Do you need to improve your underwriting, price more accurately, reduce your claims or identify risk more effectively? With the help of Ordnance Survey partners, you can.
Identify 26% more properties at risk of flooding
Imagine having access to property information right down to individual flat level. Think how much easier it would be for you to manage flood risk and underwrite accurate policies.
Ordnance Survey data enables you to see insurance claim hotspots so that you can identify fraudulent applications quickly. Our geospatial data goes beyond postcode analysis. It gives you detailed information about individual properties.
"Some five million properties across the country, or around one in six, are at risk of flooding from coastal, river and surface water. And climate change is increasing the risks of extreme weather and floods, a report by the Public Accounts Committee said.” - Guardian 2015.
Mitigate risk and reduce claims and you’ll improve your customer experience, too.
Detect fraud quickly
Are you feeling frustrated by increasing fraudulent claims? You’re not alone. Every day, insurers uncover hundreds of insurance fraud cases worth millions of pounds, according to the Association of British Insurers (ABI).
OS geospatial data gives you confidence when lending money and providing insurance to your customers. Verify addresses and flag hot-spot fraudulent areas and applications to prevent further fraud and support claims in court.
Let us help you ramp up your analytical capability. By linking to multiple datasets you can realise the bigger picture and uncover the value of information available.
Manage mortgage risk
Working in the lending sector you’ll know that fraudulent mortgage applications are an increasing challenge.
Our addressing data helps you minimise risk and prevent mortgage fraud. It helps you understand the geography around a property, and with this knowledge you can identify risk and realise how risk affects valuation.
Having access to the most up-to-date addressing information will let you spread the concentration of your mortgage properties. Prevent fraud and you can ultimately reduce your business costs.
Minimise risky business loans
Are you under increasing pressure from the Bank of England to reduce your risk levels?
The demand for loans within the SME market is increasing due to issues with cash flow. And with growing competition in this market, banks need to be responsive. You also want to limit your exposure within this lending.
Feel confident when your decisions are based on our accurate and current geospatial data.
Ordnance Survey data has proved to be invaluable, enabling us to accurately locate our customers to their individual properties, identifying the spatial extent of postcode boundaries and visualising the surrounding area with detailed background mapping. This means our loss adjusters can immediately respond to our customers’ needs.”— Rob Osment, Global GeoRisk Director, RSA
We use Ordnance Survey data as part of our geocoding solution for reinsurance, controlling our exposure and for pricing. The more detailed data enables us to more accurately predict the risk and therefore impact the pricing and how we want to target individual cases.”— David Williams, Technical Director, AXA