An average of $15 billion in damages are reported every year in the U.S. due to hailstorms. Outdoor businesses, like car dealerships, are particularly susceptible to these quick moving storms. They need Hailios and our Eyewitness technology to insure proper reporting and faster payouts.
Fox 5 News in Atlanta captured a live look at a massive hailstorm that destroyed the inventory at a Chevy dealership in Cullman, Alabama.
While the damage hailstorms cause is unavoidable, Hailios dramatically improves the hail claim process, helping insurance companies take better and faster care of their clients.
Hailios Relieves Stress
Hailios is the tool you’ve been hoping for that will relieve you from hailstorm stress. In between the storms it will give you peace of mind knowing you’ll be taken care of in a quick, timely manner when disaster does inevitably strike. We’ve revolutionized the collection of environmental data.
Problems Dealers Experience
According to our friends at JBR Underwriters, these are the top issues that dealers are faced with:
- The claim process can be long and complicated
- Very high deductibles for hail
- Inventory insurance does not cover lost income and profits
- Inventory insurance excludes the diminished value of the vehicles
- Inventory insurance protects the lender instead of you
- Garage coverage could exclude hail coverage for customer’s vehicles
How Hailios Can Help
We recommend that auto dealers explore parametric hail insurance. Rather than being paid based on losses sustained from a hail event, parametric hail insurance starts when a measurable event meets or exceeds a set threshold. This allows expedited claims processing, permitting a dealership to access their money and return to normalcy quicker.
Our Eyewitness sensors support businesses by collecting property level data in real-time during weather events, streamlining the claims process by giving insurance providers instant access to the information needed. This technology can determine the kinetic energy and diameter of every piece of hail. As the only IoT and data analytics company with a fully-transparent, property-level data solution, we were selected by Property Casualty 360 for 11 InsurTechs to watch in 2021. And, Oxbow Partners has selected Hailios as one of the InsurTech Impact 25 for 2021.
If you’re a business owner preparing for the hail season, contact us, and