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Location Analytics for the Insurance Industry - Avoiding Catastrophe

Jul 27th 12:00 pm - 1:00 pm

Over 80% of all data now has a location-based aspect. Our geospatial analytics technology explores the relationships of risk data linked to a specific geographic location, driving predictive insights and helping to model potential future scenarios.

Predictive risk analytics can also transform underwriting processes and improve risk avoidance because insurers can model the potential impacts of peril events on insured properties during the quoting process, before the policy is issued.

Location-based, predictive risk analysis is driven by a single view of operational risk that comes from high quality and complete transactional data, precise geocoding and location intelligence, and superior visualization tools.

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LPA Software Solutions and Pitney Bowes have formed a partnership offering insurance companies best-in-class technology leveraging superior location-intelligence with the power of IBM predictive analytics to create a single view of risk, allowing you to not only anticipate catastrophe, but avoid it. flood.png

The ability to visualize a single view of risk provides a competitive advantage by combining multiple layers of information together displaying valuable insight into the insured, such as:

  • Point level geocoding accurate within 50 feet for 180MM addresses
  • Proximity to insurer hazards, such as flood zones, coastlines and earthquake areas
  • Points of interest impacting risk, such as airports, fire stations, hospitals and recreation
  • Building attributes and property data layers
  • Real-time weather data, including storm tracks
  • Census and demographics information for vulnerable areas
  • Crime rate and incident data
  • Historical claim locations
  • Agent locations

Leveraging risk visualization through a single, clear view of risk puts greater decision making power in the hands of actuaries, claims executives, chief risk officers, and upper level management.

Attend this free webinar to learn about how LPA and Pitney Bowes' location-based, predictive risk management technology will help you:

  • Make better risk management decisions, more quickly, and in the context of all other booked business
  • Analyze risk exposure down to the policy holder level
  • Optimize policy premiums through risk-based pricing
  • Discover unanticipated "hidden" risk
  • Improve responsiveness and productivity by predicting fraudulent claims, fast tracking valid ones
  • Manage agents more effectively by predicting the best cross-sell leads and increasing agent retention
  • Retain at-risk customers by discovering policy termination profiles and predict new offers likely to prevent them from leaving

Register today