Juniper Re, the reinsurance broker with a subsidiary in Bermuda, and Canopy Weather, the provider of weather analytics solutions, have announced a strategic collaboration to bring post-event severe convective storm response analytics to Juniper Re clients.

The reinsurance broking arm of BRP Group Inc announced the opening of Juniper Re Bermuda Ltd last month. The on-island operation is led by Chris Hayward.

Juniper Re said Canopy employs leading-edge technology and human expertise to rapidly provide ground-truth observations immediately following storm events.

It added that Canopy’s application-first approach and focus on data quality enables it to provide accurate post-storm data that provides a unique and more complete picture of ground-level storm impacts than other offerings.

By integrating Canopy's advanced weather analytic capabilities with Juniper Re's expertise in insurance and reinsurance solutions, the collaboration aims to provide Juniper Re’s clients with risk management insights and more informed storm-related loss estimates.

Given the uptick of severe storm losses, quickly assessing impacted exposure and potential losses post-event is vital, the company said.

Canopy and Juniper Re intend to work closely with insurers, managing general agents, and other providers of insurance products to deliver detailed hazard analytics for tornado, hail, and wind in near real-time.

Pairing these advanced footprints with a carrier’s exposure, clients can quickly assess the number of risks and exposed limits impacted by an event.

This will allow carriers to better estimate losses, allocate resources, and enhance the customer experience, Juniper Re said.

Adam Miron, Juniper Re's head of Catastrophe Analytics, said: "At Juniper Re, we understand the importance of accurate and actionable insights after a severe storm event, which is why it is essential that carriers regularly assess their event response providers.

“They might be surprised to find how significantly their capabilities and responsiveness can be enhanced with access to superior, more refined, and timely data.

“Our collaboration with Canopy enables Juniper Re to seamlessly provide our clients with tailored event response solutions using cutting-edge technology adapted to fit their specific needs.”

Jeff Irvan, president of Juniper Re, added: “Many clients rely on their reinsurance broker to provide impacts in the aftermath of a storm.

“At Juniper Re, we pride ourselves in working with best-in-class, differentiated providers like Canopy to provide actionable insights.”