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What is Xactware Benchmark?

Benchmark provides prompt analysis reports on natural hazards related to weather events, which include specific loss dates for properties along with historical information about hail, wind, and lightning, all available via Verisk platforms such as Xactimate and XactAnalysis. Users, both new and existing, can easily access the Benchmark integration within their claims on XactAnalysis, as well as in the documents section of Xactimate. Reports can be retrieved effortlessly by selecting options from the “select an action” drop-down menu in XactAnalysis while managing claims. The data for Benchmark in both XactAnalysis and Xactimate is sourced from Respond™, which delivers near real-time analysis and forecasting for weather-related events, offering localized assessments for various natural hazards including hail, wind, lightning, tornadoes, wildfires, hurricanes, and more. Moreover, the Benchmark database provides an extensive and reliable record of both catastrophic and non-catastrophic natural hazard events, which includes data on hail, wind, rain, and lightning, ultimately aiding in effective decision-making processes. This all-encompassing resource guarantees that users have the most current and precise information available, facilitating improved risk management and strategic response planning. By leveraging such detailed insights, organizations can enhance their preparedness for potential weather-related challenges.

What is HurLoss?

HurLoss is ARA's sophisticated hurricane catastrophe model designed specifically for property insurers, reinsurers, brokers, and ILS managers to effectively manage risks in hurricane-prone areas. Established in 1998, HurLoss has been pivotal in shaping structural engineering standards in states affected by hurricanes and has played a key role in federal emergency management and mitigation efforts since 2003. The model offers an extensive event set that encompasses the entire North Atlantic basin, including regions like the U.S., the Caribbean, Bermuda, as well as parts of Canada, Mexico, and Central America. What distinguishes HurLoss is its unique physics-based approach to hurricane hazard modeling, which integrates engineering load and resistance analysis based on foundational principles and validated through claims data. Furthermore, the model includes projections for future climate scenarios, allowing users to assess risks with both present and future climatological data, such as changes in sea surface temperature and wind shear. This innovative perspective not only enhances risk assessment but also empowers stakeholders to develop robust hurricane risk management strategies that are adaptable to evolving climate conditions, ultimately ensuring a more resilient approach to disaster preparedness and response.

Media

Media

Integrations Supported

Liberate
Moody’s Risk Modeler
Oasis Loss Modeling Framework
Xactimate

Integrations Supported

Liberate
Moody’s Risk Modeler
Oasis Loss Modeling Framework
Xactimate

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Xactware

Date Founded

1986

Company Location

United States

Company Website

www.xactware.com/en-us/solutions/weather-analytics/benchmark/overview/

Company Facts

Organization Name

ARA

Date Founded

1998

Company Location

United States

Company Website

www.ara.com/hurloss/

Categories and Features

Categories and Features

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