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CoreLogic offers new property exposure solution for tornadoes

3rd May 2019 - Author: Matt Sheehan

Global catastrophe risk modeller CoreLogic has announced the launch of Tornado Path Maps, a new solution that promises to deliver precise damage exposure data from a tornadic event in minutes.

corelogic-logoCoreLogic claims that the solution will allow insurers to anticipate claims volume and adjuster deployment for streamlined claims processing, offering quicker support for policyholders.

Tornado Path Maps has a data layer that is updated every 15 minutes following a tornado, displaying area probability of tornadic damage.

This parcel-level exposure analysis is also designed to help emergency responders, utility companies, transportation departments and others efficiently determine resource allocation and deployment for affected people and properties.

“Until now, understanding exposure from tornadoes has been a daunting challenge for most insurers, as typical ground-based observations and reporting are hampered due to infrastructure damage when a tornado moves through an area,” said Curtis McDonald, Senior Professional Product Management and Meteorologist for CoreLogic Weather Verification Services.

“These challenges can create frustrating policyholder experiences,” he continued. “Our goal with Tornado Path Map is to enable insurers to efficiently and accurately identify customers under duress immediately following tornadic storms, meaning they’re able to assist with communications and swift response to help their policyholders in need.”

Tornado Path Maps is based on the proprietary CoreLogic Tornado Verification Model, which combines available radar data with public and social media reports, backed by meteorologists.

It is part of the CoreLogic Severe Convective Storm suite of solutions, which also offers forensics on hail, wind and lightning.

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