When you have access to data that allows you to zero in on damage at the policyholder level, you can anticipate customer needs and respond appropriately. For example, you can fast-track claims for people in zones that suffered catastrophic damage. (Credit: Terry Kelly/Shutterstock.com)
There's no safe place when it comes to catastrophic weather events. Climate and weather disasters caused some $22 billion of damage in 2020, which set a new record, and 2021 ranked second with 20 events. As we approach summer 2022, it's time to get ready for the possibility of yet another year with a higher-than-average number of catastrophic events. We all hope this doesn't happen, but hope isn't a strategy.
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