Salient Predictions unveils upgraded model for weather risk management

Salient Predictions, a specialist in subseasonal-to-seasonal (S2S) weather forecasting and insights, has announced the launch of an upgraded model that can potentially transform risk management in numerous key sectors. Touted as a precursor to weather-related disaster events, this new solution offers critical foresight to decision-makers in the energy, agriculture, and insurance sectors, enabling them to make proactive, pre-emptive decisions.

Janet Lee, Chief Product Officer at Salient, believes this development is set to radically reshape how industries thrive in the face of extreme weather events. She stated, "With the unveiling of our enhanced S2S forecasting platform, we're setting a new standard in weather intelligence, offering decision-makers the tools to not only survive but thrive in the face of extreme weather events. Our commitment to accuracy, usability, and tailored insights marks a pivotal step forward in how industries approach risk and opportunity management."

Given the increasing frequency and growing severity of extreme weather events, traditional suppositions about weather are proving challengeable to grid resiliency in corporations and insurance operating standards. According to Climate.gov, the United States alone faced 28 weather and climate-related disasters in 2023, each incurring damages well above $1 billion - surpassing any previous records.

The revamped S2S platform by Salient claims to bolster its usability, improve reliability and enhance update frequency. Importantly, this solution extends a level of assistance to key stakeholders in market speculation, risk assessment, and opportunity identification. It leverages daily updates to the weekly forecast covering the first to fifth weeks for users to make more informed decisions within their sectors.

The updated platform by Salient allows users to customise hazards and analyse precipitation, wind, heat, and cold hazards based on tailored thresholds. Other features include the ability to define risk levels relative to climatological norms or absolute risk probabilities. It also allows users to customise thresholds for specific global regions, taking into account local infrastructure and differing capacities for disaster preparedness.

Salient's innovative solution has been adopted by Zurich Santander (ZS), a global leader in insurance. Isabella Ramos, Senior IT Analyst at ZS, shed light on their partnership, indicating that Salient's technology permits their clientele to assure the safety of their households. Ramos stated, "Salient's solution offers reliable predictions of heavy rain, windstorms, and temperature extremes, allowing our clients to protect their homes and families while enhancing overall customer satisfaction."

This enhancement by Salient Predictions evidences the continuous strive for increased accuracy, flexibility, and usability in the forecasting industry. With the S2S platform's new features, it surely becomes a formidable tool in the hands of decision-makers, aiding in the fight against climate-related hazards and mitigating the threats they pose. It is a timely innovation that seeks to transform risk management and set a novel standard in weather intelligence.