NIG launches geospatial mapping tool

NIG launches geospatial mapping tool

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UK: National Insurance and Guarantee Corporation (NIG) has rolled-out a new geospatial mapping tool covering the whole of the UK including Northern Ireland. The insurer said that the software will be installed in the computers of the insurer’s underwriters giving them an instant and unique picture of each risk, at an individual address level.

The bespoke platform, developed in conjunction with ESRI UK, provides underwriters with market leading geographical data on the risks of flood (including river, coastal and ground water flooding), wind storm, theft, fire, arson and subsidence.

The peril data used in the mapping tool is provided by leading external experts and is overlaid with over 20 years of internal data from across the Royal Bank of Scotland (RBS) group. This is used to validate all the perils information and underwriting guidance held in the system giving underwriters not only a comprehensive understanding of the property’s exposure to risk, but a clear picture of its claims history and the group’s past and current exposure in the local area.

David Cahoon, head of commercial pricing and packages, said, “The mapping tool is helping to facilitate better risk selection and accumulation management, by providing our underwriters with market leading geographical data building on our own extensive and unique data sets. Over the time, we will further enhance our underwriting data by incorporating additional non traditional underwriting information into the system.”

Source: Postonline