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.
Policy Pricing Optimization
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.
“CARTO has allowed us to geo-enable our data, multiplying our reach. This extra reach allows us to work on things that affect people very directly, which is an essential part of our mission at SwissRe.”
Senior Data Scientist at SwissRe
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