EuroTempest launches Global Validation Tool to assess weather claims

UCLB spinout company EuroTempest Ltd, a leading provider of storm and weather risk management services to the insurance market, has recently launched its Global Weather Validation tool, designed to help insurers validate worldwide weather-related claims more quickly and efficiently.  

The tool, which up until now has only been available for use within UK markets, combines data from satellite, land-based and marine weather stations across the globe, to provide analytics that assist insurers in the early detection of invalid claims. This reduces the need for site visits, whilst processing valid claims more quickly and cost-effectively. 

UCLB’s role 

Originally founded in 2007, EuroTempest Ltd arose from a partnership between UCL’s IP commercialisation company, UCLB and leading insurers Aon and RSA with the vision to translate weather related research outcomes arising from UCL’s Mullard Space Science Laboratory (MSSL) into a set of products that could help insurance companies to better forecast and quantify the impact of weather events.  

Dr Steven Schooling, Managing Director, UCLB, said: “It’s great to see EuroTempest broadening its platform in order to deliver innovative weather risk tools on an international basis. UCLB has been involved since the foundations off the company as a joint venture between Aon, RSA and ourselves. We are really encouraged by the growth of use cases for the platform and the bright future ahead for the company.” 

Precise solutions 

The Global Weather Validation tool delivers clear, precise reports on key weather hazards that can cause damage, such as wind, rainfall accumulation (1-hour and 24-hour), rainfall rate, lightning, floods, and hail.  

These reports cover any location worldwide and provide detailed information within 700 metres of the policyholder’s location. Available in various formats, the tool can be accessed through a web browser or integrated with claims management systems, enabling fast and accurate assessments. 

The launch of EuroTempest’s Global Weather Validation tool represents an advancement in weather-related claim validation, leveraging sophisticated data integration and high-resolution modelling to improve accuracy.  

By using its methodology across the globe, EuroTempest aims to enhance claim handling efficiency, reduce costs, and improve customer satisfaction in the face of increasingly severe weather events. 

EuroTempest’s Commercial Director, Nick Wood, said: “We’re hugely excited to be launching our new Global Weather Validation tool, and to be helping even more insurers around the world better navigate the ever-changing weather risk landscape. 

 “As the frequency and severity of extreme weather events continues to increase worldwide, we’re confident that the tool will prove invaluable to our customers, allowing them to handle claims more effectively and efficiently.” 

Read EuroTempest’s case study here.