Insurance

How GIS encourage the insurance companies’ success

Geography is essential to better understand customers, insurance policy, risks and resources. A GIS provide tools to insurance companies in order to facilitate their management of geographical lost risks. This encourages their success, staying competitive on a more and more sophisticated market.

Take care of your customers.

Insurance and traffic accidents

Maps enable us to have examples of analysis. Here, we can see the circulation accidents one where data are located in the time and the space. This allows to anticipate risks, better understand the situation and better prevent.

Claims processing
The insurance companies proceed to an investigation, a survey and a validation of the content of each statement.

A GIS allows to complete reporting systems, do a location and the customers’ statement. We also proceed to a visualisation of the affected areas and so, to create of the evacuation itinerary and maps delimiting the accident area.

Risk Assessment
Selecting a risk is a process that allows insurers to make the difference between good and bad risks to better adjust rates accordingly. Geographic data are associated to risks because in particular cases, some specific claims are more frequent.

A GIS helps insurers in the risks analysis, visualisation and distribution in the space without having to resort to the illegal geographic exclusion process.

Insurance companies use GIS systems for several procedures. They can make the identification of the potentially maximal risky areas, the creation of the claim history but also the management of the different rules and possibility of risks and rates definitions for concerned states, regions or country. Finally, we also have the mapping of areas where the fraud risks are more important with the preventive plans conception accordingly.

Use Case : Thanks to the knowledge that we have about the dynamic of maps and coastal risks, the coastal conservatoire have been able to identify the dynamic and the danger constitute by the coastal area weaknesses of Normandie’s and Hauts-de-Seine’s regions to better anticipate them and allow a better preparation.

Reinsurance
Subscribers are searching for, by their claims, to limit the financial risks thanks to the insurers intervention. These must address themselves to reinsurance societies to manage all type of considerable financial loss that can occur in the case of flood, fire, earthquake, accident, volcanic eruption, tornado, or also accident and terrorist act.

To make the risk evaluation, the insurers essential tool is the GIS from which are mapped data about dangers and catastrophes. This enables to have an efficient trend analysis in the insurance sector. The improvement of the risk selection arises from the future events consequences prediction thanks to the evaluation and the modelization of damages in case of problem. The use of geodata allows insurers to bring more easily better decisions all in producing results.

Mapping the water height enables the visualisation of rights of way of a flood area to better identify and understand results as housing that can be impacted.

Market development
The operation of the insurance market is cyclical: there is an alternation between profitability periods and darker market ones. However, insurance policy subscriptions remain stable. Rare are people who subscribe to several contracts due to the offer diversity and the cheap prices.

Insurance companies have all the same to be more creative in their new market research, as well as the way they use to retain their existing customers.

The GIS software, associated to demographic data set, enables to insurers to take note of existing and potential customers, and this modelling new perspectives. GIS allows users to visualize easier their potential catchment area than in database visual with numbers and columns.

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