Insurance Making insurance surer

The risk management and insurance world can reap great benefits from geographic information systems. The physical location of a risk and its proximity to other insured risks is critical to the predictable propensity for many insured perils. Typically, these include earthquake, flood, windstorm, fire and terrorism, which have gained a higher profile recently.

Management of underlying risk data and its exchange between relevant parties has often been poor. Consequently, location analysis of peril data, while readily available, has frequently fallen at the first hurdle. The technologies themselves have also been cumbersome to use, not freely available to end users and built on competing platforms that negate interoperability.

GDC brings together GIS-based technology and integrates within underwriting, risk modelling and claims management processes. Used in conjunction with an insurer’s own data, GDC’s contribution produces a comprehensive range of benefits.

- A greater understanding of the risk type and customer base.
- More accurate events modelling and loss predictions.
- More competitive risk assessment.
- Swifter claims and higher customer satisfaction.
- More efficiently managed contractor networks and field resources.
- Better detection of fraudulent claims and identification of trends and anomalies.
- Improved coordination and easier data sharing.
- Savings of time and resource.