SPSS Statistics

How weather is transforming the insurance industry

By Archive User posted Thu October 20, 2016 07:40 PM

  
At last—there’s something you can do about the weather.

No, you still can’t change it. But if you’re in the insurance business, you can combine historic weather and event data with claims and loss data to assess changing exposures and new opportunities.

lightning-stormIt’s no secret that insurance companies pay out billions of dollars in claims every year due to meteorological events. For example, when Hurricane Matthew recently struck the southeast U.S., it caused an estimated $10 billion in damages—resulting in some $4 to $6 billion in insurance liability. But now you can strike before the weather does.

By harnessing weather data to add a new dimension to the data you already have on hand, you can create predictive models that offer weather-driven insights to help you manage risk and improve your business results.

Register now for a special webinar on Thursday, November 3, 2016 at 1 p.m. ET with Jeff Noel, director of business development for insurance solutions at The Weather Company, and learn how you can apply weather-driven insights to help reduce claims, better predict risks, flag fraud, and help improve customer engagement.

#TheWeatherCompany
#insurance
#weatherdata
#spss
#predictivemodels
#predictiveanalytics
0 comments
1 view

Permalink