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Verisk and Vexcel to Help Accelerate Insurance Response to Historic Hurricane Damage
Verisk (Nasdaq: VRSK), a leading global data analytics provider, is working with Vexcel Data Program, the world’s largest aerial imagery program, to help insurers accelerate their response to the widespread property damage wrought by Hurricane Ian. Vexcel, on behalf of its partner Geospatial Insurance Consortium (GIC), is deploying multiple fixed-wing aircraft with market-leading cameras to collect high-resolution aerial imagery.
Vexcel’s disaster imagery is integrated into Verisk’s Respond MAP platform, which delivers five-day hurricane wind forecasts and leverages artificial intelligence, geospatial technology, and robust property and claims data to analyze damage. The interactive platform helps insurers identify affected properties, assess the extent of damage, and manage on-site inspections.
“Recovering from the enormous destruction of Hurricane Ian will be a long journey,” said Maroun Mourad, president of claims solutions at Verisk. “But with pre- and post-hurricane aerial imagery from Vexcel and our advanced geospatial and property analytics, we’re able to help insurers identify damage, connect with victims, and begin the road to recovery.”
“The damage from Hurricane Ian is vast, but can vary significantly by property,” said Erik Jorgensen, CEO of Vexcel Group. “Our high-definition aerial imagery and world-class processing pipeline is helping Verisk provide real-time analytics to help guide and streamline the response of insurers to this catastrophe.”
Respond MAP is part of a wide range of solutions that Verisk offers to help insurers address catastrophe risks. These solutions include address-specific analytics to help underwrite properties, extreme event models and loss estimates to help manage the accumulation and transfer of risk, claims management solutions to combat fraud and accelerate payments, and computer software for professionals involved in estimating all phases of building and repair.
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