Location, Inc. Launches HailRisk™ Part of the RiskSuite™ Platform for Insurance
The
HailRisk analytics takes the innovative approach of predicting the property locations that are most susceptible to hail damage loss claims within any hail climatology hazard zone, and for any
"By parsing hail-prone areas into precise locations of greatest and lowest claims risk, HailRisk captures a high degree of differentiation," said Dr.
For any weather-related hazard—including hail—the susceptibility of insurance loss is due to the interaction of the hazard with property vulnerability. Vulnerability arises from the interplay of people, structure characteristics, and location.
Using this approach and an industry database made up of millions of policy records,
Quantifying the lift HailRisk analytics provides when applied to a holdout data set of over
To learn more about HailRisk analytics, contact
About RiskSuite for Insurance
The first full cross-portfolio suite of risk assessment analytics, RiskSuite uses the probability of risk damage occurrence in addition to the severity, to accurately predict crime, fire, hail, and non-weather-related water insurance losses by location. To learn more about RiskSuite, contact
About
RiskSuite and HailRisk contain no red-lining.
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