Insurers Can Integrate Detailed Weather Analytics Into Their Systems with Verisk’s New API
August 09 2021 - 9:00AM
Insurance claims and underwriting teams can now access detailed
hail, wind, lightning and hurricane wind analytics directly within
their internal claims and policy systems with a new application
programming interface (API) for Benchmark®, Verisk’s weather
analysis solution. Verisk (Nasdaq:VRSK) is a leading global
provider of predictive analytics and decision-support solutions.
Benchmark is a powerful weather solution that provides claims
and underwriting teams with comprehensive location-specific weather
peril data to help verify the cause of damage and the date the
damage occurred. With the new API for Benchmark, insurers can
integrate that data into the applications and solutions they use
daily to streamline the weather-related loss workflow for property
and auto claims as well as evaluate the risk of weather events for
underwriting purposes.
“By harnessing this API, insurers can provide everyone across
their organization — from underwriters to adjusters — with a
single, easily-accessed data source to view the weather data they
need to serve their customers,” said Rich Della Rocca, president of
claims at Verisk. “This new, enhanced service allows for greater
consistency and more efficient underwriting and claims
processes.”
Benchmark offers natural hazard analysis reports from weather
events in near real time, including location-specific loss dates
and history analysis for hail, wind, lightning, and hurricane wind.
Benchmark helps insurers minimize guesswork by field adjusters,
reduce the number of inspections, control loss adjustment costs
more tightly, speed up the claims process and reduce cycle
times.
To learn more about the new Benchmark API, visit Verisk.com.
About VeriskVerisk (Nasdaq:VRSK) provides predictive
analytics and decision support solutions to customers in the
insurance, energy and specialized markets, and financial services
industries. More than 70 percent of the FORTUNE 100 relies on the
company’s advanced technologies to manage risks, make better
decisions and improve operating efficiency. The company’s analytic
solutions address insurance underwriting and claims, fraud,
regulatory compliance, natural resources, catastrophes, economic
forecasting, geopolitical risks, as well as environmental, social
and governance (ESG) matters. Celebrating its 50th anniversary, the
company continues to make the world better, safer and stronger, and
fosters an inclusive and diverse culture where all team members
feel they belong. With more than 100 offices in nearly 35
countries, Verisk consistently earns certification by Great Place
to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook and
YouTube.
Media ContactMichelle
Pantina551-500-7327michelle.pantina@verisk.com
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