By improving weather modeling and assessing past catastrophes, insurers can use predictive analytics to provide better support to customers during difficult times.
The industry in aggregate is retreating from climate risk, at a time when society needs it to run toward the most severe risks that threaten us. It's time for the industry to step up.
Traditional discussions of react, repair and replace are changing to predict, prevent and protect. Part of this transition has been supported by the IoT.
Insurers have massive databases from simulation models and satellites when it comes to weather and climate. The problem is figuring out how to use them to their full potential.