A big thank you to La Tribune de l’Assurance for addressing a fundamental subject for insurers: weather claims and the means to manage it effectively, while respecting the customer relationship!
Weather Claim Control and RiskWeatherTech have just launched their new study regarding the 5-year impacts of climate change on insurance.
Transformation factors, impact scenarios, insurance balances evolution, mitigation solutions... the study provides a complete overview of the changes to come.
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To prepare the Las Vegas CES, Eficiens wanted to highlight French insurtechs.
We are happy to have been chosen by Eficiens, to explain our model and present our vision of the insurance Tech market's evolution !
Weather Claim Control is member of Finance Innovation
As contributor of the digital world and strongly involved in climate issues, Weather Claim Control participate actively in supporting banks and insurance.
Weather Claim Control is thrilled to join Insurtech France, a very talented association with more than 250 members !
We are eager to share our experiences and participate to the digital development of insurance world.
To deal with increasing climatic events, the insurtech Weather Claim Control developed an expert application which optimizes claims’ compensation.
Weather Claim Control‘s team of meteorological engineers, data scientists and IRD claims handlers have been working for over 10 years on weather sensitivity for insurance companies.
While ensuring excellent customer relationship, Weather Claim Control assists claims handlers in the contractual application of weather insurance and makes a significant contribution to improving its clients’ combined ratio.
Weather Claim Control analyses a complex meteorology to optimise and simplify the management of weather claims
Climate claims already analyzed
Weather Claim Control ROI *
Management time saved on weather related claims *
Claims handlers' satisfaction score *
* Based on surveys conducted by insurance companies
The Weather Claim Control application is specifically designed for claims staff and General Agents. It fits seamlessly into the claims report process, especially by phone, without altering it.
Based on expert models that incorporate parameters relating to local climatology, geography and building standards, Weather Claim Control provides guidance for:
Service As A Software
An application immediately available, without IT impacts
Our product is an API that can be easily connected to all systems (ERP, website ...)
Easy to set up, adapted to your specificities
A clear decision in a few seconds: just 3 information and 1 click are needed
Average percentage of claims that are not in line with terms of policy (wind gusts below defined thresholds) *
Average percentage of claims in which no lightning strikes were recorded*
* Risk Weather Tech / Weather Claim Control studies and analysis,
from historical claims analysis
Insurance companies open and settle claims of climatic origin every day of the year, even when there has been no exceptional or publicized event.
Our observations and studies show that 25% to 45% of these claims do not fulfill the terms of policy, as far as meteorological conditions are concerned.
We therefore recommend to systematically check weather conditions the very moment policyholders report their claims: as a consequence, the claims costs is significantly reduced, technical ratios are immediately improved and weather-related claims are under control, while the quality of customer relationships is maintained.
To give an accurate assessment of the atmospheric conditions at the time of a claim, Weather Claim Control uses several sources of data, including Météo France.
However, our meteorological engineers have developed a model that selects the weather stations eligible for Weather Claim Control.
Our model eliminates stations considered atypical, thus providing a very objective and accurate vision of the local intensity of weather phenomena!
The weather stations’ network provides good information on weather conditions. However, between some stations, local phenomena can occur and not be recorded.
In order not to prejudice the policyholders’ interests and to avoid complaints, Weather Claim Control has developed expert models to identify very localized phenomena. For example, these models can spot strong winds (convective gusts...) circulating between stations.
The recommendations issued to claims handlers therefore also include meteorological events (winds, lightning...) that would not be traced by meteorological stations.
We adapt the configuration of our application to the contractual specificities of each customer.
The Weather Claim Control application does not simply provide meteorological data: it is an expert and ergonomic decision support tool for claims handlers, which takes into account the contractual thresholds for events, the geographical characteristics of the policyholders, the local construction standards...
No IT development is required to deploy the Weather Claim Control application: our tool functions in SAAS mode.
With most of our clients, claims staff access the application through their browser.
Some of them decided to integrate the FTP link into the company's intranet portal, which has no impact on the IT.
The Weather Claim Control application provides a number of indicators: distribution of controls carried out for each type of event, number of “prima facie non-cases”, percentage of claims examiners using the application, etc.
The control panel also shows the savings made and the ROI (return on investment) obtained using the application.
The claims department can thus enhance the value of its control actions within the insurance company, and also compare itself to the other companies using the tool (average, base 100 indicator).
Weather Claim Control provides insurers with many benefits:
The data necessary for the application operation as well as the statistics do not contain any personal information and are in total compliance with the GDPR.
The application only monitors the results provided and calculates their value.
Surveys carried out by companies that use climate control show that clients appreciate: