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From claims to underwriting, new Benchmark API directly integrates with insurers’ internal claims systems, streamlining workflow and risk evaluation
JERSEY CITY, N.J. , Aug. 09, 2021 (GLOBE NEWSWIRE) -- Insurance claims and underwriting teams can now access detailed hail, wind, lightning and hurricane wind analytics directly within their internal claims and policy systems with a new application programming interface (API) for Benchmark®, Verisk’s weather analysis solution. Verisk (Nasdaq:VRSK) is a leading global provider of predictive analytics and decision-support solutions.
Benchmark is a powerful weather solution that provides claims and underwriting teams with comprehensive location-specific weather peril data to help verify the cause of damage and the date the damage occurred. With the new API for Benchmark, insurers can integrate that data into the applications and solutions they use daily to streamline the weather-related loss workflow for property and auto claims as well as evaluate the risk of weather events for underwriting purposes.
“By harnessing this API, insurers can provide everyone across their organization — from underwriters to adjusters — with a single, easily-accessed data source to view the weather data they need to serve their customers,” said Rich Della Rocca, president of claims at Verisk. “This new, enhanced service allows for greater consistency and more efficient underwriting and claims processes.”
Benchmark offers natural hazard analysis reports from weather events in near real time, including location-specific loss dates and history analysis for hail, wind, lightning, and hurricane wind. Benchmark helps insurers minimize guesswork by field adjusters, reduce the number of inspections, control loss adjustment costs more tightly, speed up the claims process and reduce cycle times.
To learn more about the new Benchmark API, visit Verisk.com.
Verisk (Nasdaq:VRSK) provides predictive analytics and decision support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook and YouTube.