Hiscox Harnesses CoreLogic Geocoding Technology to Assess Insurance Risks
RiskMeter provides structure-level location information when assessing a property’s exposure to natural disasters
CoreLogic, a leading global property data and analytics-driven solutions provider, announced that global insurance carrier Hiscox London Market has adopted the company’s PxPoint™ technology delivered via its RiskMeter™ platform as its primary source of geocoding. RiskMeter enables Hiscox to drive further insight from property risk data when underwriting insurance policies using advanced geocoding technology.
Knowing a property’s exact location is crucial to understanding the potential risks of natural disasters such as wildfires, hurricanes, tornadoes and floods. RiskMeter delivers CoreLogic’s PxPoint geocoding technology to pinpoint a property’s location enabling accurate assessment of its level of exposure to these hazards. PxPoint offers geocoding to a building’s footprint level which is an essential level of precision when gauging a property’s likelihood of damage from a natural disaster. PxPoint integrates seamlessly with Hiscox’s existing technology and workflow via high-capacity APIs. These APIs deliver data in real time, which assists in quickly and efficiently determining a property’s risk of disaster-related damages when deciding coverage options and costs.
"We worked closely with Hiscox to deliver PxPoint via our RiskMeter platform, providing a critical level of precision that provides insights into specific peril risk and portfolio-level exposure analytics,” said
“The structural level accuracy of the PxPoint geocoding enables us to confidently assess and price a risk at speed for our underwriting APIs,” commented
About CoreLogic
CoreLogic is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in
CORELOGIC, the CoreLogic logo, RiskMeter, and PxPoint are trademarks of
About the
Hiscox is a global specialist insurer, headquartered in
Our values define our business, with a focus on people, courage, ownership and integrity. We pride ourselves on being true to our word and our award-winning claims service is testament to that. For more information, visit www.hiscoxgroup.com.
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