Swyfft, the Insurance Company that Uses AI to Save Customers Money, Sets Sights on National Rollout

Swyfft, a platform that won’t stop until it has wholly disrupted insurance as we know it, announces launch in Illinois and New Jersey

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Extratropical Cyclone Xaver Moves Slowly Across Europe with Powerful Winds and Storm

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BOSTON, Dec. 6, 2013 – According to catastrophe modeling firm AIR Worldwide, Extratropical Cyclone Xaver has moved across Germany, the Netherlands, Denmark, and Poland. Wind speeds were recorded at 158 km/h when the storm reached Germany and heavy winds affected the Netherlands, Poland, and parts of Scandinavia. Massive storm surges have occurred along the coasts of southeastern England, the Netherlands, and northern Germany. “Xaver developed off the coast of Greenland on December 4, 2013 and its development was enhanced by another low-pressure system, Wilhelm, which was located over the Norwegian…

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AIR Worldwide Reports from Areas Affected by Sandy

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According to catastrophe modeling firm AIR Worldwide, Sandy’s diameter made it the largest Atlantic hurricane on record in terms of the span of tropical storm-force winds. The huge radius helped to keep the winds at Category 1 intensity and allowed the storm to interact with a system from the west that resulted in severe weather across a wide swath of the eastern United States. This week two AIR teams were deployed to survey damage in New York and New Jersey. Commentary in this report provide an initial glimpse into the…

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Homeowners insurance claims rise following Mischief Week in the U.K.

Vandalism Homeowners Insurance Claims

Estimates are saying that over five million houses have already been damaged. The most recent estimates are saying that more than five million houses in the United Kingdom have experienced damage this week, leading to another round of homeowners insurance claims related to “Mischief Week”, which includes Bonfire Night and Halloween. Predictions are suggesting that this will lead to about £1.4 billion in repair costs. This means that each affected property will receive an average of £273. The most common cause behind these damages is thrown eggs. However, 1.5 million…

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Alabama falls victim to yet another outbreak of tornados this week – estimated cost of disaster at $30 million

Birmingham, Alabama, was hit by strong winds and a number of tornados earlier this week that caused extensive damage to homes and businesses. The city was not the only place that fell prey to disaster, however, as the storms made their way throughout much of the state. Risk modeling firm EQECAT originally estimated that the disasters could cost insurers $15 million. After surveying the extent of damage, the firm has revised that estimation to $30 million. A total of ten tornados formed early Monday morning, causing havoc and alarming unprepared…

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Nationwide and Allied Insurance team to respond to natural disasters in Southeastern U.S.

Nationwide and Allied Insurance are coming together to provide policyholders with quick assistance in the wake of natural disasters that have come to the Southeastern U.S. In the past year, residents of Southeastern states have been inundated with storms, tornadoes and floods. These disasters have caused extensive damage to homes and businesses and put severe strain on the economy of the region. Insurers hold out hope that 2012 will not be a retelling of the previous year in terms of catastrophes, but recent storms have shaken that hope. The two…

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AIR Estimates Insured Losses from Tropical Storm Talas to Be Between 150 million and 600 million

BOSTON, Sept. 7, 2011 — Catastrophe modeling firm AIR Worldwide estimates that insured losses from Tropical Storm Talas will be between JPY 12 billion (USD 150 million) and JPY 46 billion (USD 600 million). Talas is the season’s 12th named storm, the seventh severe tropical storm and the fifth typhoon of the 2011 Pacific typhoon season. “Tropical Storm Talas came ashore at Kochi Prefecture on Japan’s Shikoku island-the smallest and least populated of the country’s four main islands-at roughly 6 am local time Saturday, September 3,” said Dr. Peter Sousounis,…

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