Nature meets technology – using data analytics to protect your business from a hailstorm
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Last year in the United States, severe thunderstorms – often accompanied by hail – caused almost USD 20 billion in insured losses. Yet many businesses and public entities with hail exposure have gaps in their coverage. With the traditional hail market capacity changing, and with no sign of hail losses slowing, Insureds will need to find alternative ways to cover this risk.
In our latest webinar, we discussed why the United States, namely the middle of the country, is prone to large hail outbreaks. We did a deep dive into our new parametric product, HAIL, that can help protect businesses from the financial impact of a significant hail event, such as physical damage, lost revenue due to business interruption, or significant retentions in traditional property policies. We also touched on the technology and capabilities of our data provider, Corelogic, and how significant hail events are tracked, monitored and reported.
Want to learn more? Listen to the recording or contact us!