Swiss Re Rapid Damage Assessment
NatCat claims processing platform powered by our proprietary hazard models and artificial intelligence on aerial imagery to respond to weather events with agility
The insurance industry faces increasing losses from natural catastrophes (NatCat) as well as operational challenges from the sudden influx and large volume of claims. Insurers must balance the need for rapid claims response against the lack of access to impacted areas and limited availability of adjusting resources. This puts claims operations under significant pressure with increased loss adjustment expenses, higher claims leakage and extended claims cycle time.
What we do Tools, data and insights for end-to-end NatCat claims processing
Rapid Damage Assessment (RDA) is an intuitive platform for catastrophe claims managers and loss adjustors to help them make faster and smarter claims decisions during a NatCat event.
The platform supports insurers in three key phases across the NatCat event lifecycle:
Rapid Damage Assessment currently supports insurers for managing claims after tropical cyclones, tornados and hail storms in the US. We are in the process of adding features to cover additional perils in the US as well extending the solution to other countries.
HOW IT WORKS Leveraging data and technology for faster claims decisions
We help you bring speed to your NatCat claims response by leveraging high-resolution data, innovative models and next-generation technology.
Rapid Damage Assessment leverages our proprietary NatCat models, imagery, weather and property data, and augments it with deep AI algorithms to determine damage at every insured property level. It is then aggregated at portfolio and other geographic levels to deliver damage insights.
Core components powering RDA
Our probabilistic NatCat modelling helps to estimate potential impact on your portfolio before a tropical cyclone makes landfall so that your claims teams can start planning their response. We procure post-event images of impacted areas within 2-4 days from landfall and analyse them with the help of artificial intelligence to determine the actual damage severity at portfolio as well as individual property level. This helps claims managers and claims adjusters to access all relevant data on a single platform for faster and accurate processing of claims.
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There are a lot of tools in the market that tell you where the hurricane is, but there are not many tools that help you respond and prioritize. RDA had a significant impact over our customers' lives during hurricane Ian by helping us create a rapid, targeted and data driven response. Early intelligence provided by RDA helps us serve our customers who depend on us, storm after storm, in their moment of greatest need.
