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Financial Services Industry

Challenges

The weather can negatively impact the financial services sector in terms of:

  • Extreme weather affects bank financed properties.
  • Value of bank financed assets drops due to weather related disasters
  • Climate Change and Variability negatively impact the economy which may negatively affect bank financed businesses and clients.



Benefits

  • Use weather and climate information to improve risk management and planning

Products Available

Climate Change

Climate Change projections for long term planning

Seasonal Forecast

Temperature and rainfall outlook for the next 3-months

Climate analysis

Long term analysis of climate data and risk assessments

Hail

Hail alerts and verification of historical hail events

Caelum

Provides a list of reported weather related disasters.

Lightning

Lightning alerts and verification of historical lightning events


 

1

 

Districts Rainfall Stats (DRS)

 

Additional Information

Data Type

Text

File Format

Microsoft Excel

File Size

Small

Frequency

Monthly

Thematic Application Area/ Target Market

·         Government

·         Farmers

·         Researchers

·         Universities

·         Financial sectors etc

Coverage

South Africa

 

 

Dissemination Channels

·         Email

Product Benefits/Impact to end – user

District rainfall calculates monthly rainfall for the 94 rainfall district regions across the country. This is the best option for clients who are interested in rainfall for the whole country but don’t have time to look at individual stations. Long term analysis can include trends, percentage of normals, Standardized Precipitation Index (SPIs), etc.

 

2

 

Provincial Rainfall Stats (PRS)

 

Additional Information

Data Type

Text

File Format

Microsoft Excel

File Size

Small

Frequency

Monthly

Target Market

·         Government

·         Farmers

·         Researchers

·         Universities

·         Financial sectors etc

Coverage

South Africa

 

Dissemination Channels

·         Email

Product Benefits/Impact to end – user

The product provides a general overview of rainfall across the country. It is ideal for clients who are only interested in one rainfall value per province per month.

 

3

 

Climate Change Reference Atlas (CCRA)

Provide a Hyperlink: https://www.weathersa.co.za/home/climatechangeatlas

https://www.weathersa.co.za/home/extremeclimateindices

 

Diagram, map

Description automatically generated

Additional Information

Data Type

NC, Shapefiles, Jpeg

File Format

Shapefiles, Jpeg

Frequency

5 years cycle

Thematic Application Area/ Target Market

·         All Sectors

Coverage

National, Provincial and municipality

Dissemination Channels

Product reports are available on the website. Raw data for further value add are available upon request and commercial terms

Product Benefits/Impact to end – user

The Climate Change Reference Atlas provides a general impression of climate change scenarios compared to the present climate, at a high resolution of ~4 km. These scenarios are for various periods and emission scenarios and can assist with initial long-term planning for all climate-sensitive sectors. The information can serve as a preparatory phase for more in-depth future scenario research, relevant to a specific sector.

 

4

 

Climate Data (CD)

 

 

Additional Information

Data Type

Text

File Format

MS Excel, MSWord, Pdf

File Size

Request dependant

Frequency

Upon request

Thematic Application Area/Target Market

·         All Sectors

Coverage

South Africa

Dissemination Channels

·         Email

Product Benefits/Impact to end – user

Long-term analysis, understanding of weather and climate of the area, verification of weather conditions in the area.

 

5

 

Specialized Lightning Report (SLR)

 

 

Additional Information

Data Type

Text or Excel

Data Formant

Report PDF or MSWord

File Size

Small /Medium

Frequency

Upon request

Thematic Application Area/Target Market

·         All sectors

Coverage

South Africa

Dissemination Channels

·         E-mail

Product Benefits/Impact to end – user

To accurately determine the position and strength of a ground strike. Used to validate insurance claims.

 

6

 

Lightning Verification Report (LVR)

 

 

 

 

Additional Information

Data Type

Text

File Format

MS Word, Ms Excel

File Size

Small

Frequency

Upon request

Thematic Application Area/Target Market

·         Private Individuals

·         Legal

·         Insurance

Coverage

South Africa

Dissemination Channels

·         Digital platforms

Product Benefits/Impact to end – user

Confirming if there was lightning or not within a given area, mainly used to process and to validate insurance claims.

 

7

 

Caelum

 

 

 

 

 

Additional Information

Data Type

 

File Format

Word, JPEG, PDF, Video

File Size

Small

Frequency

 

Thematic Application Area/Target Market

·         Insurance

·         Disaster Management centres

·         Academia

·         Consulting firms

Coverage

South Africa

Dissemination Channels

·         Email

Product Benefits/Impact to end – user

·         The publication provides a list of weather-related disasters used by researchers for case studies, verification studies, etc.

·         Used in mitigation and adaptation studies by researchers, consultants, government, etc. It is also used by disaster managers for planning purposes.

 

8

 

 

 

 

 

Hail Verification Report (HVR)

 

 

Additional Information

Data Type

 

File Format

PDF

File Size

Small

Frequency

 

Thematic Application Area/Target Market

·         Insurance

·         Legal

Coverage

South Africa

Dissemination Channels

·         Email

Product Benefits/Impact to end – user

The product confirms if there was hail or not within a given area, mainly used to process and validate insurance claims.

 

9

 

Monthly Drought Bulletin

 

 

 

Additional Information

Data Type

PDF

File Size

 

Frequency

Monthly

Thematic Application Area/Market

·         Government

·         Farmers

·         Researchers

·         Universities

·         Financial sectors etc

Coverage

South Africa

Dissemination Channels

SAWS website: https://www.weathersa.co.za/Documents/Climate/nr_drought.pdf

 

Product Benefits/Impact to end – user

 

The product serves as a valuable tool for decision makers in government, enabling them to effectively monitor drought conditions and allocate resources accordingly. It is also useful across different sectors, i.e., farmers for planning purposes, investors, and insurance companies.

Researchers may use the product to pick up case studies for further investigations.