Natural Hazard Analysis and Forecast Service
When a storm occurs, Respond™ provides near real-time storm analysis including high resolution GIS data to visualize the locations of storm severity across the United States and Canada. The analyses are automatically fine-tuned based on radar, computer models, satellite imagery, and Verisk industry-wide claims data.
Respond works by analyzing storm severity and your policies in force to provide visualizations of policyholder locations and analytics to identify coverage values with a high probability of exposure to damaging hail or other perils. For analyzing claims outside the storm swath, Respond can help you determine which properties were damaged in a previous storm or require further investigation. As a result, Respond helps you improve claims management decisions, incurred but not reported (IBNR) analysis, and analytics on catastrophe and noncatastrophe claims.
In an ideal world, you would always deploy the adjuster with the appropriate skill level to each claim. Less experienced staff would handle less complex claims while more experienced professionals would address challenging situations. Such an approach would help you better manage time and resources, but, until Respond, you couldn’t identify claims that required greater skill. Respond provides daily impact assessment reports and visual representations of which policies the weather affected so you know how many claims there are, where they're located, and which ones require more skill to review and settle. You also get:
Respond reduces loss adjustment expense and cycle times by delivering accurate, location-specific analytics integrated into the claims workflow. Catastrophe and noncatastrophe teams can quickly and accurately perform many functions: