Why Geocoding and Data Enrichment Matter in Modern Insurance
In this article, we explore why precise geolocation and contextual property intelligence are fundamental to insurance, and what insurers risk when these elements are missing or misapplied.
In this article, we explore why precise geolocation and contextual property intelligence are fundamental to insurance, and what insurers risk when these elements are missing or misapplied.
The integration of Gamma Risk’s Perilfinder™ into Cytora’s advanced underwriting productivity tool will provide insurers with enhanced tools for precise risk evaluation and management. Perilfinder™ is a cutting-edge address-level risk assessment and reporting solution that includes map visualisation, intuitive risk and accumulation scoring, and powerful spatial catastrophe models.
Gamma LI and MGAM are supporting the Department for Levelling Up, Housing and Communities in the UK with a solution to provide Professional Indemnity Insurance to external wall system assessors. This partnership serves as part of Gamma LI’s ongoing growth strategy and continued international expansion.
Gamma LI is expanding its operations into international markets. The company has visualised Ambiental Risk Analytics data for Spain through its Perilfinder™ platform. The analysis reveals which provinces are most at risk of flooding.
InsTech’s Matthew Grant was joined by Gamma Location Intelligence’s Chief Commercial Officer, Richard Garry and CEO, Feargal O’Neill. The discussion includes the challenges of local address data in Ireland and the UK, measuring carbon emissions, creating complete crime data analytics from different sources and how they’re working with partners.
Gamma LI will be integrating Sust Global’s data into its Perilfinder™ platform, enabling access for clients to worldwide, forward-looking climate change hazard maps and APIs. This will be the first time that Sust Global’s models will be available for insurers and banks on an underwriting platform like Perilfinder™.
Superscript delivers subscription-based policies and is transforming business insurance to meet the fast-changing needs of SMEs. Its advisory service, ‘SuperscriptQ’, helps high-growth technology businesses to secure cover easily. To support its offering, Superscript is also building an impressive partner network, having already joined forces with Virgin Money, Amazon and Starling.
Climate change is already affecting our daily lives, but its effects upon the weather will become far more marked in the years to come. Property insurance premiums are affected by the impact that storms and wind speeds have on buildings and the built environment. However, the windstorm evidence and projections for the impact of climate change are not well developed. In this article, together with MetSwift, we explore the observed trend in strong wind events since the 1970s, using a 50 mph wind gust threshold.
Increasingly, insurers and financial institutions have to consider environmental factors and climate change which could have a major impact on their business and customers. In fact, we are reaching the point where extreme years of subsidence claims, such as 1990/1991, 1997/1998 and 2018, could become the new normal.
Gamma Location Intelligence provides insurers and MGAs with accurate location data to support underwriting decisions. Chief Commercial Officer Richard Garry joins Matthew Grant on Podcast 140 to discuss the key issues of concern to insurers, pinpointing risks through geocoding, and much more.