Rooftop geocoding - A crucial insurance risk analytics tool
The client
The challenge: Accurate rooftop geocoding in high-risk areas
Identifying and analyzing high-risk areas with exactness is one example of how the client serves its property insurance customers. How close is the primary structure to vegetation, to a floodplain, or to a coastline, and what types of buildings are on the property? In-person inspections can find answers to these questions, but at significant expense of time and money. The client sought to provide detailed insurance property risk analysis without sending a person to the site.
The solution: Smarty address validation and geocoding APIs
The results: Confident insurance geocoding results
The accurate rooftop geocoding delivered by Smarty allows the client to pinpoint property insurance risk with exactness. For example, in a fire risk analysis, rooftop geocoding helps the client pinpoint a structure's proximity to vegetation that puts an insured customer at high fire risk, so the client can tell its insurance customer, “This property is high risk because it has that tree next to the building."
"Geocoding accuracy is key for us: a key part of our workflow and the basis of what we do,” said the lead scientist. “If we get that wrong, everything else we do is useless.” Because Smarty validates addresses and provides rooftop geocodes with such speed and accuracy, the client has a high level of confidence in each analysis it sends its insurance customers.
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