BMS Group recently added new automated storm reporting capabilities to its proprietary iVision offering. iVision Storm Reporter™ provides insurance companies with an email alerting them to the number of policies impacted by severe weather. The email is automatically generated when severe weather has occurred. It provides companies with the location and number of policies subject to the severest part of the storm such as large hail or extreme rainfall. Companies use this information to form an event response plan, calling on internal and external claims adjusters while mobilizing resources to the hardest hit areas of the storm.
iVision, part of a suite of analytical tools and services offered by BMS, is an easy-to-use catastrophe risk management system that is accessed via the internet. Built on the latest GIS technologies, it helps today’s insurance companies reduce cost and increase efficiency when managing their catastrophic risk.
“Storm Reporter is the latest offering from iVision to help our clients manage claims handling expense and quickly respond to policyholder needs during severe storm events”, says Julie Serakos, head of Cat Analytics for BMS Intermediaries, Inc. Storm Reporter utilizes data from Verisk Climate’s Respond™ weather data.
Earlier this year BMS announced its new Weather Analytics module in iVision. iVision’s features include weather analytics for claims response, BMS’ proprietary ScenarioView™ for stress-test analysis and RiskReveal™ location modeling for underwriting, utilizing catastrophe models from AIR Worldwide and Risk Management Solutions. These features allow carriers to reduce claims handling expense, manage large loss exposures and ensure premium adequacy before a policy is bound.
For further information please contact:
Tel: + 44 20 7562 4444
Tel: + 44 20 7562 4444
BMS’ iVision is an easy-to-use catastrophe risk management system carriers can access online. Built on the latest GIS technologies, it helps today’s insurance companies increase efficiency and effectiveness in managing their catastrophic risk. iVision’s other analytical features include BMS’ proprietary ScenarioView™ for DIY event analysis, and RiskReveal™ location cat modelling (featuring AIR and RMS cat models) for underwriting. These features let carriers manage large loss exposures and ensure adequate premium before a policy is bound.
Founded in 1980, BMS Group, the leading independent (re)insurance intermediary, is a private, employee-owned, specialist insurance broker. With teams of experts in the fields of reinsurance and wholesale and direct insurance, BMS is uniquely positioned to deliver exceptional service in all areas of the business. BMS services clients from locations throughout North America, in London, Sydney and Bermuda. For more information about BMS and iVision, please visit www.bmsgroup.com
T +44 (0)20 7562 4444