The unpredictable nature of weather makes it difficult to mitigate risk, forecast claim volume, manage resources, and make meaningful decisions before and during weather events.
Respond® gives you the insight you need to manage weather events proactively, no matter when and where they happen.
With weather data insights that are timely, accurate, and actionable, you can expedite your claims and help get your policyholders back to normal, faster.
Determine if a weather event warrants a catastrophe response and quickly assess storm severity, the number of claims adjusters and third party adjusters needed, and at what locations they’re needed most.
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.
Contact policy holders quickly after an event. Screen claims and identify potential fraud.
Estimate affected policies within hours of an event and the volume of claims incurred but not reported.
Improve predictive modeling for claims volume and pace. Our analysts can work with you to predict the effect of a storm in the context of your book of business, with expert interpretation and commentary on the analysis.
Respond weather analytics help you predict demand for your building repair products and services by giving you the reliable, timely weather-related data you need.
If inadequate weather-related demand planning is costing your business, Verisk's analysis and forecasting can tie into your demand planning system with predictive analytics that correlate weather events--such as hail, wind, and hurricane--to product demand.
Forecast storm demand surges more precisely by using predictive analytics to correlate each storm’s damage severity to local inventory needs for building materials and restoration supplies.
Achieve optimal revenue generation while avoiding excessive inventory. Accurately forecast increased demand from distributors and retailers following storms, allowing for swift responses and timely product provision.
Respond weather analytics empower building materials manufacturers, distributors, and contractors to optimize operations at the neighborhood level. We help you rebuild communities and restore the roofs over families’ heads.
Damaging weather drives demand for materials to repair affected properties. Manufacturers, distributors, and contractors need to assess exactly where severe storms affect communities quickly so they can get the right materials to the right locations in the shortest amount of time.
Respond’s hail detection algorithms and our nationwide footprint of homes allow you to quantify the damage and resulting storm demand surge down to the local level to facilitate decisive and timely responses.
Respond forecasts damage estimates up to five days before landfall. The predictive analytics are updated multiple times a day as the tropical cyclone approaches land.
In this example, the radar indications of hail look similar across the East and South, but the impact is dramatically different. Storms in Pennsylvania and New Jersey damaged thousands of homes while storms in other areas produced far less damage. Organized response is necessary in a relatively narrow geographic zone between Reading, PA and the Jersey Shore.
In this example, Respond estimated that the storm around Columbia, SC damaged about 8,000 homes.
Covering all major perils, Respond helps you prepare for and respond to events that affect your policyholders and book of business.
Respond lets you visualize the effect of each peril in the context of local policies. When a storm occurs, the near real-time weather analytics, which are based on weather radar, model data, and other inputs are automatically generated. They are then tailored to your needs and integrated into your workflow.
Get detailed 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.
Improve predictive modeling for claims volume and filing pace. Our proprietary weather algorithms enable you to predict the effect of a storm in the context of your book of business and portfolio.
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.
Verisk Respond can enhance your catastrophe and non-catastrophe efforts.
Improve operational processes and policyholder satisfaction by aligning staffing levels with resource demands, placing staff in optimal locations, assigning claims to adjusters based on experience, and validating the date of loss for each claim.
Increase the accuracy of early-stage bulk reserves by analyzing claims, improving catastrophe classification and recovery, and using predictive modeling to set aside reserves.
Quickly detect potentially fraudulent claim patterns and escalate them to SIU personnel when warranted by using advanced technology and analytics.
Respond is part of the Xactware family of products. Add more functionality to Respond with powerful toolsets, reports, and maps.
Tap into the largest and only full-cycle property insurance claims management solution.
Property-specific hail, straight-line wind, hurricane wind, and lightning data to help you verify damage and date of loss.
This GIS mapping and analytics tool helps you evaluate, understand, and respond to the impacts of significant weather-related risks and events.