IBM Accelerator Catalog
IBM Accelerator Catalog

Reducing Severe Weather Risk in Insurance

Severe weather has a significant impact on insurers and their policyholders. This industry accelerator simulates a point in history where there were billions of dollars of damage caused by fire, wind and hail 2 inches in size within the south western part of the United States. This accelerator will help users visualize, analyze and predict severe weather claim damage. It will also uncover which customers have been or will be impacted the most allowing insurers to be be more proactive than reactive resulting in improved customer service scores and reduced churn.

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Key Challenges

What is an accelerator?
Industry Accelerators are a packaged set of technical assets used to help you tackle your next data science project by addressing your most pressing business challenges. With sample data, notebooks, scripts, a sample application and more, you can kickstart your own implementation and leverage the power of Cloud Pak for Data.

  • Claims analysts/adjusters, data engineers, data scientists and analysts all need to leverage large sets of disparate data to analyze the historical impact of severe weather and predict future claim damage. Often this data is hard to find, not trusted and many steps are required to get the insights needed, leading to stagnant data and poor decisions as a result.
  • Financial analysts need timely trusted hyperlocal weather damage data to know where to allocate cash on hand before or after a predicted severe weather event.
  • When customer service is reactive rather than proactive with policyholders impacted from a severe weather event, it can lead to attrition and poor customer satisfaction scores.

Expected Business Outcome

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Improve Customer Relationships and Reduce Churn

Visualize the Impact of Predicted and Historical Severe Weather

Collaborate, Optimize, and Simplify the modelOps Workflow

By accessing customer level severe weather predictions, organizations can reach out to them proactively and avoid them signing up with another insurance company.

Use visualizations to allow for proactive planning and smarter decisions with all data in one view.

Collect and connect to all data, organize it, analyze it and infuse it into analytics dealing with severe weather damage on one platform where data engineers, data stewards, data scientists, data analaysts, devleopers and analysts all colloborate under on hybrid cloud solution.

View how on one platform many team players can work as one to be more proactive to retain customers and reduce risk.

Key Features

Information architecture

End-to-end AI Ladder application

Modular framework

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An architecture enabling you to extract meaning from your data

From cataloging data through a glossary of terms to model development and deployment, simplify the lifecycle of your AI project

Composable and extensible pattern that can be applied to new data and industries

Get Started

Start experimenting today. Download and use this accelerator in your Cloud Pak for Data instance. Refer to the README file to get started found in the Data Assets of your imported IBM Cloud Pak For Data Project.

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Highlighted Products for this Accelerator

IBM Cloud Pak for Data

Built on Red Hat OpenShift Container Platform, IBM Cloud Pak for Data accelerates your journey to AI to transform how your business operates with an open, extensible data and AI platform that runs on any cloud.

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Watson Knowledge Catalog

Help your data users quickly find, curate, categorize and share data, analytical models and their relationships with other members of your organization.

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Watson Studio

Empower your data science and AI teams to refine data and visually build and deploy models, using data on the desktop for anytime, anywhere access.

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Watson Machine Learning

Deploy, monitor, and optimize models quickly, easily, and at scale.

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SPSS Modeler

You can use SPSS Modeler flows to build machine learning pipelines that you can use to iterate rapidly during the model building process.

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IBM Knowledge Accelerator

IBM Knowledge Accelerators offer pre-created, extensive, curated glossaries to improve data classification, regulatory compliance, self-service analytics and other governance operations.

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Additional details

  • Accelerator typeCloud Pak for Data industry
  • IndustryInsurance
  • Business functionAny
  • Product and version Cloud Pak for Data,Watson Knowledge Catalog,Watson Studio,Watson Machine Learning,Cognos Analytics - Current
  • Author typeIBM
  • Company nameIBM
  • Author nameBrian Snyder
  • Last modifiedDecember 10th, 2020
  • Language English