Solutions for Insurance
Solutions and Weather Data Tailored to Your Needs
Weather has a high impact on the insurance industry. The safety of lives, property and assets is directly impacted by the effects of extreme events.
Accurate weather information is therefore central to successful business in the insurance industry and can lead to the realization of competitive advantages.
Explore Our Solutions
Weather API
Get fast and easy access to the entire universe of weather data with our Weather API.
MetX
Visualize every weather situation to stay ahead and to make better decisions with our Weather Visualization Map MetX.
EURO1k
European weather model at 1km resolution: get accurate weather forecasts across Europe and make better decisions.
Why Is Weather Important for the Insurance Industry?
Severe Weather Coverage
Property and assets are impacted by the effects of extreme events like hail, lightning, wind, fires, floods, severe winter weather, and hurricanes, just to name a few.
Meteomatics API monitors the probability of these incidents to help insurers:
- portfolio exposure management during extreme events, quickly identifying the potential value at risk from a natural catastrophe
- warn policyholders, mitigating the impacts of extreme events and saving lives
- determine the validity of damage claims by comparing them against the observed weather conditions
- make smarter underwriting decisions based on the likelihood of local severe weather events
Travel Weather Insurance
Travel insurers need to understand and monitor the risks associated with severe weather on touristic locations across the globe.
With our API, insurers can examine historical weather data to assess general seasonal trends in terms of flooding and tropical storms for any location. They can also view nowcasts in 5-minute timesteps and 90m horizontal resolution and consult the outlook for the coming months.
This comprehensive data allows them to better plan their policies, consider weather-related cancellations, and warn their clients about dangerous events during their time abroad. The real-time data can even be used to facilitate automatic claim payment in a parametric insurance policy.
Climate Change Impacts on the Insurance Industry
Climate change is increasing the frequency and severity of weather events in many parts of the world. Even in an (increasingly unlikely) +1.5°C world, weather conditions can be expected to be quite different from today. Hence why we incorporated climate projection data into our API.
Climate Projection Data
We makeCMIP6 climate projection data available via API and offer our expertise in weather and climate science to help the insurance industry’s stakeholders understand how climate change will impact them.
Our users are able to request the latest CMIP6 data across all 5 socioeconomic pathways, out to 2100. We have applied our expertise to standardize and process the raw climate projection data from the CMIP6 models. This makes it easier for the insurance industry to consume and integrate with their existing data infrastructures.
In addition, Meteomatics broadened the applicability of climate projection data by:
- downscaling the horizontal resolution to 90m to take into account the local topography
- downscaling the temporal resolution to create consistent time series
- calculating around 40 derived parameters that help increase the usability and relevance of climate predictions to more users, such as temperature, wind
- direction, precipitation and global radiation
Meteomatics Solutions for the Insurance Industry
Weather API
Everything you need on call
Meteomatics Weather API removes the complexity of handling and processing weather data, allowing users to retrieve large volumes of weather data quickly.
Your Benefits
- One source, one interface: query multiple parameters simultaneously for single or multiple sites and entire areas
- Query data in real time with a response time of a few milliseconds
- Real-time access to over 7 petabytes thanks to unique data processing technology (Meteocache)
- "On the fly" downscaling using topographic maps enables 90 meter resolution worldwide, greatly improving accuracy at the local level
- High resolution of data per minute
- Highest data quality: over 1640 updates per day ensure accuracy and timelines
Explore the Power of Our Weather Visualization Map
MetX Visualization Map
With weather maps, weather data can be made accessible to all
MetX is a web-based tool based on the weather API developed by Meteomatics. A weather map is used to display complex weather data and can easily visualize conditions. With our software for the visualization of weather data, we offer you a high-performance solution to gain more insights and thus make better decisions based on the weather situation.
Advantages and Benefits
- the calculation of weather data in real time when zooming or changing views
- a high granular resolution of 90 meters: based on the NASA terrain model, measuring points are calculated every 90 meters and the weather data are scaled down accordingly
- high temporal resolution every minute
- the possibility to use different maps like topographic maps, border maps, aeronautical maps etc.
- the use of layers to display different weather parameters
- clear display of up to 4 maps on one screen (quartering of the screen)
- data export for each point on the map
- individual solutions for your weather map on request
Claim Management with InsurX
InsurX
Simplify your claim management
InsurX enables every claim manager to easily double check weather conditions for specific claims and can be tailored to the company specific definitions for hail, rain, lightning and wind in one.
Advantages and Benefits
- Based on the Meteomatics API
- Easy to read interface
- Possibility for individual solutions
- Available with 4 parameters: hail, wind, lightning, rain
- Calculation of weather data for a time range or specific time
- Different combinations of weather parameters
- Search for specific location on map, via address or even with longitude/latitude
- Get an easy yes / no answer for specific time & parameter
- Available in 3 languages (English, French, German)
- Claim management: query also considers surroundings on the maps
Learn From Our Customer Stories
This is how we improve our clients' business with our approach.
Learn About Weather and Climate
We provide all relevant weather and climate data to build up an early warning system for major weather impacts on nature, agriculture and the environment in general. This includes short-term data as well as long term climate data.
We Work With Groundbreaking Companies
We are proud to work with leading companies in the insurance industry. Together, we realize efficiency benefits and help our partners realize digital innovations.
Meteorologist and Client Manager
Customised industry solutions
Get in touch - we are here for you.
Contact us if you have questions about specific industry applications or would like advice from our experts! We look forward to your enquiry and will get back to you within one working day.