Not knowing all the relevant factors linked to a physical location can put insurers at a competitive disadvantage when underwriting UK property risk. The local environment, type and construction of buildings, population demographics, and major insurance perils all need to be considered for more precise underwriting and risk selection.
Individual property risk can vary drastically from one location to the next. Location Matters allows you to visualise and manage your exposure and can help to vastly improve risk selection and your underwriting profitability.
Gain deeper insight into the properties you insure at a postcode or an address level and assess their associated risk.
See relevant risk scores at the postcode level for major perils such as theft, flood, subsidence, fire, storm, escape of water, or freeze—and at address level for selected risks.
Better manage your exposures with insight into the accumulations of risk across your portfolio—while you identify more profitable opportunities and reduce reinsurance costs.
You can get reliable property characteristics—including building age, roof type, wall type, floor area, and number of storeys—for 29 million addresses across the UK.
Interactive maps that use internal and external perils models and geodemographic classifications allow you to visualise all the different risk accumulations at an individual address or postcode level.
You can upload your own data (such as ratings, policies, or claims) onto the map, layer different perils and their likelihood, create potential loss scenarios, and apply your own underwriting rules.
Claims departments can also use Location Matters to assess the validity of individual claims from audit reports that provide historical insight into property risk at a specific time.
When making underwriting decisions for any given property, you can log in to Location Matters to look up that address and identify all the property, perils, and geodemographic data to remove any doubt from your risk assessments.
Our suite of underwriting tools and data sets provide granular and accurate insight into the risk associated with any building and the people who live there, along with previous claims information and relevant perils exposure at a postcode or address level.
Underwrite more accurately and efficiently with near-instant building characteristics of residential properties using high-resolution aerial images, street-level mapping, and high-quality proprietary data sources.
Receive more precise risk estimates of major insurance perils at the postcode unit or address level, including theft, fire, subsidence, escape of water, freeze, flood, storm, and accidental damage.
Make sense of large geodemographic classifications and track insurance uptake trends across your client base for product builds and marketing offers. Generate risk assessments of customers based on their claim frequency and average claim value.
Identify any address of the 30 million addressable properties in the UK. Ensure your addresses are accurate when making use of any address-level risk model.