Increase property underwriting profitability with better risk assessment and exposure management delivered through visualisation
LexisNexis Map View is a geospatial service concentrated on peril and accumulation scoring. Scores are supplied via a point of quote API or a User Interface optimised for and widely used by the insurance industry. It enables property insurance providers to aggregate scoring data from multiple sources, allowing them to make more informed underwriting decisions and to better manage their risk and exposure. It allows providers to visualise a variety of perils and accumulations, while providing the insight to control and manage portfolio risk and exposure
More Accurate Risk Assessments - Aggregating key risk data at the point of sale and point of quote allows you to make more accurate risk assessments at the individual property level.
Precision Pricing - Precise geocoding enables you to more accurately assess the risk, allowing for more fairer pricing.
Greater Visualisation and Granularity - Mapping and visualisation of the property location alongside other policy risk locations, prior claims and quote information empowers you to truly understand perils exposure across your book of business.
Increase Visibility into Overall Exposure - Better understand your exposure hotspots from an accumulations standpoint and optimise the risk profile of your entire portfolio.
Improve Accumulations Management - Gain visibility into where you have an over or under concentration of policies - allowing you to take the appropriate action to manage your business and ensure profitable underwriting, while also helping reducing your reinsurance costs.
Standardise Underwriting Best Practices - Achieve underwriting consistency company and channel-wide with a standardised approach to risk selection and underwriting.
Key features include:
