Specialty insurance underwriter HCC Specialty has formed a strategic alliance with Maryland-based Weather Analytics, a provider of precision climate, and weather data and analytics. Through this strategic alliance, HCC Specialty will have access to historical and real-time global hourly data for more than 100 weather variables and indices. Weather insurance policyholders now will be able to access Weather Analytics’ weather verification data using a smartphone application.
According to Sean Curtin, senior vice president of HCC Specialty’s Contingency and Commercial Package divisions the launch the new weather insurance products, verification tools and delivery systems, “will quickly expand the overall sports, hospitality, entertainment and leisure markets.”
Using a smartphone application, HCC Specialty weather insurance policyholders can access relevant data for their specific area of interest through Weather Analytics’ global coverage of hyper-local climate data. This proprietary technology provides policyholders a revolutionary platform to verify precise data specific to their location, while simultaneously streamlining the claims process in the event of a covered loss.
Weather Analytics data combines over three decades of statistically-stable climate history as well as current and forecast weather content coupled with proprietary analytics methodologies.
Headquartered in Wakefield, Massachusetts, HCC Specialty is a managing underwriter of specialty insurance products, including high-limit disability, crisis management, contingency, DIC, prize indemnity, international medical and travel medical insurance, and special program business. HCC Specialty is a division of HCC Insurance Holdings, Inc.
Was this article valuable?
Here are more articles you may enjoy.