EuroTempest, the leading provider of European storm and weather risk management services to the (re)insurance market, has today announced the launch of its Global Weather Validation tool, designed to help insurers validate weather-related claims more quickly and efficiently around the world.
The tool, which up until now has only been available for the UK market, uses data from satellite, land-based and marine weather stations across the globe, to assist insurers in the early detection of invalid claims, reducing the need for site visits, whilst processing valid claims more quickly and cost-effectively.
The Global Weather Validation tool delivers clear, precise reports on key weather hazards that can cause damage, such as wind (gust), rainfall accumulation (1-hour and 24-hour), rainfall rate, lightning, floods, and hail. These reports cover any location worldwide and provide detailed information within 700 meters of the policyholder’s location. Available in various formats, the tool can be accessed through a web browser or integrated with claims management systems, enabling fast and accurate assessments.
The launch of EuroTempest’s Global Weather Validation tool represents a significant advancement in weather-related claim validation, leveraging sophisticated data integration and high-resolution modelling to improve accuracy. By utilising its methodology across the globe, EuroTempest aims to enhance claim handling efficiency, reduce costs, and improve customer satisfaction in the face of increasingly severe weather events.
EuroTempest’s Commercial Director, Nick Wood, said: “We’re hugely excited to be launching our new Global Weather Validation tool, and to be helping even more insurers around the world better navigate the ever-changing weather risk landscape.
“As the frequency and severity of extreme weather events continues to increase worldwide, we’re confident that the tool will prove invaluable to our customers, allowing them to handle claims more effectively and efficiently.”
EuroTempest is the leading provider in Europe of weather risk management services to the insurance, banking/finance, energy, construction and marine industries, as well as government organisations. It services some of the largest global (re)insurers, brokers and cat modelling agencies. EuroTempest provides data which enables better preparation for weather events as they develop and for improving understanding of the weather risks that businesses and organisations face.
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