Natural Hazard Analysis and Forecast Service
Weather-related losses across the United States and Canada totaled more than $116 billion from 2011 to 2015, according to Property Claim Services®. Even more, losses have increased dramatically—more than five-fold annually over the past three decades. Verisk’s Respond™ predictive analytics help you correlate each storm’s severity to local needs and anticipate a storm’s effects more accurately. Then you can better mitigate risk, improve service, and optimize response resources.
Respond lets you visualize the effect of each peril in the context of local policies with near real-time weather analytics tailored to your needs and integrated into your workflow. The storm analytics indicate affected policy volume and severity so you know what operational response is needed to help your policyholders. It also helps you fine-tune incurred but not reported (IBNR) analysis as well as improve recoveries through accurate classification of catastrophe and noncatastrophe claims.
You can mitigate risk, reduce loss cost, and improve service when responding to natural hazards including: