Business Insight have also developed a set of perils models specifically for Commercial Property Insurance.
The Commercial Property Perils Insight© suite is an innovative, new set of computer data models that predict the relative risk across the UK for the main insured perils of Fire, Theft, Flood, Storm damage, and Subsidence.
The models are based on extensive research into commercial property risk using the latest available information and take account of the changing economic landscape of the UK. The models have been built from high resolution data relevant to each peril as well as detailed vulnerability information relating to the commercial property stock.
These have been calibrated using sophisticated mathematical techniques to produce probabilistic risk estimates at postcode unit level. The Commercial Property Perils Insight models have been tested against external validation samples and have shown a high degree of discrimination between high and low risk areas.
The Business Insight team is focused on the insurance market with the industry knowledge, experience and understanding of user needs to ensure that clients gain maximum value from investing in the Commercial Perils Insight suite of models.
The highly competitive annual licences include annual updates, training and technical support offering unbeatable value. Please call our sales team to find out how we can add value to your business.
Key Benefits
- Gain a deeper understanding of the risk to commercial property in the UK across your existing book of business;
- Grade postcodes easily into relative risk bands or RAG (Red, Amber, Green) codes to help tune the accuracy of your rating areas or to drive underwriting rules;
- Gain insight into postcode areas where you have no experience data;
- Discover where you need to modify your rates to improve your loss ratio;
- More precise risk assessment feeding through into bottom line benefit;
- More accurate underwriting and risk selection;
- Discover where you need to modify your rates to optimise your profitability.