MAX Insurance® to use Canopy Weather’s hail reports to identify the date of loss and flag claims for further review.
Overland Park, KS. (January 10th, 2023) — Today, MutualAid eXchange (MAX) Insurance, a cooperative member-owned property casualty insurance enterprise specializing in protecting residential and small farm properties, announced the selection of Canopy Weather as its source for weather data for hail claims processing.
Hail claims losses and related expenses are a significant cost to property insurance carriers. By correctly identifying the date of loss, carriers can assign the claims to the correct CAT event, as well as process claims more quickly and efficiently.
“By using Canopy’s hail history reports, we are finding that when a hail claim is reported more than 3 days after the event, loss dates are incorrect about 60% of the time,” says Stephen Messina, Chief Customer Experience Officer for MAX Insurance®. “By validating dates of loss on hail claims, MAX is able to align losses to the correct date of loss, validate a loss occurred within its coverage period, and accurately aggregate claims by weather event.”
“With over a decade of experience focused on the industry's hail claims problems, we’re excited to provide MAX Insurance® with our market-leading hail analytics,” Don Giuliano, President of Canopy Weather, said. “Our internal studies have shown that loss dates are incorrect roughly 50% of the time, and we are pleased that our colleagues at MAX Insurance® are benefitting from the use of our reports”.
About MAX Insurance®
With a history that dates back more than a century, MAX remains committed to its historic values while protecting members' homes, farms, and other valuable property. We call it Insurance the Way It Should Be and you won’t find it anywhere.
For more information about MAX Insurance®, visit https://maxinsurance.com/.
About Canopy Weather
Canopy delivers property-specific hail size and roof damage analytics to insurance and financial services industries. Canopy's team has a long history in the P&C industry, founded by Matt Van Every and Don Giuliano, who led the development of the first-ever ground-level hail-size verification and property-specific hail history products over a decade ago.
More about Canopy's innovations: www.canopyweather.com.