EigenRisk adds Weatherwatch hail footprints to EigenPrism

EigenRisk, a provider of catastrophe risk management technology, has entered into an agreement with Weatherwatch, an Australian company specialising in storm and weather risk management, to bring post-event hail footprints into its EigenPrism platform. Reinsurance News reports the deal.

The companies say the intended effect is to give property insurers and risk managers more information when assessing hail events in Australia and to support faster responses after severe weather. EigenRisk president Deepak Badoni said property insurers and risk managers are seeking to strengthen how they prepare for and respond to a rising number of weather-related disasters, and that the arrangement delivers enhanced insights and faster response times for Australian hail events.

Weatherwatch's products include HailTracker, a hail forecasting, alerts and real-time mapping service, and MetCentre, a weather forecasting system. Its services are built by meteorologists with experience of Australian conditions. The agreement itself covers the incorporation of Weatherwatch's post-event hail footprints into EigenPrism, a step EigenRisk said broadens access to hail-related information for insurance industry users assessing severe weather impact.

Anthony Cornelius, Weatherwatch's managing director, said integrating the footprints into EigenPrism allows Weatherwatch to expand its reach across the global insurance industry, and the platform delivers timely and actionable insights for clients preparing for and responding to catastrophic weather. According to EigenRisk, the agreement combines Australia-specific hail and weather data with EigenPrism's catastrophe risk management capabilities, giving users additional information when evaluating weather-related exposures and events.

The arrangement is a data-integration agreement rather than a transaction that changes either company's structure. Hail footprints represent one slice of the information needed to price and settle storm losses, but for reinsurers with Australian property exposure, a more complete post-event view arrives when it matters most.