(Image source: Baron.)
Baron, a Huntsville, Ala.-based provider of weather intelligence solutions, has released Weather API for insurance. The data distribution service enables quick and easy integration of industry-leading, quality-controlled, weather data for advanced notification, monitoring and validation in a variety of insurance applications such as claims management, customer engagement and fraud detection, the vendor asserts.
Baron describes its Weather API for Insurance as providing an accurate, internet-delivered meteorological data stream for turnkey integration into a range of devices and services for consumers, actuarial analysis, and claims planning. The solution includes access to live and forecast weather data that enables operational awareness and planning for events that may result in claims.
Advanced Custom Notifications
“Mobilizing response teams in advance of claims events is a multi-million-dollar decision and Baron critical weather intelligence provides the confidence to make these decisions,” a Baron statement says. “Baron Pinpoint Alerting extends reach and enables the ability to send customers advanced custom notifications about weather or other critical information, thus lowering claims by alerting customers to unsafe conditions.”
Baron reports that its archival weather data allows for analysis of historical performance and actuarial modeling. Baron’s Weather API for Insurance provides a global, multi-year, deep archive of over 65 individual weather data conditions for analysis and verification, according to the vendor. Baron historical data products include severe storms, hail, lightning, winds, and extreme temperatures. Additionally, the Weather API for Insurance is customized to each client’s specific needs and can be accessed by weather condition, time frame, and location, Baron says. Business applications for the historical weather data include home, casualty, marine, aviation and automotive insurance.
Among the benefits insurers can enjoy as result of integrating Baron’s Weather API into insurance applications are improved claims processing and fraud detection, lower claims costs and increased customer loyalty, according to Baron. The vendor notes that recent studies have indicated that 70 percent of insurance customers would be interested in receiving alerts from home sensors warning them of danger, and that proactively notifying customers to take action to protect life and property can help reduce claims up to 52 percent.
Streamlined Onboarding Process
Baron says that its Weather API can be tailored to any brand. The solution features what the vendor characterizes as a streamlined onboarding process and includes numerous data formats, including JSON and TMS, for efficient integration into any application or platform. It also features RESTful architecture to ensure a familiar development environment. Additionally, data packages are fully customized, making integration easy and quick, Baron says.