Climaitetrack Expands Data Analytics And Functionality In Upcoming 2nd Generation

By Author: D Edward Levy
Total Articles: 53
Comment this article

Climate change continues to take its toll on the planet as 2025 comes in at $115 billion (USD), the third highest total with 23 events recorded. As political divides put climate care into question, businesses cannot ignore the rapid changes in weather severity and frequency. Turning to data analytics, businesses can assess past environmental exposure and determine risk with region specific reporting and grading. ClimAIteTRACK is a new data analytics tool from TTS that captures and processes climate and weather data to deliver an ‘Environmental Assessment Grade’ for any specific region of location. Geared as a tool for revenue management within the insurance industry, ClimAIteTRACK reporting can provide valuable information across many different industries where climate and weather events can affect infrastructure, businesses and operations.

A New Feature for Revenue Generation

The automated analytics process of ClimAIteTRACK creates new opportunities for insurance companies, enabling them to offer dynamically priced products that can drive premium revenue. The Dynamic Premium Pricing Model (DPPM) is a new feature ...
... from ClimAIteTRACK that can fully automate the Environmental Assessment Grade (EAG) process in monthly, quarterly or bi-annual runs and recommend premium adjustments based on more frequent reporting. For insurers, the DPPM generates incremental premium revenue at a faster pace while offering transparency and ‘bridge building’ with client-facing marketing and visual elements. The DPPM is ideal for areas that are affected by weather or have a history of severe damage caused by weather related events. DPPM mode can be toggled by client within a batch and is vertically integrated into the ClimAIteTRACK framework for hassle free operation. DPPM metrics and analytics criteria can be adjusted through a management console and optimized for each client scenario. ClimAIteTRACK offers configurable reporting that can be delivered electronically or accessed through the management console.

Deeper Analytics for Better Grading

The ClimAIteTRACK framework is structured for upgradability and can be optimized for specific region and client scenario use. The first version of ClimAIteTRACK compiled weather metrics through unique API calls and processed data to create and deliver the location’s unique EAG. The second generation of ClimAIteTRACK will improve analytics by increasing historical data pulls from 5 years to 7 years and increase weather metrics from 10 to 14 with a secondary API call. EAG grading will also be reconfigured for more precise results and detailed result commenting. The additional metrics and analysis will provide even better climate assessments for past exposure and potential future risk to better strategize premium revenue management.

Better User Experiences in the New Evaluation

In addition to internal upgrades, ClimAIteTRACK will get a new evaluation portal to showcase improvements and performance of the technology. Layout and graphical updates will elevate the user experience and a detailed progress bar will keep users informed on the stage of the report process. EAG report displays will include additional analysis details and metric standouts including updated grading commentary. Users will have an option to have EAG reports emailed to them as an added convenience. Utilizing Bootstrap framework for the portal will ensure fast loading and an overall better user experience when evaluating the technology. Look for the next generation ClimaAIteTRACK and evaluation portal to be online in early Q2 / 26.

ClimAIteTRACK – A New Tool for Business

Political debates and personal beliefs aside, climate change is a very real factor in business and weather related events continue to increase in frequency and severity causing billions of dollars of damage to property, assets and infrastructure. ClimAIteTRACK delivers data driven climate assessments that businesses can use to adjust and improve operations as well as plan future strategies to prevent or mitigate future losses. As an insurance management tool, ClimAIteTRACK provides premium management strategies with EAG reporting as well as a new Dynamic Premium Pricing Model feature, enabling carriers the ability to offer new products. Future improvements will include easy vertical integration into current systems and mainframes and standardized consumer facing elements for premium management services. Try out the current version of ClimAIteTRACK and get an EAG for any location. Access the evaluation here: https://traveltechnologysolutions.net/EvalPortal/#ctrack.