Gaining competitive advantage with ESRI (UK)

Just how accurate are your systems?

In insurance, location plays a huge part in establishing the level of risk an insurer is exposing itself to. But the traditional method of establishing a location – using postcodes – can allow the insurer to accept a policy that leaves it unnecessarily exposed. For instance, can a postcode accurately determine whether a property is located on a flood plain? Does a postcode take into account the potentially high intrinsic risk of a property next door to the policyholder – such as an embassy, a bail hostel or a high profile financial organisation? And what happens when there are multiple policyholders with different postcodes all operating within the same building; do you have any visibility of its high, accumulated risk?

ESRI (UK)

That’s why ESRI (UK) has designed the ESRI (UK) Insurance Platform – enabling commercial property insurers to understand the location of a property in relation to a risk far more accurately than ever before. Thanks to the software’s sophisticated in-built mapping technology that uses precise xy coordinates to pinpoint the location of a property, insurers can accurately establish the distance between a building and a nearby risk, within 1-2 metres of accuracy – for both postcode and non-postcode locations.

Optimised business

But that’s not all. This has ramifications for the whole operation of the insurance function, end-to-end.

Because of the single pool of accurate, location-based data and ESRI (UK)’s interoperable range of tools, ESRI (UK) can join up activities across your business – from underwriting, to reinsurance, to corporate governance, to marketing and sales, to claims handling and fulfilment. The result is an optimised business that is more accountable to regulators and shareholders, more appealing to customers and, ultimately, far more profitable than it was before.