Insurance Solutions
There is more that you can know. There is more that you can do.
At Signal4D, we’ve developed robust monitoring, alerting, and advanced analytical capabilities for the insurance industry to understand and mitigate environmental risks and impacts to their book of business.
Signal4D insurance solutions are built upon our proprietary, highly performant, and scalable platform that allows companies to monitor and analyze points, paths, and areas over time (historical, current, and future) important to the organization and its customers.
OmniWatch™
Boost engagement and reduce property loss with real-time monitoring and alerting
- Monitor your book of business in real-time for current and forecasted weather-related events (e.g., flooding, hail, high winds, snow, wildfire) and traffic incidents
- Send actionable alerts to your customers that provide guidance on how they can protect themselves and their vehicles, homes, and personal property from risk
- Empower your customers to choose the points and paths they would like to have monitored and receive personalized weather and traffic-related alerts
Weather Risk Analytics
Enhance financial performance for your organization
- Price risk better and improve loss ratios by incorporating weather-related risk into carrier actuarial models
- Predict how weather-related events are likely to impact a carrier’s portfolio and book of business in the future
- Optimize underwriting by identifying where weather-related disasters are predicted to be most frequent and severe
Enhanced Usage-Based Insurance (UBI)
Improve ability to assess driver behavior and risk
- Identify weather and road conditions that most impact driver safety and claims
- Develop pricing for trip-based insurance based on driver behavior and weather risk
- Use telematics to process claims faster and with greater confidence
Weather-Based Claims Prediction
Provide insights to optimize claims, expedite servicing, and optimize efficiency
- Identify paths and areas most exposed to loss from weather perils and understand how many policyholders could be impacted
- Predict likelihood and financial impact of claims at different threshold levels
- Leverage weather insights to better prepare call centers for claims events and to position adjusters in areas of greatest need
Benefits
Signal4D insurance solutions identify, monitor, and alert on environmental risks and impacts for your book of business and for your customers.
Enhanced engagement opportunities (as many as weekly depending on the configuration)
Improved customer loyalty and retention, and deeper client relationships with increased value
Reduced property damage/loss and claims to process with more proactive responses and expedited claims servicing
Increased visibility with a holistic view of your book of business and knowledge of risks and impacts in real-time
Use Cases
Signal4D insurance solutions can help reduce the risk of your book of business while protecting your customers and creating a more efficient claims process.
Hail Alerting & Claims Processing
Using our OmniWatch™ solution, an insurance company was able to provide actionable alerts to their customers to move their cars and other damageable property into a covered space within the next hour due to an impending hailstorm. Using this information, the insurance company was able to protect their customers, minimize property damage/loss, and proactively expedite their claims process.
Weather & Driving Conditions
Using our Weather Risk Analytics solution, Signal4D found that most winter-time accidents occur when temperatures are near freezing and it has snowed within the last hour. Using this information, insurance companies can help customers prepare for routine weather changes and traffic incidents, thereby reducing accidents and potential claims.
Predicting Fire Risk Exposure
Using Signal4D’s monitoring capabilities for insurance, Signal4D can monitor the National Power Grid, providing environmental risk insights and determining what points (e.g., homes), paths (e.g., commute), and areas (e.g., neighborhoods) are most exposed to weather-related risks like wildfires. Carriers can use this information to predict how many policyholders’ homes could be impacted by a weather event and prepare accordingly.