Predictive Analytics for Weather Claims

Respond Natural Hazard Analysis and Forecast Service

 

Respond

Respond® predictive analytics help you correlate each storm’s severity and anticipate the storm's effects more accurately. You can better mitigate risk, improve service, and optimize response resources.

With Respond, Verisk is changing the way insurers react to damage from natural hazards. Respond lets you visualize the effect of each peril in the context of local policies. The near real-time weather analytics are tailored to your needs and integrated into your workflow.

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With Respond you can:

  • Forecast claims volume accurately for natural hazard events
  • Deploy the appropriate adjuster skills for properties within, outside of, and bordering the storm area
  • Improve claims date of loss accuracy
  • Reduce claims cycle time and improve policyholder satisfaction
  • Improve reinsurance treaty recovery

The predictive analytics combine two capabilities in which Verisk has deep expertise:

  • Real-time weather analysis and forecasts
  • Industry-wide knowledge of both insurance claims and storm effects on demand for building repair materials

Respond automates detailed analysis of the storm effects from hail, wind, lightning, rain, hurricane, storm surge, tornado, and wildfire. We refine our proprietary algorithms and analysis approaches continuously in order to deliver the most accurate analysis to our customers.

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Customer inquiries for sales and support for Benchmark and Respond are provided by our Xactware team.