With many insurers re-examining their approach to risk to ensure Solvency II compliance there is a growing demand for greater precision in identifying individual risk locations and their associated exposures. There is a need to identify your exposure in a single location across treaty, facilitative and securitisation markets.
- Solvency II legislation requires insurers and reinsurers to accurately manage their risk portfolios.
- The accurate reporting of accumulation due to several systems or even locations being involved in the process.
- Capital availability.
- Real-time accumulation management becoming a business need.
- Costlier and more stringent underwriting required.
- Managing reinsurance costs.
Location intelligence can help you to:
- Pinpoint the location of risks at individual address level – adding a valuable dimension to understanding your overall risk exposure in your commercial and personal lines property portfolio.
- Combine your own and third-party data with our location intelligence – enabling greater insight into risk accumulation, evaluation and management.
- Build a thorough understanding of accumulated risk within given locations or areas – helping to identify hotspots and trends.
- Improve your reinsurance costs
- More accurately manage risk exposure
- Gain a better understanding of your current risk portfolio and customer base
- Get a greater insight into accumulated risk
- Minimise your risk and therefore optimise the cost of your risk portfolio
- Increase revenue and profit by identifying and managing opportunities and challenges
- Price competitively
Contact us for more information.