weather solutions for the insurance industry · combining to deliver world class client service and...

Storms, lightning and hail, all meteorological disturbances which cause multi-billion pound damages every year. MeteoGroup provides fast and accurate weather solutions for the insurance industry throughout the claims process; from prevention and claims handling, to risk management.

Effective Prevention Prevent damages. Save costs. Retain customers.

Sustainable Risk ManagementControl risk exposures. Calculate premiums. Improve efficiency.

Optimised Claims ManagementOptimise processes. Assess damages. Avoid costs.

Weather solutions for the insurance industry Quality, accuracy and innovation

MeteoGroup InsuranceEmpowering the world to master the weather

We translate complex weather data into meaningful business decisions every day to assist our customers in making critical decisions more effectively.

MeteoGroup Meteorological know-how and predictive analytics expertiseMeteoGroup is one of the world’s leading global full-service B2B weather solutions providers. With 30 years of expertise in the weather industry, we provide accurate and up-to-the-minute weather information and dependable data solutions, ranging from simple forecasts to deep customer workflow integration. Sharing our passion for weather, cross-functional agile teams pioneer innovation in meteorology, leverage big-data technologies and state-of-the art visualisation, combining to deliver world class client service and satisfaction.

create value save costs minimise risk manage environmental impact


Our services enable our customers to:

Traders assess the buying or selling of gas and electricity. The highways industry plan winter road maintenance.

Shipping companies assess route optimisation. Insurers verify damage reports.

Retailers optimise their sales forecast. The media display sophisticated broadcast weather solutions.

Our team of expert and experienced meteorologists is available 24/7 to deliver the highest quality analysis and advice. With over 450 employees operating in Europe, Southeast Asia and North America, MeteoGroup is in an ideal position to provide local services to a global audience.

Unique Weather Station Network – More DataIn conjunction with a number of partners, MeteoGroup operates its own private weather measurement network with approximately 1,600 stations worldwide and has access to an additional 18,000 national weather service stations. The network of 930 proprietary weather stations is the highest density of private weather stations in Central Europe. Our weather stations are entirely compliant with international weather observation standards.

Modelled historical time seriesKnowledge of longstanding climate conditions is essential for risk assessments, site appraisals and long-term planning for many industries. MeteoGroup has based its modelled historical time series on an improved statistical method based on ECMWF data (European Centre for Medium-Range Weather Forecasts).

World Class Weather ModelsIn contrast to most weather companies, MeteoGroup invests in five weather models that are acknowledged as the most accurate: ECMWF, UKMO, GFS, Hirlam and WRF.

Leading Forecast QualityOur own statistical weather forecasting model approach is applied using the qualities of several models, and combines the local climatology by statistical means with the overall forecast weather situation. The result is a precise forecast of international leading forecast quality, attested in numerous independent tests.

Early Severe Weather WarningsMeteoGroup operates its own severe weather centres and is a leader in the early identification of severe weather conditions.

Innovation by Research and DevelopmentMeteoGroup is Europe’s largest private sector weather provider with over 150 meteorologists and a department focusing exclusively on meteorological research and development. We use the best meteorological models and techniques enabling us to continuously improve our products.

Certification MeteoGroup attained a combined Multi Site Certification for quality, environment, occupational health and safety: ISO 9001, ISO 14001 and OHSAS 18001. We are one of only a few private sector weather providers in the quality circle weather consultation of the German Meteorological Society (DMG).

MeteoGroup operates 1,600 of its own weather stations worldwide, and has additional access to approximately 18,000 national weather service stations.

Warning levels:

• Pre-alert

• Alert

• Updates

• All-clear signal

Pre-alert

Alert

Alert

Alert

Storms/hurricanes

Heavy rain

Freezing rain / black ice

Thunderstorms (including hail)

Heavy snow

Air/ground frost

Extreme frost

Extreme heat waves

Slippery road surfaces

Forest fire

Warning colors: Types of severe weather:


Severe weather warningsEffective prevention: Stay one step ahead of the weatherMeteoGroup is a specialist and innovation leader in the early detection of severe weather and one of the few private weather services to operate its own severe weather centres. Severe weather warnings support insurers in preventing damages; MeteoGroup’s special alert service is available to your clients, allowing preventative measures to be introduced quickly.

Save costs with early and

accurate warnings

Customised integration into emergency plans

and IT-systems

Optimise deployment of resources

through automated internal processes

Increase customer loyalty and satisfaction

through improved customer contact and prevention of damages

Precise and detailed warningsMeteoGroup’s weather experts provide warnings of extreme weather conditions worldwide, 24 hours a day, 365 days a year using an innovative warning system.• Precise alerts up to 48 hours in advance for many European countries• Alerts for all claim relevant disturbances• Immediate updates as the weather situation evolves

All warnings are provided with geo-coordinate accuracy, from multiple sources:• Innovative polygon warning system• Radar-based technology for small-scale severe weather events• Customised warning areas and alarm thresholds

Individual thresholds for optimised warning managementA four-tiered warning system provides information about the extent and strength of the expected severe weather. Warning level thresholds for desired locations can be tailored according to present geographical, natural and meteorological factors, and can be integrated into emergency plans.

Risk potential

MeteoGroup Online-Portal

• Precise severe weather alerts

• Customised integration of alerts into IT-systems

• Weather warning reports are delivered via XML, CSV or KML files

• Via FTP-server or a web service with app integration

• Weather alerts are sent directly via the MeteoGroup platform

Data Feed Delivery SMS or Email Delivery

Innovative free hand polygon warning systemIn contrast to a fixed warning grid, MeteoGroup’s concept is based on a flexible polygon principle. This allows warnings to be set individually according to requirements for a defined area. Warning thresholds can even be adjusted to individual levels according to customer preferences.

Easy to understand warningsAlongside exact location information, every severe weather warning contains detailed information including:• Type of severe weather expected• Warning level and warning parameters

(e.g. wind gusts > 100 km/h)• Claim validity period

Warning polygons: Warnings are provided for post codes and geo-coordinates that are intersected by the warning polygon and are over 1,500m in height.

Route accuracy severe weather warnings: Severe weather warnings with route accuracy through a customer portal.

Delivery methods

Accurate and reliable forecasts

Using past events to anticipate the future We analyse over 200 weather factors to build our predictive model calculations:

We leverage over 30 years of expertise in the weather industry using multiple data sources:

0 12

At regional and postal code level

React quickly andadjust resources

immediately

Historical damage reports

Per claim and damage type (car/building)

Assess financial impact

Meteorological data

Predictive forecast model

Number of expected damage reports

Analyse trends and define KPI’s

Cumulated claims for the last 7/14/21 days

Cost and timesavings

More information on assessment of forecast reliability

Daily calculation based on the previous

day’s weather

Hail detection and analysis

Our own weather station network

Radar observations

Lightning measurements

+ =

Timely and accurate claims forecasting is a big challenge for insurers. Severe weather events require processing a high number of claims in a very short period of time. Insurers have to react quickly, adjust their resources immediately and assess financial impacts in order to project potential financial losses. MeteoGroup provides the first claims forecasting solution for the insurance industry, providing a detailed forecast of expected claims and the correlating relationship between weather events and historical damages.

Detailed forecast of claims immediately after a severe weather event:

ClaimsForecastThe first claims forecasting solution for the insurance industry


ClaimsForecast provides a detailed forecast of expected claims:

Take Actions &Assess Financial Impact

Phase

2Classification of the Weather Event

Phase

1 CommunicationPhase

3 Monitoring &Next Steps

Phase

4

• Adjustment/allocation of resources

• Assess financial impact to project potential financial losses

• Define the escalation level

• Overview of affected units

• Anticipate workload and task allocation

• Define content of answers to client questions and timelines

• Define templates for faster claims processing (for similar claims)

• Analyse and adjust the claims process for more efficiency

• Work on backlog and exceptional claims

The challenge:• Excellent customer service without succumbing to considerable backlogs• Optimising the claims process through quick and efficient claims management

The solution:Using precise predictive analytics provided by MeteoGroup, Gothaer achieved a high level of efficiency and an automated claims management process.

The results:Gothaer were able to allocate and adjust resources quickly, plan potential financial impact efficiently and monitor qualitative performance indicators. These automated escalation levels and processes improved overall reactivity and quality of their services.

Over 218,000 historical claims analysed

More than 22,000 weather correlations tested

Over 80% of total claims forecast

GOTHAER success story

“Accumulation events require processing high numbers of claims in a very short period of time. Customer expectations are high, requiring quick support and monitoring of the situation. Reliable claims forecast reports for specific weather events enable us to react more quickly and efficiently. Possible claims impact can be quantified just one day after a severe weather event, equipped with this instant and informed data the accumulation process can be activated if a defined threshold of estimated claims is reached. With the help of the claims forecast we have implemented a defined activity plan, improving our capacity management and helping increase operational productivity. Our actions aim to tackle every stage of the process.”

Uta BuchholzDepartment Head Central Service & Claims Management, Gothaer Schaden-Service-Center GmbH


Digitalised and automated claims processes

Precise and accurate weather information

MeteoGroup provides insurers and adjusters with immediate access to all relevant weather data, enabling you to review and substantiate credible claims. Saving you time and money, we provide a clear statement for all relevant weather events, helping you to identify invalid claims. All data is easily and reliably accessible via the ClaimsMaster online platform or through a direct integration into your systems.

Reduce claims processing time with accurate insight into causes of damage in just a few seconds

Claim validation

• Yes/no-answers if a claim is valid• Address specific information about storms, lightning, hail and heavy rain• Customised adjustment of meteorological threshold values and special parameters

• Incorporated analysis of windstorm areas• Statistics to judge extraordinary events• Forecaster expertise that can be used in a court of law

• Immediate delivery of a weather report• Demonstrative weather maps with the option to download and further process in GIS• Worldwide data retrieval for all available weather stations

Save costs with consistent and accurate

claims regulation

Analysis of events

Increase customer satisfaction with a clear statement

of reliability

Data delivery

ClaimsMasterOptimised Claims Management

When processing single or multiple claims the online-portal ClaimsMaster provides exact location based data about storms, lightning, hail and heavy rain. Information includes maximum wind gusts, lightning strikes and the size of hailstones, all of which can be downloaded as a report.

Example extracts of weather reports

Hail information - exact locationDamage location address: DE-79098 FreiburgDamage location geographic coordinates: 47.9939°N/ 7.8468°ODamage location height: 282 mDamage date: 13.05.2015Hail: Yes

Hail has been detected at the damage location.Maximum hailstone size: 4 cm

Lightning information - exact locationDamage location address: DE-44135 DortmundDamage location geographic coordinates: 51.5127°N/ 7.4750°ODamage location height: 94 mDamage date: 09.06.2014

Lightning strike: YesLightning strikes within 1 km of the damage location have been detected.

Closest cloud-ground strike to damage location: Time: 09.06.2014; 19:51:43 Distance: 0.313 km

Surge damages: Yes Lightning strikes within 15 km of the damage location have been detected, potentially causing damages through overvoltage.

Date Time Distance (km) Power (kA) Lightning type Latitude Longitude09.06.2014 19:51:43 0.313 -6.30 CC 51.51 7.47709.06.2014 19:42:36 0.368 -3.70 CG 51.514 7.47909.06.2014 19:51:44 0.428 -8.90 CC 51.51 7.47909.06.2014 19:51:51 0.665 -8.20 CG 51.509 7.48209.06.2014 19:40:34 0.715 82.10 CG 51.518 7.4709.06.2014 19:38:28 0.739 3.70 CC 51.507 7.48109.06.2014 20:56:06 0.837 -11.60 CG 51.505 7.47709.06.2014 19:50:27 0.949 8.30 CC 51.506 7.46709.06.2014 19:50:27 1.032 -4.60 CC 51.508 7.46209.06.2014 19:51:43 1.046 -8.40 CC 51.503 7.474

Maximum hailstone size in a radius of 8 km

All lightning strikes in a radius of 8 km

The 10 nearest lightning strikes in an 8 km radius:


MeteoGroup provides reliable worldwide modelled time series for efficient analysis and risk management. We use the most comprehensive datasets available, created from ECMWF data and our own downscaling methods.

• Assessment of local meteorological conditions and exposure risk of sites

• More profitability through reliable calculations of premium costs• Calculation of weather indices and triggered payoffs• Detailed analysis and calculation of trends and long-term expected

values• Climate trend evaluation and assessment

Modelled historical time seriesMeteoGroup provides real and modelled time series for the last 35 years, supplemented by up-to-date reliable data.

• Global coverage from 72° North to 50° South• Resolution to 0.125° (~16km)• Data going back more than 35 years (up to 1979)• Complete time series in daily outputs• Continuous updates with the latest modelled data and follow-up

of the time series• Easy data access at any time via an automated web service

Historical time series for weather stationsBased on an improved statistical method, MeteoGroup provides modelled historical time series for weather stations. A measurement period of two years is sufficient to generate a time series for a weather station location going back more than 35 years. Our own professional weather stations and those of our customers are used in the time series.

Long-term forecasts and trends for 15, 35 or 365 daysBased on modelled historical time series, precise long-term forecasts (15 to 35 days) or long-term expected values are provided. In order to assess the likelihood of the forecast, we provide additional fluctuations (quantiles) and details of the extreme weather scenarios possible.

Wind frequency distributionWind frequency data is helpful in supporting the planning of construction work and risk management of scaffolding. Wind rose diagrams can be produced for any weather station, over any defined period, showing the frequency of wind speeds from particular directions.

Fully customisable service:• Freely defined periods• 4 to 36 sectors can be chosen• Inserted values as pure data material

Modelled Time SeriesEvaluate risks by understanding historical climate conditions

Immediately after a severe weather event MeteoGroup provides footprint data for wind, hail and precipitation.

• Assess the impact of storms, hail and precipitation events quickly and the correlating footprint information with customer data

• Analyse multiple claims at a time and improve damage projections and loss functions with accurate and reliable information

Geo-intelligent solutionsFootprint data can be integrated into the existing geographical information systems of insurers, enabling individual combinations of customer and claims data.

• Daily calculation and delivery of footprint data• GIS-SHP files or CSV file delivery• Visualisation via the ClaimsMaster online-portal with the option

to download• Fast and comprehensive assessment of severe weather events• Reliable control, analysis and forecast of cumulated losses• Early indication of necessary actions

Hail detection statistics for GermanyWith hail statistics for Germany, MeteoGroup offers temporally and spatially precise information on the frequency of hail events. Radar images, lightning data and model predictions of the wind field and atmospheric instability have been evaluated from 2004 onwards in a 2x2 km grid. The statistics provide information on the frequency of hail events in the last 10 years, with 90% accuracy in the estimation of hail stones sizes. Hail statistics are available for further processing in geo-information systems (GIS).

Based on radar images, lightning detection and model predictions of the wind field and atmospheric instability.

Hail statistics 2005 - 2014: Maximum detected hailstone-size.

Based on weather stations, forecasting models and radar data.

Based on radar and weather station observations.

Hail detection (Germany)

Windstorms and interpolated windfields (Europe)

Precipitation sums (Germany, Netherlands, Belgium and Luxembourg)

Footprints GISAnalyse and evaluate damages and risk

MeteoGroup is a leading full-service, global weather business. Our team of expert and experienced meteorologists is available 24/7/365, delivering accurate and dependable weather information to weather-critical businesses. Founded in 1986, the company has an unrivalled reputation for quality and innovation in weather forecasting.

Contact usE. [email protected] W. www.meteogroup.com

Test us!Would you like to know more about our weather solutions and forecast quality?

Partners

weather solutions for the insurance industry · combining to deliver world class client service and...

Documents