Respond

Natural Hazard Analysis and Forecast Service

Respond Hail Analysis Precision

Quickly determine hail severity and catastrophe and claims response

Insurers use the industry-leading science in Respond™ to estimate and analyze losses from hail damage, reduce loss and loss adjustment expense, and improve customer service for hail in the United States and Canada.

The hail algorithm maps precisely where hail fell and how severely it occurred. Verisk was the first to provide the insurance industry hail analysis derived from dual-polarization radar data and two-minute radar data frequency. The hail data maximizes accurate hail detection while minimizing false positives. As a result, the hail data improves the predictive skill of data applications and the usefulness of the data by claims adjusters in the field.

Respond’s precision analysis helps insurers improve:

  • Claims management decisions: Determine if a weather event should be designated a catastrophe and quickly assess storm severity, the number of claims adjusters and third party adjusters needed, and at what locations they’re needed most.
  • CAT Treaty Recovery: 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.
  • Opportunities in the field: Contact policyholders quickly after an event to enhance customer loyalty. Screen claims and identify potential fraud.
  • IBNR Analysis: Estimate affected policies within hours of an event and the volume of claims incurred but not reported.
  • Predictive Analytics for Claims: Improve predictive modeling for claims volume and pace. Our 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.

Combining analysis of hail severity locations with policies in force (PIF) results in a vast improvement over traditional weather data.

Hail probability
The hail algorithm analyzes hailstorm severity in each area. Analysis by Respond™

Respond analysis overlaid on your PIF visualizes policyholder locations and coverage values with a high probability of exposure to damaging hail or other perils. For claims outside the storm swath, Verisk can help you determine which properties were damaged in a previous storm or might need more investigation.

We are thrilled to see continued investment by Verisk on this important topic for the insurance industry. Increasing accuracy on where hail has occurred and how severe it was directly relates to IBHS' work to improve building standards and building component performance in hail-prone regions.

– Tim Reinhold, Senior Vice President of Research and Chief Engineer at IBHS