In recent years, severe weather events have become increasingly frequent, causing significant loss of life and property damage. Insurance companies are tasked with responding quickly and efficiently to weather-related claims. It is essential for them to gather information on the size, scope, extent, and potential impacts of severe weather events so that they can respond promptly.
To that end, Amica Mutual Insurance, a provider of auto, home, and life insurance, has partnered with Canopy Weather, which provides property-specific tornado paths to the insurance and financial services industries. The partnership aims to better monitor the impacts of tornado damage and enhance service to Amica’s policyholders.
The role of Canopy in delivering property-specific tornado paths
Canopy Weather’s services allow insurance companies to rapidly gather information on the size and scope of a tornado, making it easier for them to respond efficiently to an event. Canopy delivers property-specific tornado paths to the insurance and financial services industries, using high-resolution imagery, machine learning, and AI to create damage intensity reports quickly.
According to the company, gathering information on the extent of damage caused by tornadoes can be challenging. However, Canopy Weather uses technological advancements to provide real-time data which enables insurance companies to respond proactively to weather-related claims.
Tornado Statistics and Impacts
Every year, about 1,200 tornadoes hit the US. They can cause an average of 70 fatalities, 1,500 injuries, and significant damage or destruction. Winds from tornadoes can reach more than 300 mph, and damage paths can be more than one mile wide and 50 miles long.
When a tornado strikes, chaos ensues. The first priority is ensuring that people are safe, and the second priority is to assess the extent of the damage caused by the tornado. Insurance companies must respond promptly to provide relief and compensation to policyholders.
Amica’s Use of Canopy’s Data
Through its partnership with Canopy, Amica is proactively reaching out to impacted policyholders to respond quickly and appropriately. Brian Leroux, claims innovation supervisor at Amica, stated that using Canopy’s data allows them to plan an appropriate response within minutes after a tornado has struck. Previously, gathering information about what was or was not hit would take days, but with Canopy’s data, it only takes hours.
Canopy’s response to the partnership
Matt Van Every, CEO of Canopy Weather, expressed his pleasure at serving Amica through the partnership. According to him, “Our tornado data enables them (Amica) to respond with unparalleled speed and precision, clearing the ‘information fog’ within minutes after a tornado strikes.”
The use of Canopy’s data has improved response time, reducing the time to gather information from days to hours. The partnership allows Amica to provide prompt service to its policyholders, which is essential during an emergency response.
In conclusion, the partnership between Amica and Canopy Weather is a significant development in the insurance industry’s drive to provide efficient and timely service to policyholders. Canopy’s data and analytics solutions are essential in helping insurance companies respond promptly to severe weather events. The increased need for weather solutions in the industry emphasizes the importance of investing in technological advancements to meet the growing demands of serving policyholders during times of crisis.
