Risk Insight improves precision underwriting
for RSA and its brokers
PRESS RELEASE – 6 March 2017
Europa Technologies has customised its precision risk assessment platform, Risk Insight, to create a broker-friendly tool for RSA called GeoRisk Broker. This tool will deliver improved risk scoring and lead to more accurate underwriting for broker driven business.
RSA had already selected Europa Technologies to provide Ordnance Survey data and a number of complementary hosted services. This strong relationship meant that RSA had no hesitation in approaching Europa Technologies to create a broker based solution for them. It was particularly apparent with the floods of recent years, that the existing risk assessment system for brokers needed a significant upgrade.
Previously, RSA had delivered peril scoring and mapping to underwriters through an internally developed system. Brokers however, used a spreadsheet based tool which only supplied risk scores at postcode level.
The intuitive Risk Insight platform already supported popular perils data sets such as the JBA Comprehensive Flood Map and the BGS GeoSure Insurance Product, and critically, had the flexibility to be tailored to RSA’s exact requirements within a challenging timescale.
Warren Vick, Founder & Director of Europa Technologies, said “We are delighted to have deployed GeoRisk Broker for RSA. By using our proven Risk Insight platform as the basis of the service, we have leveraged its strengths and implemented a highly effective solution, on schedule.”
GeoRisk Broker is now being rolled out to RSA’s brokers and has had a very positive reception. It is expected that the application will evolve to meet the growing needs of the organisation.
Finlay Smith, RSA’s UK & International Chief Underwriting Officer, commented, “GeoRisk Broker will ultimately help to improve the profitability of our business.”
About Europa Technologies
Europa Technologies is an award-winning specialist in geospatial intelligence solutions for a wide variety of market sectors. Our capabilities allow organisations with international interests to better understand their customers, assets and markets, in a geographic context, thereby gaining a competitive or strategic advantage. Digital map products and services from Europa Technologies are used by many Fortune Global 500 companies, governments and missions of the United Nations. The company has global licence agreements with several leading Internet-based service providers including Google. Through deployment via Google Earth and Google Maps alone, our world data products have been seen by over one billion people, approximately 1 in 7 of the world’s entire population. The company’s identity is captured in its mantra: “Success, located”.