In general, perils assessment has been calculated at a postcode-level, which often lacks the granularity needed to capture the full picture of risk at the individual property level. That can lead to inaccurate pricing, underwriting inefficiencies and increased complexity. In addition, the growing impact of climate change introduces new challenges, requiring insurers and brokers to adopt a more dynamic, data-driven approach to risk assessment. They need to proactively manage these risks to remain competitive, maintain profitability, meet regulatory demands and improve customer experience.

To address these challenges, LexisNexis® Geospatial Intelligence was developed to enable you to move beyond postcode-based risk assessment, reducing underwriting friction and enhancing decision-making with address-level data. This suite of solutions from LexisNexis® Risk Solutions integrates and leverages third-party and proprietary datasets, providing coverage for both commercial and residential property risk assessments—including flood, windstorm, subsidence, crime, nature and addressing data.

All those datasets are available to you at point of quote through LexisNexis® Informed Quotes. This single point of access removes the need to engage multiple data suppliers and helps you get a more accurate picture of the environmental risks for the specific property that you want to underwrite, when you need it. Additionally, if you’re looking to enhance risk assessment and pricing accuracy while gaining a full understanding of exposure, LexisNexis® Map View provides an interactive visualisation platform. This helps you identify accumulation hotspots, optimise portfolio risk and standardise underwriting practices by offering real-time insights into policy concentrations, prior claims and peril exposures.