Insurance is all about managing risk, and so much of risk is related to location. Which areas entail the most risk, whether from natural factors or man-made conditions? Who lives in flood-prone areas, where is crime highest, or which landfills contain toxic waste? Geospatial technology, spatial data, and mapping solutions from TerraNOVA International will help you better manage risk in your portfolio.
Using location as the basis of risk analysis has its roots in simplicity. Every policy you carry is associated with a location. Our solutions allow you to accurately pinpoint and verify that location as well visualize and understand its area. Using this information, you can make more informed decisions regarding:
- Level of risk for any location
- Setting premium rates
- Balancing overall risk in your portfolio
- Detecting fraudulent claims
In addition, many insurance carriers and underwriters use our solutions to improve sales, marketing, and customer service efforts. The location of agents can be mapped and analyzed to help ensure you have the market covered and are conveniently located to policyholders. Claims adjusters can be routed effectively in times of events that lead to multiple claims; and repair shops, preferred contractors, and others who service policyholders can be located quickly and easily to improve service.