Insurtech EigenRisk has added Australia-based Weatherwatch storm resources to its global catastrophe risk management platform, giving insurers, brokers and risk managers a sharper view of hail events across Australia.
EigenRisk said its new agreement with Weatherwatch will make the firm’s hail event footprints available through EigenPrism, its catastrophe risk management platform.
The agreement gives risk and insurance professionals more information before, during and after Australian hail events. It also adds local meteorological depth to a platform already used by insurers, reinsurers, MGAs, brokers and risk managers for catastrophe analytics, alerts and reporting.
Deepak Badoni, President at EigenRisk, said property insurers and risk managers want better ways to prepare for weather-related disasters and respond after events occur. According to Badoni, the Weatherwatch partnership gives clients stronger insight and faster response times for hail events in Australia.
Weatherwatch, established in 1976, provides storm and weather risk management services for Australian businesses and organizations. The company builds tailored weather insights for different sectors and uses meteorologists with experience in Australia’s extreme climate.
Its services include HailTracker, a forecasting, alerting and real-time mapping system for hail events. Weatherwatch also operates MetCentre, an advanced weather forecasting system used to support operational weather decisions.
Anthony Cornelius, Managing Director of Weatherwatch, said adding the firm’s hail post-event footprints to EigenPrism expands Weatherwatch’s reach across the global insurance sector. He said the platform helps clients prepare for and respond to severe weather events with more speed and precision.
By integrating Weatherwatch’s hail post-event footprints into the EigenPrism platform we’re able to expand our reach across the global insurance industry. The platform enhances our ability to deliver timely and actionable insights to help clients in all sectors prepare for and respond to catastrophic and severe weather events with greater speed and precision.
Anthony Cornelius, Managing Director of Weatherwatch
EigenRisk operates as an independent insurance technology firm. The company helps reinsurers, insurers, MGAs, brokers and risk managers manage catastrophe risk, improve customer engagement and raise operational efficiency.
Its cloud-based platform gives users access to data management, geo-visualization, analytics, reporting, modeling, alerts and APIs in one system. EigenRisk combines those functions with hazard data, event projections and simulations from more than 40 public and private sources, giving risk teams a broader, more dynamic view of catastrophe exposure.
