Perils Risk Assessment

Best-in-class technology and data providing risk-based information on the precise location of properties and their associated perils

LexisNexis Map View uses best in class technology and data sources to ensure insights can be accessed or visualised in relation to the precise location of a property and its associated peril risk.The platform gives you the ability to assess a variety of peril risk scores including flood, subsidence, crime, and arson, which can be used to support more accurate, optimised pricing that truly reflects the risk of the property either at point-of-quote or post-sale.Map View also allows you to map and visualise the property location being underwritten or quoted for alongside other policies in your book of business, prior claims, and against quote data, providing data-driven insights at the touch of a button, right when you need them. As part of the visualisation platform, Map View provides several different features and functions that allow you to gain a better understanding of the risk you want to write or in the case of a major weather event, the risk to your book of business. Some of these key features and functions include:

Precise Geocoding

Risk filters

Perils Scores and Layers

Single Hazard or Multiple Layers Visualisation

Read on to learn more about each feature or click on the features listed above to find out more about them

Precise GeocodingOur proprietary geocoders are built using a combination of our technology and external address dictionaries, which allow addresses to be cleansed, matched, and located more accurately.

How can Precise Geocoding help you:

Price more accurately by overcoming addressing issues like non-complete address, place name ambiguity, and vanity addressing
Reduce risk through over-exposure by knowing exactly where your risks are located
Lower reinsurance costs through better control of your accumulations of exposure
Access granular information corresponding to each geospatial risk allowing for quick and easy identification of the perils to your business

Risk FiltersOur risk filter tool can be used to display underwritten locations from across a book of business, but also locations from quotes or even speculative test data sets in order to analyse the data with a greater depth of granularity. When used in conjunction with other interactive tools such as user drawn shapes, usual marker displays, and totals summaries you can gain an understanding of your perils exposure in specific geographic areas.This location filtering tool also allows for selective inclusion or exclusion of specific locations in visualisation, scores and calculations. It is also possible to add new filtering criteria based on the attribute name or type.

How our risk filter tool can help you:

Gain granular understanding into specific or multiple locations through multiple filtering parameters
Perform criteria-based inclusion or exclusion of specific locations in visualisation, scores and calculations
Quickly and easily identify exposures by line of business, product type, and bands of Total Sum Insured

Peril Scores and LayersPeril risk scoring is one of the main features of Map View. The feature allows for every insured property location on your book of business to be mapped and scored based on the risk to your choice of perils.Once a location is mapped, the peril scores for this location will be shown in the Perils Panel and will highlight if the location contains any issues for example risk of subsidence and exposure to flood. Map View contains a wide range of perils data sets offering global coverage, as well as localised data, offering better accuracy in a specific area.

Our perils risk scores allow you to:

Immediately visualise and understand the exposure to all categories of perils risk across your entire book of business
Gain a deeper understanding of the nature of risk locations in order to make accurate decisions when underwriting
Experience granular understanding of perils risk through tailored scoring configured to your business rules
Identify all policies that have significant exposure to perils risks attached to their location

Map View contains many perils and hazard layers within the platform, such as flood, subsidence and crime. With the help of our team of data scientists, Map View is able to deliver these data layers back to you for visualising and scoring.

How our perils overlay layers tool can help you:

Visualise a queried risk location on top of individual peril layers
Effectively identify and visualise the accumulation of risk per peril
Visualise a single hazard layers or multiple layers together
Customise the transparency of each displayed layer relative to the base map and one another

Single Hazard or Multiple Layers VisualisationThe single hazard or multiple layers visualisation feature allows you to view one or multiple hazards related to a particular location you are looking to underwrite in one view, to help you determine whether there are surrounding risks to the location or property. Multiple hazard view allows you to make quick, informed decisions on the risk of the property.

How our Single Hazard or Multiple Layers Visualisation tool can help you:

Gain a clear and instant view of the surrounding risk of a property
Effectively identify and visualise numerous risks through multiple layers visualisation