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.
How Respond helps improve the quality of claims adjustment
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:
- 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 Analytics’ 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 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:
- Brochure: Download more info on Respond
- Case study: Download the Sandy analysis using Respond for hurricane and storm surge
- White paper: More than 30 percent of claims are misclassified
- Webcast: Using Respond to Better Understand Weather-Related Risk