Geographic Risk Assessment
Leverage location intelligence to visualise, analyse and understand geographic risks
An estimated 70% of all business data contains a geographic component: an address, a parcel number, proximity to another location. The ability to visualise spatial data helps organisations identify and assess geographic risks so they can make better business decisions. Location intelligence plays a critical role in risk-associated industries such as property and casualty insurance. It provides a superior vantage from which to measure and monitor geographic risk accumulation, and perform “what if” scenario analyses to consider a multitude of potential loss scenarios.
For instance, an insurance carrier can leverage location intelligence to accurately determine the potential loss exposure of a specific property. An underwriter can validate a policy address and view it in in relation to other policies or against a variety of geographic risk factors, including: earthquake faults and epicenters; flood zones; brushfire areas; fire districts and hydrant locations; historic hail storm and tornado sites, wind storm sites; historic hurricane paths; EPA Superfund sites; business types; or coastlines.
Geographic risk assessment solutions from Pitney Bowes Software can help insurance carriers to understand (analyse and visualise) total financial exposure to a given event or confluence of events so they can more effectively manage reinsurance treaties and geographic risk exposure on a real-time basis.
Our Solutions Offer Companies:
- Portfolio risk aggregation analyses
- Realistic disaster scenario and Probable Maximum Loss (PML) “what if” analyses
- Visualisation of 3rd party CAT models
- Real-time management and regulatory compliance reporting
- Seamless integration with existing databases, legacy systems and IT infrastructure
Learn more about Pitney Bowes Software solutions for operational intelligence contact us today to discuss your needs.
Managing Insurance Risk With Location Intelligence
The world’s leading insurance carriers use location data to assist in key business decisions and risk management. They rely on Pitney Bowes Software’s integrated location intelligence solutions for portfolio risk management, underwriting, rating, sales, marketing and distribution management, as well as effective claims management, fraud detection, and compliance reporting.
Geocode Address Locations To Pinpoint Business Decisions
When your business or service decisions depend on exact locations, a street address won’t always provide the answers you need. Understanding property locations, GPS coordinates, altitude and parcel assignments provides a clearer, more accurate view of customer data. Enrich your enterprise data with an automated address geocoding solution from Pitney Bowes Software. The Enterprise Geocoding Module, part of the Spectrum™ Technology Platform, returns specific geographical coordinates so you can assess risk, determine eligibility for service, calculate distance between two points, locate prospects and more.