US-based insurance underwriter HCC Specialty has partnered with precision climate, weather data and analytics provider Weather Analytics.
Under the deal, Weather Analytics will provide historical and real-time global hourly data for more than 100 weather variables and indices to HCC Specialty.
It will help weather insurance policyholders to instantly access Weather Analytics’ precise weather verification data using a custom smartphone application.
HCC Specialty contingency and commercial package divisions senior vice-president Sean Curtin said: "I am excited to launch these new weather insurance products, verification tools and delivery systems, which will quickly expand the overall sports, hospitality, entertainment and leisure markets."
Through smart phone application, HCC Specialty weather insurance policyholders can get relevant data for their specific area of interest through Weather Analytics’ global coverage of hyper-local climate data.
The technology will allow policyholders to verify a precise data specific to their location, while simultaneously streamlining the claims process in the event of a covered loss.
Weather Analytics chair and CEO Bill Pardue said: "We’re delighted to work with a team so driven to deliver superior products to its customers. This team is used to moving at a fast pace and their appetite for entering un-chartered territory on a regular basis is a perfect match for us."
HCC Specialty offers insurance products, comprising high-limit disability, crisis management, contingency, DIC, prize indemnity, international medical and travel medical insurance, and special program business.