When a claim is filed it’s often referred to as “the moment of truth” in the insurance industry. Today’s insurers must balance resolving claims quickly and fairly, while also making sure they aren’t paying for claims that are fraudulent or weren’t impacted by a recent weather event. Some of the benefits of using Baron weather intelligence during the claims process include:
- Accurately validating claims by identifying the actual cause of loss (e.g. Wind vs. Flood)
- Understanding the impact of severe storms on policies through the use of real-time maps
- Reducing loss adjustment expenses by allocating resources to where they are needed most before significant weather events hit
- Reducing instances of fraud by verifying the impact of weather events on specific policies
- Validating claims that were impacted by specific weather events to trigger reinsurance coverage
Baron offers insurers a variety of tools to monitor and verify claims, such as a REST API that allows you to pre-fill vital weather information into your claims solutions, as well as a toolkit to overlay Baron weather data into existing ArcGIS maps. To learn more about how Baron can enhance your claims processing, please read below.