The Perils Insight© product suite is a set of innovative, new computer data models that predict the relative risk and variation of theft, subsidence, flooding, storm, arson, accidental fires and extreme cold weather across the UK. The models have been constructed separately for residential and commercial property and are based on extensive research using the latest available information. The models have been built from high resolution spatial and demographic data and have been calibrated using sophisticated mathematical techniques to produce estimates at postcode unit level.

The Perils Insight© models have been validated by a number of insurers against recent claims information and these have shown a high degree of discrimination between high and low risk areas. These tests have indicated that the Business Insight models are currently unrivalled in the market and are powerful probabilistic tools giving an invaluable perspective into the distribution of risk across your book of business. They are very easy to use and can be supplied in a number of formats to ensure that they fit seamlessly into your existing systems. You can quickly discover how your rates compare in the low and high risk areas and where you need to fine tune your rating areas to ensure you don’t get selected against by competitors armed with more accurate risk information.

The Business Insight team is focused on the insurance market and we are constantly looking to innovate, fine tune and improve our product set as new emerging sources of data and technology becomes available. Within the team we have the industry knowledge, experience and understanding of user needs to ensure that clients gain maximum value from investing in our Perils Insight© product. The highly competitive annual licences include annual updates, training and technical support offering unbeatable value. Please call our sales team and arrange for a presentation to find out how we can add value to your business.

Key Benefits

• Gain a deeper understanding of your risk exposure for each of the main insured perils of Theft, Subsidence, Flooding, Storm, Arson, Accidental Fires and Extreme Cold Weather 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 and optimise your profitability;
• More precise risk assessment feeding through into bottom line benefit;
• More accurate underwriting and risk selection;