Only 3% of claim filers who were proactively contacted filed a claim to their insurance companies following a weather event.2

Personalization determines the extent to which individuals may react to notifications—reinforcing their relationship with insurance companies.3

Drive deeper customer insight through behavioral analytics using cognitive churn models that learn over time and the power of Moving Object Mapping Analytics (MOMA), which predicts driver locations.

Predict behavior

We live in a digitally infused world with the flexibility to combine data to generate insights for insurers to act upon quickly and inexpensively. IBM has the capability to enhance your data with cognition to help drive greater customer engagement with better risk assessment and mitigation. Discover the differentiating combinations of the Internet of Things (IoT), analytics, cognitive computing and critical weather data to drive business results.

Uncover new potential revenue opportunities and ways to interact by applying cognitive learning with analytics to the location and behavior of your policyholders.

Uncover opportunities

Auto hail damage claims average around $3,200 but more than 50% of policyholders take action when alerted.6

Be prepared—even in a snowstorm. The power of weather data and analytics can help plan for resource demands such as adjusters, building contractors, building material, and even commodities such asfood and water in case of an emergency.

Emergency relief

Sensors would be able to indicate if pipes are freezing, giving insurers the ability to alert customers and send assistance to prevent costly damages.

Get the most out of valuable data driven by IoT and shift the focus from collecting insurance premiums to providing new services for assets such as monitoring for home or commercial properties.

Provide new services

Storms globally accounted for $18.4 billion of insured losses in 2014.4

Build relationships and help avert damage with real-time insight into weather conditions that track even small shifts in wind direction, temperature and precipitation. Five annual meaningful touchpoints such as alerting policy-holders to an imminent, potentially damaging weather threat can boost retention by five percentage points.

Monitor conditions

Understand your policyholders’ sentiment, life events, channel choices and preferred methods of communication to better personalize relevant types of offers.

Personalize experiences

Capitalize on data generated from more than 40 million mobile phones to optimize offers for retention or replacement.1

In the event of a flood, weather data can help mitigate weather-related losses, allocate internal resources to better assist with post-event support and more effectively manage cash reserves.

Align resources

Floods globally accounted for $9.1 billion of insured losses in 2014.5

With sensors on buildings, cars and wearables, insurers now have access to even more data such as driving behavior and wellness to more accurately assess risk and potentially fraudulent activities.

Risk pricing

Insurance fraud (excluding health insurance fraud) has a yearly impact of more than $40 billion in the US.7

Have the right controls in place to better understand and eliminate the highest sources of risk to insured assets. Insurers could offer solutions that minimize risk, such as gallery frames that monitor priceless art.

Risks to loss

Data from the IoT originates from more than 100,000 weather sensors and aircrafts, smartphones, buildings, home appliances, moving vehicles and much more.8

Insurers: Use predictive analytics to deliver business results

Connect to behaviors

Connect to the weather

Connect to sensors

Redefine the limits of what’s possibleDiscover how you can transform insurance with the power of weather data, advanced analytics and the Internet of Things.

ibm.co/insuranceanalytics

Sources: 1 http://www.ibm.com/analytics/us/en/business/weather-insight.html2 IBV Study, Cloudy with a chance of mishap3 IBV Study, Cloudy with a chance of mishap4 Swiss Re, sigma, 2/2015 http://www.iii.org/table-archive/23521

5 Swiss Re, sigma, 2/2015 http://www.iii.org/table-archive/235216 https://www.youtube.com/watch?v=4k5ja7UFSkc,7 http://www.ibmbigdatahub.com/infographic/601-billion-reasons-why-weather-data-can-transform-insurance-industry8 http://www-03.ibm.com/press/us/en/pressrelease/46453.wss