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Average Ratings 0 Ratings

Total
ease
features
design
support

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Write a Review

Description

In recent decades, extreme wildfire conditions have surged by 50% as a result of climate change, leading to a staggering $31 billion in property damages. Consequently, many insurance firms have chosen to withdraw coverage from homes and businesses in California, significantly impacting their profitability. Terrafuse's innovative wildfire AI risk scores assess the true likelihood of property combustion a year in advance. Our wildfire risk solution empowers insurance providers to underwrite a broader range of businesses while limiting non-renewals to properties deemed to have the highest risk of burning, and it allows them to price premiums according to actual risk levels. We enhance our models by analyzing over 50 interconnected environmental factors, such as building density, dead fuel moisture, and vegetation types, to evaluate loss severity over time. Additionally, we incorporate atmospheric physics into our models through sophisticated machine learning methodologies, ensuring a comprehensive understanding of wildfire risks. This approach not only aids in better risk assessment but also fosters a more resilient insurance market in the face of escalating wildfire threats.

Description

Benchmark offers timely natural hazard analysis reports for weather-related events, detailing property-specific loss dates and historical data pertaining to hail, wind, and lightning, all accessible through Verisk platforms like Xactimate and XactAnalysis. Both existing and new users are able to find the Benchmark integration within their claims on XactAnalysis, as well as in the “documents” section of Xactimate. Users can conveniently retrieve the reports by utilizing the “select an action” drop-down menu in XactAnalysis when handling claim assignments. The source of Benchmark's data for both XactAnalysis and Xactimate is Respond™, which equips users with near real-time analysis and forecasting services for weather events, including localized assessments for various natural hazards such as hail, wind, lightning, tornadoes, wildfires, hurricanes, and more. Additionally, the Benchmark database on property-specific natural hazard history offers a thorough and reliable record of both catastrophic and non-catastrophic events, encompassing hail, wind, rain, and lightning, thus providing essential information for effective decision-making. This comprehensive resource ensures that users have the latest and most accurate data at their fingertips for better risk management and response planning.

API Access

Has API

API Access

Has API

Screenshots View All

Screenshots View All

Integrations

Liberate
Xactimate

Integrations

Liberate
Xactimate

Pricing Details

No price information available.
Free Trial
Free Version

Pricing Details

No price information available.
Free Trial
Free Version

Deployment

Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook

Deployment

Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook

Customer Support

Business Hours
Live Rep (24/7)
Online Support

Customer Support

Business Hours
Live Rep (24/7)
Online Support

Types of Training

Training Docs
Webinars
Live Training (Online)
In Person

Types of Training

Training Docs
Webinars
Live Training (Online)
In Person

Vendor Details

Company Name

Terrafuse AI

Founded

2018

Country

United States

Website

www.terrafuse-ai.com

Vendor Details

Company Name

Xactware

Founded

1986

Country

United States

Website

www.xactware.com/en-us/solutions/weather-analytics/benchmark/overview/

Product Features

Risk Management

Alerts/Notifications
Auditing
Business Process Control
Compliance Management
Corrective Actions (CAPA)
Dashboard
Exceptions Management
IT Risk Management
Internal Controls Management
Legal Risk Management
Mobile Access
Operational Risk Management
Predictive Analytics
Reputation Risk Management
Response Management
Risk Assessment

Product Features

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