This report uses the CB Insights Execution & Market Strength Positioning (ESP) Matrix to analyze vendors that deliver hyperlocal weather analytics in P&C insurance.
Why are hyperlocal weather analytics so critical?
- Increased severity and frequency of severe weather events have led to high losses for insurers, and thus further demand for better ways to price and respond to these events.
- Real-time, hyperlocal weather analytics can help insurers adapt their business to changing climate conditions. Preparing for and responding to weather incidents at the earliest moment can mitigate or even avoid losses.
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Who are the hyperlocal weather analytics vendors?
We surveyed the players in this space and have mapped the leading players using our ESP research methodology into 1 of 4 categories: Leaders, Outperformers, Highfliers, and Challengers.
The technology vendors that are ultimately featured in this ESP Vendor Assessment include:
- Athenium Analytics
- Benchmark Labs
- Earth Networks
- Jupiter Intelligence
What companies are adopting hyperlocal weather analytics solutions?
In this ESP Vendor Assessment, we look at which companies have adopted hyperlocal weather analytics solutions and mention the following organizations:
- Axa XL
- Intact Insurance
- Liberty Mutual
What roles or functions are buying hyperlocal weather analytics solutions?
In our discussions with weather analytics vendors and buyers, decisions and influence for these decisions often reside with the below functions or businesses and with these specific titles:
- Claims — Chief claims officer
- Underwriting — Chief underwriting officer
- Personal/commercial auto lines — Head of personal/commercial auto lines
- Property lines — Head of property insurance lines
- Risk management — Chief risk officer/chief actuarial officer
- Digital/innovation — Chief digital officer/chief innovation officer
Want to dig deeper into the hyperlocal weather analytics market?
CB Insights clients can download the entire 49-page ESP report using the sidebar to see our full analysis of this technology market.
The full report includes discussion of:
- Market need & traction
- Market stats & data
- Rich company profiles
- Insights into customer/peer adoption
If you are looking to understand the hyperlocal weather analytics vendor landscape, readying your org for an RFP, or initiating any type of vendor selection process, download this ESP Vendor Assessment.