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Price more accurately

  • We don't just see an area of identical ratings

    We see data so you can more accurately price risk

In an increasingly competitive marketplace, the importance of accurate pricing has never been greater. So when it comes to writing profitable policies, it's vital your pricing methodology takes full advantage of the data at your disposal.

Using Britain's most accurate and up-to-date geographic intelligence allows you to tailor premiums to make dynamic pricing decisions. It lets you build a single customer view using geography to underpin your data across legacy silo systems, pulling together both external and internal datasets in one place.

Price at individual and address level

By bringing together data on accumulated risk, customer claims and perils, our geographic intelligence provides new ways of analysing and sharing information.

And with the ability to pinpoint the locations of your policies at individual address level, you can price more profitably and give yourself the edge over the competition. You can:

  • Price at individual address level rather than postcode banding
  • See a 26.7% increase in the number of properties correctly identified in flood risk zones compared to postcode banding
  • Tailor premiums and make dynamic pricing decisions
  • Bring together disparate data from external and internal sources to create a single customer view
  • Make faster and more accurate calculations of exposure to risk
  • Identify and prevent fraud more effectively

Improving performance

This development has given us a step change in underwriting capability. Geospatial tools are at the heart of how we are developing more sophisticated risk selection and pricing techniques.

David Cahoon, Direct Line Group

Direct Line Group has put geospatial tools at the heart of their underwriting. Combining it with 20 years of internal data allows them to validate all the perils and underwriting guidance. This not only gives them a comprehensive understanding of the property's exposure to risk, but a clear picture of its claims history and the group's past and current exposure in the local area.

This provides a highly detailed view of risk, providing a process that is much more rigorous than had previously been achieved. The platform also has the ability to control and alter the risk profile as well as the portfolio's likely performance and the level of capital needed to support the business.

You can view our location intelligence products, download free sample data or use OS OpenData™ products.

Contact us for more information.

Related products

AddressBase products are an essential source of detailed location intelligence for both business and government.

A detailed, street-level, backdrop map that you can customise, OS VectorMap Local is ideal when you need a map tailored to your project or web applications.

Contact us

Get in touch for more information about how our data can help your business.

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