WeatherMind

Climate change is bringing new operational challenges to property insurers with rising volumes of claims, concentrated in short timeframes (peak effects) and highly heterogeneous. WeatherMind AI enables insurers to automatically scan all incoming climate claims. Depending on the severity, we then either process them end-to-end (up to 70% of total volumes) or we prioritize human intervention to avoid loss aggravation. By doing so, insurers can improve their operational efficiency, leading to: + A streamlined claims’ processing: -50% on loss adjustment costs and less follow-up calls per claim. + A contained loss / leakage: 90% of opportunistic / bogus claims detected without further investigation. + An enhanced customer satisfaction: 30x shorter cycle time and detailed pay-out decisions. Our initial focus is drought-induced damages but we plan to quickly expand to other perils: hail, storm, flood, …