Lightning strikes occur frequently and can cause thousands of dollars of property damage in an instant. Insurance companies can use data gathered with Lightning Detection Technology to reduce risk and increase profits in many areas.
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1) Validate Claims For Lightning Damage Quickly
If a policyholder submits a lightning claim, Lightning Detection equipment can provide a detailed report on the lightning activity in the area. It is a factual and objective way to determine the validity of such a claim. It can also be verified quickly, so you and the client can receive swift results.
2) Minimize Claims by Warning Policy Holders of Threatening Weather
Using lightning network visualization allows you to have advanced warning of lightning threats. By providing policyholders with enough notice, you can help them to protect their assets and avoid filing a claim. Equipping clients in this way can reduce your workload and save you money.
3) Customize Product Offers For Individual Markets
Because the weather is vastly different depending on which part of the country you are in, marketing the same insurance products to everyone is inefficient. Thanks to the lightning detection industry, you can use data collected to make your marketing strategy more effective.
4) Focus Marketing Activities on Low-Threat Areas
When you know which areas are less prone to lightning strikes, you can target them in your marketing strategies. This helps to balance out claims from high-risk areas or minimize the overall number of claims.
5) Use Local Weather Patterns to Formulate a Pricing Strategy
People are willing to pay more for insurance when the perceived threat is great. Knowing the locations and patterns of inclement weather can allow you to adjust the prices of your products and make the most of changes in the weather.
To find out more about how your insurance company would benefit from the lightning detection technology provided by Earth Networks, visit their website today. Take a look at the additional products and services Earth Networks provides to discover other ways you may be able to save money.
The post 5 Reasons Why Lightning Detection Technology Is Used in The Insurance Industry appeared first on Insane Visions.
