Extreme weather – Increase competitiveness with UBIMET
The weather is a significant factor impacting insurer profitability. UBIMET can help insurers manage the weather factor with products and services which: identify and minimise risks, optimise processes, reduce losses while at the same time increasing customer retention and reducing costs.
Four CIS Modules for highly precise historical weather data:
Predict accumulation losses and determine action plans
When a storm is predicted then anticipated damages needs to be calculated by insurers. The high-resolution UBIMET impact analysis provides a solid base for reliable accumulation losses calculations and management.
UBIMET’s damage forecast is based on the use of Predictive Analytics methods, prior to a severe storm, enabling optimisation of proactive control measures. The innovative damage forecast provides a reliable forecast of expected damages several days in advance. Weather-controlled accumulation losses concepts enable a timely increase of internal capacities, improved management of service providers enabling the insurer to guarantee a consistently high service level in damage processing.
- Impact analysis
- Damage forecast
- Hail Analysis
- Severe Weather Warnings
- Accumulation losses expert report
Recognise and assess risks
The insurability of risks and the calculation of risk-adequate premiums are one of the central challenges in risk management for insurers and reinsurers, especially in times of climate change and an increasing number of damaging weather events. At the same time, the market for weather insurance to protect against adverse weather conditions is growing. With global reanalysis data, specialized services and statistics, UBIMET provides reliable and professional analysis that integrates with internal risk analysis processes and financial models. If weather trends and risks are recognized and taken into account in good time, the profitability and yield of individual insurance solutions can be sustainably increased.