Location Intelligence in Insurance

Prevent premium leakage, assess risk and deliver superior claims services.

 

Risk assessment, address data quality, data aggregation, data enrichment, and location intelligence to gain operational insight and visualization – improving efficiency and results that affect the bottom line.

Insurance fraud detection and mitigation: Insurance fraud accounts for at least 10% of all insurance premiums, a percentage that has remained relatively constant over the past two decades. Today, insurance companies use software and statistical analysis to identify suspicious claims for further investigation. However, this is commonly a post-event investigation instead of pre-event prevention.To enable insurers to improve their fraud mitigation efforts, Pitney Bowes Software provides integrated technologies to accurately identify and assess fraud activity at the Point-Of-Sale, and First Notice Of Loss – all in near-real time. Combining data with analytical and multi-channel communication capabilities, our solution provides critical insight for better fraud identification and mitigation to help carriers improve profitability.

Enterprise-wide single view of risk:

To enable insurers to gain a common operational view of risk across their organisation, Pitney Bowes Software provides integrated technologies to accurately identify, assess and monitor risk from an individual policy level to an aggregated, book-of-business view – all in near-real time. Combining data with geo-spatial and analytical capabilities, our solution provides critical insight for better risk management decisions to help carriers maintain profitability and solvency. Our platform provides for an integrated solution that delivers:

  • Best-in-class precision geocoding
  • Near real-time analysis of exposed geographic areas
  • An operational view of risk across the organisation
  • Helping decision makers assess the overall risk the company is taking on
  • Maintaining profitability and solvency

The ST Group offers a wide variety of datasets pertinent to the insurance industry including demographic information, geology data, lightning data, and rainfall data.


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