NIG launches mapping tool

The insurer said that the software will sit on the desktops of the insurer’s underwriters giving them an instant and unique picture of each risk, at an individual address level.

The bespoke platform, developed in conjunction with geographic information system expert ESRI UK, provides underwriters with market leading geographical data on the risks of flood (including river, coastal and ground water flooding), wind storm, theft, fire, arson and subsidence.

The peril data used in the mapping tool is provided by leading external experts, and is overlaid with over 20 years of internal data from across the RBS group. This is used to validate all the perils information and underwriting guidance held in the system giving underwriters not only a comprehensive understanding of the property’s exposure to risk, but a clear picture of its claims history and the group’s past and current exposure in the local area.

Commenting on the multi-million pound project David Cahoon, head of commercial pricing and packages, said, “This is a major step forward for NIG using the latest technology to aid underwriting decisions. The mapping tool is helping to facilitate better risk selection and accumulation management, by providing our underwriters with market leading geographical data building on our own extensive and unique data sets.

“The mapping tool gives us the ability to assess individual risks, including flood, fire and theft, much more effectively, so we can now price these risks more accurately, which help us to deliver highly competitive prices to targeted commercial businesses. Over time, we will further enhance our underwriting data by incorporating additional non traditional underwriting information into the system."