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Leanne – Risk Assessment Analyst

Hi, my name’s Leanne and I work as a risk assessment analyst for a large insurance firm. You’re probably thinking, what interest does an insurer have in spatial data? Well, like any firm we’re interested in better serving our customers. We want to tailor insurance premiums, but to do this we need detailed information about the storm, flood and fire risks of an insured property. Our actuaries use property attributes to calculate individual property risk ratings for our risk models. This ensures customers get the best value premium. Our firm is also able to manage its risk. With rich information about our insured properties, we can obtain more appropriate re-insurance.

Our IT department connected me with GEOCIRRUS. This platform gives our team access to up-to-date, high-resolution terrain data across Australia and New Zealand, as well as specialised spatial mapping and measurement tools. With the data and specialised tools, we can assess the risk of trees falling on a property in a storm, if the property is in a flood prone area, or even at risk of bushfire.

GEOCIRRUS is web browser-based, so we didn’t need to purchase special GIS software packages. We simply stream terrain data-as-a-service. This saves us the hassle of storing and dealing with large datasets.

While integrating GIS information into our risk models helps us better understand our customers, investing in our own GIS team isn’t something IT is prepared to do.

GEOCIRRUS Origin, which is GIS data-as-a-service, allows us to scale our use to match demand when we run promotions, or when a storm creates lots of claims.

GEOCIRRUS Edge provides custom tools for property assessment and measurement, which we can tailor to support our specialised insurance products with the help of the GEOCIRRUS Link team.

We have also used GEOCIRRUS Link. The GEOCIRRUS team developed custom risk management modules that integrate with our property risk models. When we need to add new features, I raise a ticket and the Link team are soon in touch. After briefing their solution architect, I’m supplied with the results I need.

Through GEOCIRRUS, we get the data and analysis our actuarial teams need, without the expense and complication of storing GIS data or hiring a GIS team.