JERSEY CITY, N.J., November 2, 2015 — ISO announced today the addition of SecurityGauge® crime data and maps to ISO RiskElements™, a service that provides companies with the high-quality, model-ready data they need to help them build their own predictive analytics. ISO is a Verisk Analytics (Nasdaq:VRSK) business.
SecurityGauge crime data features a wide range of crime risk statistics and maps that can be viewed by community, neighborhood, or individual address. The data comes not only from local police but from a meta-analysis of over 9.4 million crime incidents reported from more than 18,000 local law enforcement agencies nationwide.
“The new SecurityGauge crime data is a major enhancement for ISO RiskElements,” said Phil Hatfield, head of modeling data services for ISO. “By understanding the specific types of crimes and their prevalence in each community, companies will be able to create better models to help predict risk. Our evaluation of SecurityGauge also revealed predictive model lift for personal injury protection and comprehensive coverage in personal auto and for fire, theft, and other property damage in homeowners.”
ISO RiskElements offers access to the unique data sets ISO has developed and used for years to conduct its own analytic research — including ISO aggregate data, public data sources, and data from select third-party data providers — all of which is validated, scrubbed, and ready for modeling. The data can support research for a wide range of functions within a company, including marketing, actuarial and claims analysis, and product development.
To learn more about ISO RiskElements, go to www.verisk.com/riskelements.
Since 1971, ISO has been a leading source of information about property/casualty insurance risk. For a broad spectrum of commercial and personal lines of insurance, ISO provides statistical, actuarial, underwriting, and claims information and analytics; compliance and fraud identification tools; policy language; information about specific locations; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. ISO is a Verisk Analytics (Nasdaq:VRSK) business. For more information, visit www.verisk.com/iso and www.verisk.com.
SecurityGauge® is the NEW industry benchmark for crime risk assessment. With a full complement of crime and fraud risk data for every U.S. address (including Puerto Rico and the U.S. Virgin Islands), it delivers 48,000 times the spatial accuracy of the previous industry benchmark, and provides proven predictive accuracy that consistently exceeds 90%. SecurityGauge illuminates risks to inform underwriting, pricing, fraud detection, and market selection, as well as other key profit centers. For more information, visit www.SecurityGauge.com.