EigenRisk, a provider of catastrophe risk management technology, has entered into an agreement with Weatherwatch, an Australian company specialising in storm and weather risk management services.
The partnership will bring Weatherwatch’s hail event footprints into EigenRisk’s EigenPrism catastrophe risk management platform.
The companies said the agreement is intended to provide insurance and risk professionals with additional information to assess hail events in Australia and support faster responses following severe weather.
“As property insurers and risk managers seek to improve their ability to prepare for and respond to the increasing number of weather-related disasters around the globe, our partnership with Weatherwatch will provide them with enhanced insights and faster response times for hail events occurring in Australia,” commented Deepak Badoni, President at EigenRisk.
Weatherwatch develops weather information and risk management services for businesses and organisations across different sectors. Its services are designed around sector-specific requirements and are supported by meteorologists with experience of Australia’s weather conditions.
The company’s products include HailTracker, which provides hail forecasting, alerts and real-time mapping, and MetCentre, a weather forecasting system. Weatherwatch said its services are intended to help organisations monitor weather conditions and make decisions in response to severe weather risks.
Under the agreement, Weatherwatch’s post-event hail footprints will be incorporated into EigenPrism. EigenRisk said the addition will broaden the platform’s access to hail-related information and support insurance industry users assessing the impact of severe weather events.
“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,” added Anthony Cornelius, Managing Director of Weatherwatch.
According to EigenRisk, the agreement combines Weatherwatch’s Australia-specific hail and weather data with EigenPrism’s catastrophe risk management capabilities, giving users access to additional information when evaluating weather-related exposures and events.
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