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Improved Risk Intelligence to Insurance Professionals |
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Written by Vector1Media
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PR - Infoterra Ltd, has launched a new Managed Service
solution to enhance business decision support for insurance
professionals by delivering improved risk intelligence.
Working
with Infoterra, underwriters, loss adjusters and other insurance
professionals will be able to combine their current and prospective
property portfolios with a range of geospatial information and perils
datasets. This will enable them to gain risk intelligence at an
individual property level and to have a comprehensive geographical view
of exposure in a given area.
By integrating a range of insurance perils datasets -
including country-wide flood risks, subsidence, and Home Office crime
statistics - with addressing, mapping, aerial photography and height
data, Infoterra can provide insurers with risk-ratings in a
geographical context. Location can be used to group risk from perils,
as well as provide a common link across multiple internal datasets
where connections were previously difficult to see. For example, there
may be a clear correlation between motor theft and property vandalism
claims in a given area.
Using the new Infoterra Managed
Services, insurance firms can quickly take advantage of a scalable
solution with answers delivered via a standard Web browser. The
interface and business rules can be customised, giving a tailored
solution without the cost and timescale associated with a bespoke
development. Thanks to Infoterra's highly secure data hosting facility,
insurance firms can receive dynamic quotation support - finding out,
for example, whether a given property might be subject to flooding or
subsidence - or work with Infoterra to obtain a regular analysis of
their complete book. All the data maintenance and storage is managed by
Infoterra, ensuring the latest data is always accessed and reducing
operational overheads.
"By combining the latest perils datasets
with our geospatial data we've created an extremely powerful decision
support capability," commented Gill Dickson, Divisional Sales Manager,
Insurance, for Infoterra Ltd. "Geospatial information provides the key
to integrating and amalgamating diverse datasets, and helps insurers
make a more informed judgement of risk prior to offering a new
quotation or to analyse a complete portfolio in order to establish
overall exposure."
"The ease-of-use and flexibility of our
Managed Service approach means that business managers don't get
distracted by the in-depth tools offered by GIS software, which are
best suited to scenario modeling. Instead they gain immediate answers
to key business questions such as, 'which of my insured properties are
exposed to flood risks?' or 'what is the rebuild cost of all properties
over two storeys in subsidence risk areas and on our books?',"
continued Gill Dickson.
Using the sophistication of Infoterra's
major £2 million geospatial hosting centre - Europe's largest dedicated
commercial geospatial data facility - answers to this kind of question
are available via the Web, and can be presented either as a simple
risk-rating in tabular form, or in the form of calculations based on
specific input data. Answers can also be offered within a geographic
visualisation tool, so that concentrations of risk or clusters of
related information can be easily recognised.
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Vector1Media |
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