Verisk Climate, a provider of enterprise climate risk management products, and Weather Decision Technologies (WDT), a weather industry technology provider, have formed a long-term alliance to develop new, more advanced analytics and products focused on the business impacts from weather perils.
Verisk Climate now serves as WDT’s channel into the global insurance and restoration markets. Verisk Climate will build upon content from WDT to inform the climate-business analytics that Verisk Climate offers across all its markets, including insurance and reinsurance, corporate supply chain, and capital markets in the U.S., Canada, Europe, and the Pacific region. Verisk Climate is a division within Verisk Analytics.
According to Kyle Beatty, president of the Verisk Climate division, Verisk Climate will have access to sophisticated climate-business analytics through the combination of WDT’s weather content and Verisk’s scientific capabilities. “Together, we are substantially expanding the resources available to Verisk Climate’s corporate logistics, insurance, and risk management clients,” he said.
Mike Eilts, president and CEO of WDT, said Verisk Climate and WDT share a vision to transform how businesses prepare for and react to the weather.
“WDT’s focus on developing highly reliable, near-real-time weather content will enable a new generation of services that Verisk Climate will offer to its clients globally,” he said.
WDT provides organizations with weather decision support on a global scale. WDT offers specific expertise with Big Data as it applies to hazardous weather detection and prediction, forecast modeling, decision analytics, GIS, mobile apps, and interactive mapping. WDT employs the WeatherOps forecast team, who provide global asset projection and commodities-trading decision support.
WDT maintains operational offices in Norman, Okla., and Houston, Texas.
Verisk Climate provides software, data, and analytics for enterprise climate risk management. Verisk Climate draws on disaster risk models from AIR Worldwide, vertically integrated data from the Verisk Analytics family of companies, and environmental data and expertise from its Atmospheric and Environmental Research (AER) unit.
Source: Verisk Climate/WDT