OS MasterMap^® – in Insurance

The insurance industry is increasingly using mapping technology to help with activities such as managing risk, claims and fraud. This can in turn enable more competitive pricing and better management of reinsurance cover.

The key is the ability to link different kinds of information to a specific location such as a postcode, street, address or geographic co-ordinate. Part of OS MasterMap (Address Layer 2 ) involves address data which uniquely pinpoints or 'geocodes' more than 26 million addresses recorded in the Royal Mail Postcode Address File (PAF).

This instant link between address and location specifically enables highly targeted insurance activities beyond the postcode level such as assessing risk, setting premiums and settling claims. As well as flood models, the link can also apply to other peril models.

Ordnance Survey's address data can also support data exchange and association, giving insurance companies potential competitive advantage based on more relevant information and improved decision making.

Further information

"With geographic information, we could see the various hotspots and patterns. Geographic information offers a quick, easy and professional resource for briefings, which draw in a great deal of data showing the relationship between people and place. The data is enhanced by analysis of address and individual claims history to uncover any correlation between staged vehicle accidents, claims, fraudsters, benefit fraud and subsequent absence from the UK"

(Kevin McDonald, fraud analyst at Zurich Financial Services)