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'Wind-Jeannie' website to help insurers battle storm loss

Posted On: Sep. 14, 2015 12:00 AM CST

The Zurich-based provider of industry-wide catastrophe insurance data, Perils A.G., announced Monday the launch of “Wind-Jeannie,” a website which provides forecasts of potential industry losses from European windstorms, Perils said in a statement.

Wind-Jeannie helps insurers plan for large windstorms by providing them with the expected magnitude and geographical extent of an event loss in advance, the statement said. The software will compute expected insurance losses using gust forecast data, and the results can then be downloaded from the website. The data is for the upcoming 72 hours, with loss forecasts updated every 12 hours.

Instead of providing a weather forecast it provides an industry loss forecast, said Edi Held, head of products at Perils, in the statement. “Moving forward we look to improve Wind-Jeannie by continuing to collect loss information from actual events and comparing these to the forecasted losses provided via the website.”

Access to Wind-Jeannie is only available to data-providing companies and Perils database licensees via annual subscription the statement said.