The explosion of new data sources is revolutionising the insurance industry. Artificial Intelligence (AI) is enabling insurers to capture, unlock and analyse data in ways that people alone simply cannot.
However not all data is created equal – ensuring you make the best underwriting decisions means relying on robust, accurate data and using powerful tools to help you with those decisions.
The wide availability of data and sophisticated analytical tools opens up opportunities for insurers to visualise risk in new ways and create a deeper, more holistic view of risk across their entire book of business.
Designed to support underwriting decisions at the point of sale as well as help with accumulation and exposure management, Business Insight’s Location Matters© provides interactive maps displaying property location, risk, perils, policies and claims. Users can customise their view in and around a location to consider all possible risk influences, for a 360-degree view of risk.
Enabling insurers to get a granular view of a location’s particular risk, as well as the properties, hazards and geographic make-up of a specific area, allows underwriters to be more strategic when it comes to risk selection and pricing risk. Underwriters can map their book of business at an individual address level and assess accumulations of risk by locality. It can also be used within claims departments to assess the validity of claims.
Users are able to upload their own data and combine it with third-party information for a deeper understanding of the significance of factors that might impact their business going forward and to select more profitable risks more effectively.
Contact the sales team for more information on 01926 421408.