MADISON, Wis. — Understory announced the release of Auto – Hail Safe, a hail insurance product designed specifically for auto dealers. The solution uses a rooftop weather sensor to capture ground-truth weather data and uses proprietary technology designed to provide cost-effective coverage, eliminate lengthy processing times, and quickly process payouts.
Executives said Understory simplifies typical insurance complexities with one “hassle-free” platform that empowers both the insurer and the insured. In the case of a hailstorm, the on-location “Dot” sensor automatically sends precise information about hail size to the insurance company. When a claim is triggered, an auto dealer receives their check within one to two weeks, all according to the announcement.
“Understory is introducing a paradigm shift to the insurance industry,” said Alex Kubicek, the company’s founder and CEO. “Our precision sensors are the gold standard of ground-truth weather detection. They enable innovative products and fulfill the promise of insurance digitization. We’re not talking about another weather app. We are talking about parametric insurance: a data-driven approach to financial risk.”
