Europa Technologies has today announced the launch of Risk Insight, a ground-breaking new risk assessment platform for the insurance industry. Risk Insight offers a powerful yet intuitive means of assessing risk across a portfolio, providing underwriters, brokers and senior managers with a clear picture and understanding of individual risks and aggregated exposure. Implemented as SaaS (Software as a Service), Risk Insight can be integrated with existing systems to provide a rich, seamless user experience.
Importantly, Risk Insight enables high-precision, address-level risk analysis in real-time using perils data from providers such as the Environment Agency, British Geological Survey, the Met Office and JBA Risk Management. Definitive address data and base maps from Ordnance Survey, managed by Europa Technologies, are used to ensure decisions are made using the most up-to-date mapping available. Alternative data sources are available for countries outside of Great Britain.
Risk Insight will debut at a free conference for insurance risk professionals in London titled ‘Flood Risk – Improved information for planning, managing and responding’. Event supporters include the ABI and the National Flood Forum. The event also sees the launch of the Environment Agency’s new flood map, designed to help predict future flood events. The map is optionally available in the Risk Insight platform.
Europa Technologies has a proven track record in the insurance industry, having supplied digital map data and hosted services to insurers and reinsurers for many years. This includes the Global CRESTA Plus product containing CRESTA zones and political map layers which has recently been updated to the very latest standard. The launch of Risk Insight signals a greater focus on insurance at a time when insurance companies are looking to improve the accuracy of their risk assessment processes, particularly around flood prediction with the Flood Re scheme looming on the horizon.
Duncan Hill, Business Development Manager of Europa Technologies, comments: “We have seen a growth in the volume of enquiries from insurance companies in the last few years and we are delighted to launch Risk Insight in response to that. It brings together our existing expertise to provide a comprehensive solution to the challenge of calculating risk in an accurate and timely manner. We look forward to helping our clients conquer this challenge in the future.”
For more information, visit www.europa.uk.com.
About Europa Technologies
Europa Technologies is an award-winning specialist in digital maps and associated services for a wide variety of market sectors and applications. Our resources allow organisations with international interests to better understand their customers, assets and markets, in a geographic context, to gain a competitive or strategic advantage. Mapping products and services from Europa Technologies are used by many Fortune Global 500 companies, governments and missions of the United Nations. The company has global licence agreements with a number of leading Internet-based service providers including Google. Through deployment via Google Earth and Google Maps alone, our world data products have been seen by over 700 million people, approximately 1 in 10 of the world’s entire population