Natural Hazard Analysis and Forecast Service
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.
Combining analysis of hail severity locations with policies in force (PIF) results in a vast improvement over traditional weather data.
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