Case Study

Insurer targets location accuracy to lower policy risks and improve pricing

Insurer targets location accuracy to lower policy risks and improve pricing

Pages 2 Pages

Overview When this property-and-casualty (P&C) insurance leader replaced its outdated policy administration system with a third- party cloud solution, it needed a better way to determine exact property locations. Geographic precision allows the insurer to view where policies are located, down to the parcel- or building-level, providing information such as their proximity to different kinds of risk. With this information, insurers are ready to generate more accurately priced policies. While adding this step to their internal processes, this information also needed to seamlessly integrate into the new policy administration system. Business challenge The insurer’s legacy geolocation software vendor was able to provide information at the parcel (lot boundary) level only about 5

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