Using spatial data in portfolio risk models relating to extreme events (such as pandemics, hurricanes, earthquakes, floods & fires) can help insurers to minimize their losses. Using our platform, you can use our geocoding services to visualize policy holders on the map, overlay climate & disaster data, as well as automating the aggregation process & assessing proximity.
Whether it’s insurance for commercial or residential Real Estate, life or health - pricing policies more accurately & profitably is fundamental in order to better control accumulations of risk. Geospatial systems provide a way for insurers to reduce the level of claims they receive & move beyond zipcode level assessments.
Using address-level information to underwrite risk is now commonplace across the insurance industry. Bringing in new types of data relating to crime, flood risk, fire protection, hail & sinkhole risk can improve the efficiency of your workflows & models, creating easy-to-share dashboards for business users across your firm.