Insurance is an inherently geographic business
The relationship between someone’s home and the physical geography surrounding it will determine whether they are susceptible to flooding or fire. The connection between neighbouring office blocks and shopping centres will inform the underwriter on the potential for fire to spread between multiple risks.
Patterns revealed by connecting the addresses of your policyholders to data about demographics, claims history, and changing house prices allow the marketer to more accurately target profitable customers.
Around the world, insurers are waking up to the value to the business of adopting geographic thinking, and are implementing Geographic Information System (GIS) technology to extend or maintain their competitive advantage and reduce risk.
Download this presentation to learn:
- How the playing field has changed and how GIS can help you to determine risk rating and pricing.
- How GIS can be used beyond just property risk rating and extended across all areas of an insurance business.
- How to better assess risk, and how to do it instantly via automation.
- How to deliver a more personalised customer experience.
- How to increase ROI on marketing by targeting more profitable customers.
If you have further questions about GIS in insurance, contact one of our GIS experts to discuss your requirements.