Insurers can gain ready online access to the risk of crime by postcode under a new perils model launched by emapsite.
The leading data services provider is adding official police updates of property-related crime to its portfolio of risk data, deliverable via the emapsite Data as a Service (DaaS) on-demand location content platform or as flat (.csv) files.
The crime dataset incorporates a series of Home Office categories populated monthly by 43 police forces across England, Wales and Northern Ireland. They include burglary, arson, criminal damage, vandalism and theft.
emapsite’s model enables a normalised risk score per postcode which is designed to improve risk analysis by insurers, loss adjusters and claims managers.
Simon Goodwin, emapsite’s Business Development Manager for Banking, Finance and Insurance, said the perils data can be supplied to users to reflect the specific type of crime or crimes they are interested in.
Simon said: “By adding value and reflecting user need in this way, we can help our customers understand and foresee trends and indicators at full postcode unit level.
“The official data is analysed and redistributed, using sophisticated modelling techniques, as IT system-ready postcode tables.
“These offer a normalised risk score per postcode unit, enabling insurers to enhance their existing view of high and low risk areas and adjust their underwriting and claims policies accordingly.
“It also provides insight into postcodes where insurers have little or no previous claims data, allowing them to refine their underwriting in all areas.
“Trending figures can also be supplied, indicating whether crime rates per postcode are falling or on the rise.”
The crime dataset is the latest in an expanding range of perils data that emapsite is adding to its on-demand platform from licensed, open and proprietary sources.
Emapsite first began delivering web mapping and address search web services in 2006. Since then, strong demand for cost-effective, place-based solutions has helped drive continual enrichments including improved interrogation and visualisation for risk assessment.
Simon added: “Our on-demand platform enhancements mean more insurers can realise business value by no longer having to manage their own potentially costly IT deployments, training and maintenance. Our data services are ideal for supporting risk analysis, selection and pricing, accumulations, visualisation and dashboards.”
For more information on emapsite services for the insurance sector, visit www.emapsite.com.