What was the business problem that needed to be solved?
RSA had been using property level risk assessment since 2001 with peril scoring and mapping being delivered to underwriters through an internally developed suite of tools. For brokers, risk data was delivered through the supply of a postcode level tool which provided risk scores only. The challenging weather and subsequent floods of the last few years, clearly demonstrated the acute limitations of the postcode-based approach. This provided the motivation to implement a new property level risk assessment tool for brokers which provided them with the same level of detail enjoyed by RSA underwriters. RSA’s key requirements were to deliver and implement the new tool within three months of approval, whilst utilising the services already provided by Europa Technologies and RSA’s internal risk models. The key benefits of this approach were:
- A consistent view of risk across all areas of RSA’s business
- Fewer referrals back to RSA as brokers can access the relevant level of detail
- Improved efficiencies since the postcode tool no longer needs to be maintained
- A much quicker process to provide effective tools to RSA’s brokers
- Minimal maintenance overheads as internal RSA models are utilised
Historically, RSA would have built the application internally – never before had the company deployed an application externally. As a result, the potential issues of security, confidentiality and authentication had to be carefully considered. In particular, it was essential that only authorised users could access the application and that usage could be carefully monitored. It was also important that access could easily be revoked for users who no longer needed it. The overriding issue was one of speed, particularly in the light of the level of flood claims received by January 2016. Consequently, the business was keen to make sure that brokers could start to benefit from the property level tool as soon as possible. With clear financial justification, the requirement was to find a supplier with expertise in this arena, who could implement an effective solution quickly. In the words of Rob Osment, Global GeoRisk Director, RSA: “We needed to find an expert supplier – one we felt comfortable with on a personal level, and who also had the knowhow and we were certain would deliver.”