Swiss-based catastrophe data company Perils has launched an Australian version of its real-time windstorm forecasting tool, which predicts property losses for insurers.

Wind-Jeannie Australia has come into operation just in time for the tropical cyclone season, which starts next month.

Like Perils’ European platform, Wind-Jeannie Australia can provide estimates of insured property losses from windstorm events expected in the next 72 hours.

The platform takes less than 15 seconds to produce a loss forecast, which can be broken down according to states, territories and postcodes.

Users have the option to set up email alerts for event losses of above $100 million.

Perils says the European platform it launched three years ago has proved effective in providing critical data to insurers when windstorm events unfold. It expects a similar result in Australia.

“Wind-Jeannie Australia provides a new perspective on windstorm risk for the region as we move into the upcoming tropical cyclone season,” Perils Head of Asia Pacific Darryl Pidcock said.

“It offers multiple benefits to users such as supporting insurers’ preparation of claims and loss adjusting resources, timely internal communication to senior management on possible losses and the potential for it to be used as a tool to facilitate trading of cat risk.

“We will look to enhance [it] by collecting loss information from actual events and comparing these to the forecast losses provided by the platform.”

IAG has already signed up for the platform, which it says will help with cyclone season preparations.

“[It] will support our ability to understand the potential impact of an approaching windstorm event and help us prepare our teams to respond quickly in the aftermath of a major event,” Reinsurance Operations Executive Manager Nick Hartry said.