Covering all major perils, Respond gives you a leg up in preparing for and responding to events that affect your policyholders and your book of business.
Rely on Vai. Respond weather analytics is powered by Vai artificial intelligence and automation.
Determine if a weather event warrants a catastrophe response and quickly assess storm severity, the number of claims adjusters and third party adjusters needed, and at what locations they’re needed most.
Determine the accurate date of loss and whether a loss was part of a catastrophe event. Insurance companies have identified millions of dollars of additional catastrophe recoveries or classified losses using Respond.
Contact policy holders quickly after an event. Screen claims and identify potential fraud.
Estimate affected policies within hours of an event and the volume of claims incurred but not reported.
Improve predictive modeling for claims volume and pace. Verisk's analysts can work with your team to use our proprietary algorithms and cross-industry data to predict the effect of a storm in the context of your book of business. We can provide expert interpretation and commentary on the analysis.
Get a more detailed look at how Respond helps manage the following perils:
Policy impact alerts that detail loss volume and coverages on your book of business by combining storm severity and policies in force. You can review the effect on residential and commercial properties from a variety of perils by various categories.
Predictive analytics to improve predictive modeling for claims volume and filing pace. Our proprietary algorithms use Verisk’s cross-industry data to predict the effect of a storm in the context of your book of business and portfolio.
Catastrophe claims analysis to help you identify millions of dollars of classified losses or additional catastrophe treaty recoveries. Insurers can determine the most accurate date of loss related to hail, wind, and other storms and determine if a loss was part of a catastrophic event.
Respond MAP is a web-based mapping and analytics platform that allows the user to visualize and get the most value out from Respond data in a simple and interactive interface.
As soon as you open Respond MAP, you can see how many of your policies have been impacted by severe weather.
Use the interactive charts and plots to determine the number of locations impacted by the peril and its magnitude.
Then upload claims information after an event, overlaid with respond weather data to determine the veracity of claims and protect your business from fraud .
Each year Respond’s proprietary algorithms help carriers and their adjusters navigate the complexities of weather perils. Read recent case studies below.
On Sunday, August 2, 2020, Tropical Storm Isaias roiled off the east coast of Florida. It later became better organized, with maximum sustained winds of up to 70 mph.
Tropical Storm Harvey made landfall as a low-end Category 4 Hurricane near Rockport, TX on the evening of August 25.
To get started with Respond, first reach out to us or call your rep to set up a demo.
From there, we'll help determine precisely what your needs are and tailor the product to fit right into your workflow, accounting for perils of interest, claims volume, and number of exposures.
Respond data is available shortly after all parties agree to the data deliverables.
While Respond is a geospatial product focusing on visualizing weather data Benchmark® provides a detailed, location-specific storm report used to verify existing claims.
XactAnalysis is a powerful toolset that helps claims and underwriting professionals catch errors, report on progress, and benchmark performance.
Benchmark provides underwriting and claims teams with quick, accurate reports and maps for hail, wind, and lightning at each property of interest.
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