MapInfo: Insurance Solutions

MapInfo: Insurance Solutions
Innovative location-based analysis
solutions for Insurance Carriers

Innovative risk and claims
management solutions
In today’s competitive Insurance market, underwriters must effectively identify
key factors affecting risk, while claims managers need to reduce the overall
cost of processing claims. Carriers also need to more effectively target
specific markets to keep a competitive advantage. Achieving sustainable
profitability is key.
MapInfo’s insurance solutions enable carriers to spatially visualize and analyze
their risk exposure in both personal and commercial lines across their entire
product portfolio, and efficiently share this information with key stakeholders
within their organization.
With Insurers facing shortfalls in premium revenues compared to the cost of
settlement, the industry needs to identify and correct areas within the claims
management process that excessively contribute to the cost of the claim.
The answer? Integrate MapInfo solutions for powerful results.
INNOVATIVE SOLUTIONS
The power of location analysis
applied to risk management
Some potential benefits to insurers:
· Bring a critical added dimension to already existing data
· Geocoding of policies and assignment of rating/coding attributes (municipality
codes, fire protection classes, rating territories, etc) to ensure proper premiums and
minimize regulatory concerns
· Visualize competitive position in every market segment
· Analyze market concentration and rate adequacy within market segments, targeting
areas with most opportunity
· Analysis of loss patterns including catastrophe model output and comparison of
adjacent areas to determine new rating territories
· Precisely set premiums based on accurate rating and pricing
· Profile policyholders to determine “who” the best customers are, “what” products
and services have the strongest appeal, and “where” are the highest concentration
of households most likely to purchase
· Identity best product mix and cross-sell opportunities for current policyholders
· Accurately report on the accumulation of risks by any geographic area
· Analyze market potential to determine “wallet share” versus competitors
· Determine potential “lifetime” value of customer
· Implement enhanced contractor selection and referral processes within the call
center to increase efficiency and minimize cost of claims
· Increase the operational efficiency of field-based loss adjusters by optimizing their
daily routing
· Predict product potential and customer behavior through the use of demographic
and lifestyle segmentation
· Create an optimized network of service providers

Powerful solutions for insurers
Underwriting
Claims Management
Risk Management
MapInfo’s RiskReview TM solution provides insurers
and reinsurers with an easy way to visualize and
analyze residential and commercial risk exposure to
determine the effects of their proximity to potential
risk sites or events, such as flood plains, hazardous
waste sites and earthquake fault lines.
RiskReview enables insurance carriers to efficiently
map their risk exposure across their product portfolio
and share this information within their organization
instantly. By integrating this and other MapInfo
solutions into the existing infrastructure of legacy
systems, databases and business processes, insurers
can accurately report on the accumulation of
risks by geographic area; minimize overexposure
within their portfolio by precisely pricing and rating
premiums; and calculate the Probable Maximum
Loss (PML) in a specified area based upon a potential
peril.
Global Risk Management
On a global scale, the requirement of specialist
commercial insurers to visualize and analyze the
accumulation and location of risk within their specific
portfolios is critical. MapInfo’s insurance solutions
can geocode worldwide locations, enabling
maps and reports detailing the accumulation and
proximity of risk and benefits. This enables underwriters
to quickly decide if a new risk can be
accepted into the portfolio without exceeding the
threshold for reinsurance within a specific geographic
area.
Policy and Claims Analysis
As part of territory optimization, analysis is critical to
support planning decisions. Specifically, the ability
to query policy, quotation and claims records to
identify the location of areas of demand with customers
and efficiently manage service networks.
Authorized Service Networks:
Territory Planning and Optimization
Several carriers are creating and maintaining a network
of authorized repair facilities not only to control
costs, but also to ensure superior customer
satisfaction. By directing customers to the appropriate
adjustor and repair facilities, claims processing
time is reduced and customers are better
served. In addition, carriers are also utilizing these
solutions to better analyze and plan their agent
territories.
Field-Based Loss Adjuster
The role of the loss adjuster is to assess the
extent of the damage and gauge the accuracy of a
contractor's estimate. This area requires a high
level of operational efficiency in order to maximize
the number of completed site visits per day. The
loss adjuster can download a daily job schedule to
a PDA, with optimal routing and driving directions.
Catastrophe Management
Utilize the power of location intelligence to visualize
and analyze catastrophic situations, both real
and as part of “what-if” scenarios. Identify critical
areas and determine options, using a “dashboard”
showing risk exposure across product lines. View
data from multiple data sources in a single, integrated
view, with the added dimension of location.
MapInfo’s standards-based Envinsa platform
enables enterprise-wide deployment of these key
functionalities in a shorter timeframe, allowing
better decision-making.

RISK ANALYSIS
MARKETING/
CUSTOMER SERVICE
CATASTROPHE
MANAGEMENT
CLAIMS
MANAGEMENT
AGENCY
MANAGEMENT
· Accurately locate risks and
analyse their exposure to risk
events (e.g. flood plains)
· Identify accumulation and proximity
issues that exceed maximum
limits and may require reinsurance,
and demonstrate to reinsurers
that exposures are being managed
· Predict Probable Maximum
Loss (PML) based on
geographic constraints
· Rating, pricing, and renewals
· Reinsurance
· Address validation and international
geocoding
· Customer/market analysis
· Product/service analysis
· Targeted communications
· Profitability analysis
· Churn/retention analysis
· Determine lifetime value of
customers
· Distinguish relationships between
existing locations, potential locations,
competitors, and customers
· What-If scenarios
· Easily visualize areas affected by
a catastrophe, including exposures
insured there, estimate the number
of potential claims and adjusters
needed, and optimize response
· Identify potential overexposures
to risks at any time, anywhere
· Provide a risk “dashboard” showing
exposure across product lines
· View data from multiple datasets
in one integrated view
· Bring the added dimension of
location to existing data
· Visualize and analyze risk situation
and options
· Analyze where new claims service
centers should be located, according
to policyholder locations and
reported claim trends
· Lifestyle and demographic profile
of claimants and policyholders
· Drivetime analysis
· Determine proximity to services,
such as medical facilities, auto
glass repair centers, etc.
· Identify proximity to services
· Integrate claims operations
· Track incidents/see patterns
· Territory/route optimization
· Assist in identifying fraudulent
claims
· Predict product potential in target
areas
· Lifestyle and demographic profile
of optimal future policyholders
· Sales territory alignment
· Optimize marketing/advertising
efficiency
powered by
Envinsa provides a single, consistent location infrastructure
that enables fast integration of location capabilities
across any organization. Using the Java 2 Platform,
capabilities in neatly packaged APIs, greatly reducing
development cycles. Envinsa is a suite of location capabilities
that enable organizations to integrate location
into existing applications as well as to create and deliver
new location-enabled applications made-to-order for a
specific business unit.
similar requirements of location. Another significant factor
is MapInfo’s experience building the robust server products
whose components power Envinsa services. Finally,
Envinsa delivers its capabilities in a robust, highly scalable
platform. From the ground up, it is standards-based
and designed to be integrated into, and managed inside,
a standard IT environment.
Envinsa benefits from MapInfo’s significant experience in
building custom solutions for companies that require
vast, multinational IT resources.
Envinsa was created with experience gained around the
world, through associations with thousands of different
companies, in vastly different industries but with distinctly
Envinsa is flexible enough to support hundreds of locationenhanced
applications and concise enough to provide its

85081 04/04