Weather disasters cost insurance companies an average of $25 billion a year in claims. Statistics like these are driving your industry to invest in analytics and data to proactively minimize costs. The question is, who will lead and who will follow? According to Insurance Networking News, 75% of Insurers will increase their data and analytics spend over the next year.
The Weather Company's cutting-edge technology and data provides a perfect way for your team to outperform your competition while saving money. Using our tools your team can prepare for severe weather events, prevent claims and mitigate risk. According to a recent article in Property Casualty 360º, “Weather is the direct cause of a large percentage of both automobile and property claims.” Why not leverage these new platforms, data and analytics to prevent claims and validate others? It’s time to innovate and invest.
The Weather Company offers the WeatherFX™ EcoSystem, a suite of five products designed for the Insurance industry:
1. WeatherFX Reach - Engage customers by adding interactive weather to your current website or mobile application.
2. WeatherFX Alert - Mitigate claims and protect policyholders from lightning, hail and other forms of severe weather with text message and email alerts 30 minutes prior to a storm’s impact
3. WeatherFX Response - Real-time risk assessment dashboard monitors and alerts on severe weather exposure in relation to your policyholders.
4. WeatherFX Replay - Validate weather-related claims by reviewing the exact weather conditions at the time and location of the claim incident
5. WeatherFX API - Integrate weather data sets into every aspect of your claims process
Please visit our Insurance product section for additional information on these and other products.