UK: Europa Technologies has customised its precision risk assessment platform, Risk Insight, to create a broker-friendly tool for RSA called GeoRisk Broker. This tool will deliver improved risk scoring and lead to more accurate underwriting for broker driven business.
RSA had already selected Europa Technologies to provide Ordnance Survey data and a number of complementary hosted services. This strong relationship meant that RSA had no hesitation in approaching Europa Technologies to create a broker based solution for them.
It was particularly apparent with the floods of recent years, that the existing risk assessment system for brokers needed a significant upgrade. Previously, RSA had delivered peril scoring and mapping to underwriters through an internally developed system. Brokers however, used a spreadsheet based tool which only supplied risk scores at postcode level.
The intuitive Risk Insight platform already supported popular perils datasets such as the JBA Comprehensive Flood Map and the BGS GeoSure Insurance Product, and critically, had the flexibility to be tailored to RSA’s exact requirements within a challenging timescale.
Warren Vick, Founder & Director of Europa Technologies, said “We are delighted to have deployed GeoRisk Broker for RSA. By using our proven Risk Insight platform as the basis of the service, we have leveraged its strengths and implemented a highly effective solution, on schedule.”
GeoRisk Broker is now being rolled out to RSA’s brokers and has had a very positive reception. It is expected that the application will evolve to meet the growing needs of the organisation.
Finlay Smith, RSA’s UK & International Chief Underwriting Officer, commented, “GeoRisk Broker will ultimately help to improve the profitability of our business.”