EigenRisk adds Canopy Weather’s Tornado and Hail Modelling resources to its Global Catastrophe Risk Management platform
ANN ARBOR, MI, June 13, 2022 – EigenRisk® today announced a new agreement with Canopy Weather LLC, an innovative weather technology company to make Canopy’s U.S. severe convective storm response capabilities available through the EigenPrism® catastrophe risk management platform.
As U.S. weather-related loss events become more frequent and severe, the addition of Canopy Weather to our platform couldn’t be timelier. Our relationship with Canopy Weather enables our clients to enhance their ability to respond to tornado, hailstorm and related events in all 50 states of the U.S.
– Deepak Badoni | Co-Founder & President, EigenRisk Inc.
As has been widely reported, U.S. tornado activity in 2022 has been extremely active with many tornadoes occurring outside historical areas, while losses from severe convective storms in general hit a record $63 billion in 2020. Canopy Weather leverages multiple data sources to provide accurate, timely and precise predictions of the intensity and impact of tornados, hail and high winds in all 50 U.S. states. Additionally, its tools enable insurance, risk and property executives to assess roof damage from current or prior hailstorms and predict potential property damage in areas likely to be affected by these events.
We’re pleased to offer our U.S. tornado, hailstorm and wind intensity and path modeling and response capabilities to the risk management and insurance community through EigenRisk’s platform,” said Matt Van Every, co-founder, Canopy Weather and head of Business Applications. “In addition to gaining timely and accurate weather data that will enhance their ability to plan for and respond to these events, insurers can also determine the potential for existing roof damage from past storms.
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About Canopy Weather
Canopy Weather is the only vendor that enables insurance companies to remotely assess roof hail damage in both underwriting and claims applications without the need of physical roof inspections. In addition, Canopy provides traditional hail size and wind speed verification data, has a team of meteorologists to assist customers with forensic weather reports, and is the leading vendor for real-time tornado damage paths. For more information, please email answers@canopyweather.com
About EigenRisk®
EigenRisk, Inc., an independent insurance technology firm, helps (re)insurers, brokers and risk managers across the globe manage catastrophe risk, and drive higher growth, customer engagement and operational efficiency. The firm’s cloud-based platform provides one-stop access to powerful data management, geo-visualization, analytics, reporting, modeling, alerts and APIs. These capabilities are integrated with hazard data, event projections and simulations curated from more than 20 leading public and private sources to provide a more dynamic and complete perspective of risk. Visit www.eigenrisk.com.
