Lehi, Utah, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Verisk’s Respond MAP, an interactive weather and analytics platform, has been named a winner in the 2023 BIG Innovation Awards presented by the Business Intelligence Group. The award recognizes organizations, products and people that are bringing new ideas to life in innovative ways.
Respond MAP, which helps users analyze the impact of severe weather, was selected after its impactful contribution to the insurance industry during Hurricane Ian preparation and recovery efforts. When Hurricane Ian approached the Florida coastline, Verisk offered insurers the ability to track the storm and monitor potential impacts to their books of business with Respond Hurricane forecast footprints with the mapping and analytics platform. After landfall, this powerful blend of technology helped insurers to quickly identify damage, connect with policyholders impacted by the storm – many of whom had evacuated – and triage claims in the wake of this devastating event.
“Critical times like this show the impact this technology can have in helping policyholders recover from a loss,” said Aaron Brunko, president of Property Estimating Solutions at Verisk. “It’s incredibly gratifying to see the difference our team can make during a time of need, and this recognition fuels our efforts to support resilience through data, technology and innovation.”
Respond MAP combines Verisk’s valuable weather data with locations of interest, such as insurance policies-in-force and claims, to quickly evaluate the impact of significant weather events. The interactive platform delivers a geospatial weather command center to monitor potentially damaging weather events like hurricanes, severe thunderstorms, wildfires and more. It also connects insurers with pre- and post-event imagery and damage assessment analytics that leverage artificial intelligence, remote sensing technology and Verisk’s robust property and claims data to help identify affected properties, assess the extent of damage and triage on-site inspections.
Organizations from across the globe submitted their recent innovations for consideration in the BIG Innovation Awards. Nominations were then judged by a select group of business leaders and executives who volunteer their time and expertise to score submissions.
“Innovation is ‘business critical’ in today’s society,” said Maria Jimenez, chief operating officer of the Business Intelligence Group. “We are thrilled to be honoring Verisk as they are leading by example and improving the lives of so many.”
Respond MAP is part of a wide range of solutions that Verisk offers to help insurers address catastrophe risks. These solutions include address-specific analytics to help underwrite properties, extreme event models and loss estimates to help manage the accumulation and transfer of risk, claims management solutions to combat fraud and accelerate payments and computer software for professionals involved in estimating all phases of building and repair.
About Verisk
Verisk (Nasdaq: VRSK) provides data-driven analytic insights and solutions for the insurance industry. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global issues, including climate change and extreme events as well as political and ESG topics. With offices in more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.
About Business Intelligence Group
The Business Intelligence Group was founded with the mission of recognizing true talent and superior performance in the business world. Unlike other industry award programs, these programs are judged by business executives having experience and knowledge. The organization’s proprietary and unique scoring system selectively measures performance across multiple business domains and then rewards those companies whose achievements stand above those of their peers.
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