Mar 13, 2024   SOURCE: BusinessWire

Salient Unveils Next-Generation Weather Forecasting Model to Transform Risk Management

Salient Predictions, the leader in S2S weather forecasting and insights, announced the launch of a cutting-edge model upgrade and application. This innovative solution provides energy, agriculture, and insurance sector decision-makers with advanced foresight to anticipate critical weather events, enabling proactive actions to mitigate risks and enhance profitability.

"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,” stated Janet Lee, Chief Product Officer at Salient. “Our commitment to accuracy, usability, and tailored insights marks a pivotal step forward in how industries approach risk and opportunity management.”

As extreme weather events become more frequent and severe, traditional assumptions about weather are challenging grid resiliency, corporate earnings, and insurance operating models. According to Climate.gov, the United States experienced 28 weather and climate disasters in 2023, each costing over $1 billion and surpassing previous records.

Salient's updated S2S forecasting platform offers users improved reliability, enhanced update frequency, and better usability. The platform's reliable, probabilistic forecasts are key to hedging against losses and seizing windows of opportunity. Improved reliability ensures that the forecast probability matches the observed frequency without being overly confident. With daily updates to weekly forecasts covering weeks 1-5, decision-makers can now capitalize on market opportunities and address risks with increased confidence.

Key features of Salient's upgraded platform include customizable hazards, allowing the analysis of precipitation, wind, heat, and cold hazards based on tailored intensity thresholds; risk levels defined relative to climatological norms or absolute risk probabilities; and customizable areas to tailor thresholds for specific global regions, acknowledging that the definition of "extreme" varies based on infrastructure and preparedness.

Zurich Santander (ZS), a global insurance leader, collaborates with Salient to provide customers with weather-related risk insights, promoting wellbeing and climate resilience.

"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," said Isabella Ramos, Senior IT Analyst at ZS.

To request a demo of Salient's groundbreaking solution, visit: https://www.salientpredictions.com/request-a-demo

About Salient

Salient combines novel ocean and land-surface data with machine learning and climate expertise to deliver the world’s most accurate subseasonal-to-seasonal weather forecasts and industry insights—two to 52 weeks in advance. Bringing together world-leading experts in physical oceanography, climatology and the global water cycle, machine learning, and AI, Salient helps enterprise clients improve resiliency, increase preparedness, and make better decisions in the face of a rapidly changing climate. Learn more at www.salientpredictions.com and follow on LinkedIn and Twitter.

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