Dynamic Weather Solutions has been granted a patent for a system that will allow insurance carriers, CAT teams, independent claims adjusters, and others to have access to previously unavailable, more accurate hail intensity records.
Plano-based DWS, doing business as Hailstrike, said it’s a breakthrough solution to a dilemma that long has limited historical meteorological data on hail storm intensity.
The company said the lack of precision in hail storm data processing and reporting limits the insurance industry’s ability to use historical data for tracking before hail storms in localized areas.
“DWS is the only company that has been granted a U.S. patent for a system that determines hail intensity.”
That, in turn, prevented data users from making meaningful underwriting decisions, DWS said in a release.
Decisions to underwrite, and the premiums charged, are adjusted based on the potentially insured party.
The company said that by using data from DWS’s reports, the risks and premiums can be determined and established with greater ease and accuracy.
“DWS is the only company that has been granted a U.S. patent for a system that determines hail intensity,” Founder and CEO Daron Sneed said in the release. “This technology gives any customer a much more useful scope of the intensity of hail within an area of a hail storm.”
He said that in the past, there were limits to the data included in hail verification reports.
“Now, DWS has changed that paradigm and conclusively gives customers the accurate data they’ve needed,” Sneed said. “I am optimistic that we have reached an industry milestone, with the potential for truly accurate hail intensity information.”
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