Our challenge - The geocoding data that the re/insurance industry currently relies upon is insufficient.

This is particularly relevant for high-resolution risks such as flood. If the geocoding or footprint information for a property in a flood-prone area is incorrect by even a few metres, that could materially impact losses for all types of flooding. Extrapolate such inaccuracies up to portfolio level and the volatility and impact on capital is material.

This lack of data quality, accuracy and completeness is amplified by the availability of high-resolution models. Advancements in modelling driven by high-performance computing systems and improved analytical capabilities have limited value without the refined data needed to capitalise on them.

At Insurdata, we have set ourselves a challenge. That is to bring greater clarity
to our clients’ underwriting process and portfolio composition by providing global
accurate geocoding data at the highest resolution.

By having access to highly refined geocoding data at the most relevant point,
re/insurers have increased confidence in modelled loss estimates resulting in
better risk selection and improved portfolio management. This supports better,
more accurately priced products, more resilient balance sheets and ultimately
reduced volatility at both the company and the industry level.