Publish Date: July 26, 2012
Article Source: Property Casualty 360
Article Link: www.aer.com/news-events/in-the-news/2012/future-weather-analytics
AER's Joy Rohde had an article published in Property Casualty 360 about the future of weather analytics.
“Renee Beauford, vice president of claims for Hastings Mutual Insurance Co., has found significant benefit in leveraging these next-generation weather analytics tools. ‘We use AER Respond on a daily basis, overlaying high-resolution weather data with our claims and [policies in force]. Ingesting their near-real-time data gives us an edge on deploying the right adjusting resources to the right problems quickly and accurately.’”
In the article “The Future of Weather Analytics”, Joy Rohde of AER summarizes, “There is an enormous opportunity to fast-track the process of accurately identifying the number and severity of potential claims, thus reducing processing costs. Sophisticated weather and claims analytics tools are now available that can minimize the manual efforts associated with determining the extent of weather-related losses.
“Advanced awareness of location-specific weather patterns can allow carriers to preposition staff and prepare resources—and these tools can accurately map the areas in which to deploy adjusters, thereby saving time and expense. Furthermore, by clearly delineating the area of impact and the severity of the storm, anomalous loss patterns can be more clearly identified by both size and location; claims that fall outside of the range of probability may be the result of a prior storm or even fraud.”