The insurance products and services including BenchmarkTM are provided by AER sister company Verisk Climate as of 2014.. Visit the BenchmarkTM sectionon Verisk Climate site.
The BenchmarkTM database provides the most comprehensive history of natural hazards that occurred at each property.
Designed specifically for insurance carriers, the Benchmark archive provides address-specific, high-resolution, natural hazard history including weather causes and dates. Examples include hail, lightning and winds.
| Insurance Department | Benefit | How |
|---|---|---|
| Underwriting |
Improve financial performance
|
Write new business more profitably by avoiding
properties with pre-existing damages due to natural
hazards. Evaluate risk on renewal.
|
|
Claims
|
Improve customer service;
improve accuracy
|
Validate quickly the date and cause of loss of each
claim, adjusting claims for insured clients while
reducing loss adjustment expenses and inaccuracies
for claims dated last week, month or in a previous year
|
|
Risk Management
|
Improve predictive modeling skill
|
Assess quickly the potential pace and volume of claims
from a weather event or natural hazard. Audit claims’
details and adjust any found to be in error
|
The BenchmarkTM archive includes a comprehensive suite of weather measures that allow an underwriter or claims manager to understand precisely the potentially damaging weather conditions that occurred at a property address. The database search engine provides a weather history for any given address.
Hail and Lightning Reports
| Wind History | Hail History | Lightning Strike |
|---|---|---|
Assess whether the reported date of loss is accurate for the hailstorm or wind peril reported in the claim. |
Identify the date of most severe hail at the property location, or the most recent date of hail. |
Quickly view the lightning strikes that may have caused damage at a specific property address including lightning strike dates and distances from the property of interest. |
Hail Maps
The BenchmarkTM Difference
The Benchmark database is a living history that is continually improving. We regularly improve the accuracy of its algorithms that translate weather radar and numerical weather prediction (NWP) data into precise estimates of damaging weather as new scientific and insurance data become available. Users of the data access the latest information to ensure that their business decisions are guided by the most accurate data available in the marketplace.