Verisk Climate, a provider of enterprise climate risk management solutions, and Weather Decision Technologies (WDT), a high-technology leader in the weather industry, announced earlier this month that they’ve formed a long-term alliance to develop new, more advanced analytics and solutions focused on the business impacts from weather perils.
“By combining WDT’s weather content with Verisk’s scientific capabilities, analytic leadership, and workflow integration, Verisk Climate’s customers will have access to the most sophisticated, reliable, and easy-to-use climate-business analytics on the market. Together, we are substantially expanding the resources available to Verisk Climate’s corporate logistics, insurance, and risk management clients”
Verisk Climate now serves as WDT’s channel into the global insurance and restoration markets. Verisk Climate will build upon content from Weather Decision Technologies to inform the climate-business analytics that Verisk Climate offers across all its markets, including insurance and reinsurance, corporate supply chain, and capital markets in the United States, Canada, Europe, and the Pacific region.
Verisk Climate is a division within Verisk Analytics.
“By combining WDT’s weather content with Verisk’s scientific capabilities, analytic leadership, and workflow integration, Verisk Climate’s customers will have access to the most sophisticated, reliable, and easy-to-use climate-business analytics on the market. Together, we are substantially expanding the resources available to Verisk Climate’s corporate logistics, insurance, and risk management clients,” said Kyle Beatty, president of the Verisk Climate division, in a statement.
“Verisk Climate and WDT share a vision to transform how businesses prepare for and react to the weather. WDT’s focus on developing highly reliable, near-real-time weather content will enable a new generation of services that Verisk Climate will offer to its clients globally,” said Mike Eilts, president and CEO of WDT, adding that Verisk Climate “is an ideal ally” to provide value to the global insurance industry.
Weather Decision Technologies, Inc. provides organizations with weather decision support on a global scale.
WDT offers specific expertise with Big Data as it applies to hazardous weather detection and prediction, forecast modeling, decision analytics, GIS, mobile apps, and interactive mapping.
WDT employs the WeatherOps forecast team, staffed by experts who provide global asset projection and commodities-trading decision support.
WDT maintains operational offices in Norman, Okla. and Houston, Texas.
Verisk Climate provides software, data, and analytics for enterprise climate risk management.
The organization’s solutions help corporations improve resilience and profitability while enhancing service to their customers. Manufacturers, distributors, and retailers rely on Verisk Climate to accelerate revenue growth through more accurate forecasts of product demand and to promote stable operations by helping mitigate supply chain risk.
Insurance carriers can apply Verisk Climate solutions to help improve customer service and reduce their property combined ratios through more accurate risk selection and lower claims expense.
Verisk Climate draws on disaster risk models from AIR Worldwide, vertically integrated data from the Verisk Analytics family of companies, and environmental data and expertise from its Atmospheric and Environmental Research (AER) unit.
Sources: Weather Decision Technologies, Verisk Climate