Underwriting is complex. Climate change is not making it easier

Selecting risks is becoming increasingly difficult because as an underwriter you have to consider more numerous and increasingly complex influencing factors in order to remain successful.

The sheer volume of data to consider slows down processes, and there is often a lack of clarity about which data is relevant and which can be ignored. A data-driven risk assessment tool can be instrumental in enhancing human judgement, guaranteeing your long-term success.

Location Risk Intelligence reliably provides you with up-to-the-minute data based on the latest scientific findings, and presents it in a variety of visualisations so that you can clearly interpret even complex risk data, and use it immediately to make far-reaching risk-related decisions.

When technical pricing is used as a benchmark for price suitability, distorted decision parameters such as customer and competitor behaviour can influence the "real" price. Under these circumstances, knowing your real risk exposure is critical to making profitable pricing decisions in the future, too.

Location Risk Intelligence provides you with powerful tools based on scientific findings to analyse physical risks caused by natural hazards and climate change, and to consider their financial impact.

This enables you to offer your clients attractive offers despite the increasing risks of natural disasters, while at the same time taking into account the consequences of climate change. A competitive advantage you should not miss out on.

Particularly in large portfolios with thousands of assets, the riskiest ones can only be identified with the greatest meticulousness and corresponding effort. And due to climate change, risks that were previously classified as safe can often change within very short periods of time.

However, using the latest risk models and software tools, such as those included in Location Risk Intelligence editions, risks can be identified much earlier. Qualitative and quantitative predictions can then be made about the risk exposure of individual assets or entire portfolios with up to 5 million locations, enabling you to tailor your exposure to your risk appetite.

Capacity optimisation is another essential factor that plays a key role in underwriting and determines your success. 

You can ensure that the sum of your risks is in line with your risk strategy by using the tools of Location Risk Intelligence to analyse your portfolios against the latest and most scientifically sound climate risk data. This enables you to identify high-risk exposures and replace them quickly and easily where necessary. 

In this way, you ensure the success of your company and remain as competitive as possible in a rapidly changing environment.

When determining your coverage, it is important on the one hand for you to offer a broad spectrum to differentiate yourself from your competitors. On the other hand, however, you need to avoid over-accomodation as not to impair your performance.

By integrating scientifically sound natural disaster and climate risk data you can make your product range much more precisely focussed, and thus stay ahead of the competition.

Location Risk Intelligence with its analysis and evaluation tools offers you exactly this possibility. By identifying climate risks for individual physical addresses as well as for entire portfolios, classified and weighted according to a wide range of hazard scores, and interpreting them quickly and easily using the integrated data visualisation, you can present your clients with attractive offers that also take into account the effects of climate change.

Benefit from one of the world's leading providers of climate risk data.