date of last major hailstorm.
Business rules using the score can help you optimize inspection costs and set underwriting rules by determining whether the property needs an inspection.
Together, the Hail Risk Score and the Hail Damage Score will help you effectively segment and price your portfolio and allow you to take the necessary actions to better manage hail risk.