Insurers have a threefold problem
- They need to understand where their insured risk is based. This helps them decide where they may be over-exposed and where they have excess capacity
- They need to understand the potential impact of problems, so they can understand the operational and financial magnitude of a threat if it arrives
- They need to respond to a problem, after the event, delivering their service in a cost-effective manner
Location Data Analytics
Mapcite’s analytics and visualisation application empowers business experts to quickly model risk events based on location, test outcomes and create new workflows.
- Better understanding of where the insured risk is located and therefore levels of additional capacity on a location basis.
- Analytics capability enables the quantification of the impact of threats on a geographic basis, both total value and number of potential claims.