Biggest Storm for several years forecast to hit UK

Significant storm claims across the UK are likely early next week based on weather forecasts combined with Business Insight’s perils computer model ‘Storm Insight’.

The Storm Insight model considers the variation in peak wind gusting across the UK together with factors such as topography, urban density, the local built environment and the likely state of repair of buildings to predict annualised loss estimates right down to individual property level.

Storm Insight is an unrivalled and powerful probabilistic model giving and invaluable perspective into the distribution of storm risk across the UK.  The impact of climate change is likely to result in future storm losses increasing so it is more important than ever for insurers to fully understand risk as they write business in new areas.

Read press release here: Press Release – Significant losses likely based on forecast Storm due to hit UK this Monday

Business Insight partners with Insurance Initiatives

Business Insight has signed an agreement with Insurance Initiatives to supply its latest suite of Perils Insight models via the Insurance Initiatives data enrichment Hub at building level.

This presents an exciting opportunity for insurers to utilise the latest technology and access the full range of the best available databases relating to credit risk, claims validation, fraud assessment and ID verification, alongside perils risk assessment data at the point of quotation.

Read press release here: Press Release – Business Insight partners with Insurance Initiatives