Description: Key Insights Comparing Hurricane Severity
According to the National Oceanic and Atmospheric Administration (NOAA), there are an average of 17.7 hurricanes every decade. The Property and Casualty Insurance Industry struggles with massive losses from these storms every year. The severity of these weather-related claims, including litigation costs, can be challenging to analyze quickly due to the volume, the type of loss, specific damage to the property, and the late reporting of the claim.
Claims Managers and Underwriting Analysts can benefit from Artificial Intelligence-generated insights to provide severity comparisons of the significant storms. The Charlee™ Insurance Insights Engine has 40,000 plus insights. The Charlee™ solution was developed by analyzing over 30 million claims. Charlee™ identifies critical topics, events, and entities and interprets the unstructured text in the claim file notes and internal and external documents utilized in the claims process. Charlee’s insights can assist the Claims Examiner in potential cost savings and avoid litigation.
Underwriting and Claims Managers can leverage the Charlee™ Insurance Insights Engine for better and more confident decisions for future storm seasons.