This week was the prestigious Insurance Times Awards and a couple of the Ordnance Survey team were lucky enough to go along to meet up with some of our key customers and industry contacts. Attended by over 1400 insurance industry professionals, it’s one of the largest events in the Insurance industry’s calendar. We’ve been supporting the awards, which celebrates and recognises the best of the best in the industry for two years now by sponsoring the award with the highest accolade – the Chief Executive of the year as recognised by their peers, fellow Chief Executives.
With so much uncertainty in such a highly competitive market place insurers rely on accurate intelligence to stay ahead. Intelligence to help them reduce fraud, plan for contingencies or help comply with legislation like Solvency II. Ordnance Survey’s geographic intelligence is also used extensively to accurately underwrite profitable business the industry relies on by pinpointing individual addresses and assessing risk rather than banding up properties into postcodes and assessing the risk for the group of properties. Used in this way our data makes a difference to the bottom line, identifying 25% more properties that had previously may have been too high a risk to underwrite.
We are delighted to be able to support the awards and be a part of celebrating exceptional achievement throughout the insurance industry. The ceremony was hosted by Vernon Kay and the big winners during the night were Aviva who picked up three awards including General Insurer of the year. RSA won Claims Initiative and Chartis picked up Fraud initiative of the year. The Chief Executives chose Keith Morris from Sabre as the Chief Executive of the year for his leadership and the companies’ continued growth in spite of tough trading times and squeezed margins in the motor insurance market.
Ordnance Survey would like to thank all of our financial services customers for their continued support and congratulate all of the winners.