Weather Company Mines Data & Analytics Entrepreneur
Washington, DC (PRWEB) April 10, 2014 -- The appetite for big data and business intelligence has surged in the insurance, reinsurance, and mortgage information industry. American International Group (AIG)’s announcement last year of its billion-dollar Big Data project is but the tip of the iceberg in a sector-wide shift toward predictive modeling, data science and automated business intelligence.
At the same time, several firms in the industry are at odds with making sense of (and financial use of) massive datasets collected over the past few decades. One company, Weather Analytics, produces powerful business intelligence and decision support with its own data – hourly historic weather conditions over the last 34 years across the globe.
In order to bridge the gap between intricate risk and financial modeling needs and the meteorological expertise housed within the company, Weather Analytics recently announced that Eric Taylor, a subject matter expert in property-centric data and analytics, will assume the position of President of Insurance and Mortgage. Mr. Taylor, a member of the Weather Analytics Advisory Board since early 2012, is a highly accomplished serial entrepreneur with more than 20 years in the insurance and mortgage information verticals. “His track record for transforming single-dimensional startup organizations into market-leading providers is excellent,” says Weather Analytics CEO Bill Pardue. “It’s rare to find someone with experience – and success – in geospatial data and analytics, automated decision rendering technologies, and also property underwriting and risk profiling.”
Taylor’s achievements include the development and deployment of the country’s first pre-internet based automated appraisal delivery technology into the mortgage valuation services space with Integrated Loan Services in 1994.
He also introduced the first commercially available automated “exception” underwriting platform into the residential property insurance vertical, as the President and CIO of Advanced Field Services in 2003. Recent accomplishments include the design of a comprehensive disaster and catastrophe response platform, development of automated mortgage fraud-detection technologies, and the creation of innovative products and services relied upon by Wall Street and Institutional Investors operating in the single-family property rental data sector.
“Having Eric on our team will allow us to quickly transform our global atmospheric database into field-ready, user-friendly products that are automated, accessible, and tailored specifically to the needs of the insurance claims adjusters, underwriters, and large scale property investors and managers,” says Weather Analytics CTO Kevin Worley. “Having access to hourly and granular weather data 34 years into the past, as well as current and 7-day forecasts – something even the U.S. government cannot produce – provides insight into new risk selection, underwriting, and pricing opportunities,” Taylor says.
Questions that originally took weeks of meteorological consulting to process and answer – questions like ‘which coastal properties see disproportionally low exposure to high winds and severe storm events?’ and ‘when and where do I need to deploy traditional boots-on-the-ground to proactively mitigate losses in my portfolio before they occur?’ – can now be answered by a simple and near-instant query through the Weather Analytics database.
For those companies with Big Data and decision-making technologies of their own, Eric Taylor and the Weather Analytics team are ready to strategically assist as a “best-in-class” component-based provider.
About Weather Analytics
Weather Analytics revolutionizes global climate intelligence by providing statistically stable, gap-free data formed by an extensive collection of historical, current and forecasted weather content, coupled with proprietary analytics and methodologies. Weather Analytics finds, assembles, cleans and formats weather data from around the world and delivers information that is directly accessible in an online database for decision support. Weather Analytics uses the aggregated data and proprietary analytics to provide easy access to more than 580 weather variables delivered in user-friendly formats – allowing customers to focus efforts on solving business problems versus aggregating and cleansing data from raw sources. For more information, visit http://www.weatheranalytics.com
Emmett Soldati, Weather Analytics LLC, http://www.weatheranalytics.com, +1 (603) 978-9225, [email protected]
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