Assessing Insurance Claims Risk from Cyclones
- Arpit Shah
- Jun 13, 2020
- 2 min read
Updated: Dec 4
In my recent posts, I have demonstrated how Mapping Technology can be used for Logistics Planning and for Shortlisting Suitable Locations. In this post, I would like to add another key workflow to that list—how Property Insurers can assess Environmental Risk across their portfolio. Rather than diving deep into the theory of Risk Management, let me share the context behind the short 2-minute demonstration linked below.
A Property Insurer wants to estimate its potential Claims Liability arising from properties insured in the state of Florida, USA. Much like West Bengal and Odisha in India, Florida is frequently struck by tropical cyclones—known there as Hurricanes. These storms often cause severe property damage. Therefore, it would be beneficial for the insurer to identify high-risk customer locations and adjust premiums accordingly.
Here's how Mapping Technology assists in achieving this objective:
A recent, real-world example highlights the value of Mapping Technology in Risk Management. The Bengaluru Smart City Authority used GIS during the pandemic to identify, map, and segregate containment zones, helping protect residents and manage the spread of the virus-
Isn't this useful?
A Geographic Information System (GIS) can store, analyse, and visualise location-based datasets to generate meaningful insights for a wide range of users:
Location Intelligence for Risk Management is invaluable—and very likely relevant to your industry as well.
A Geographic Information System can store, analyze & visualize Location Datasets and generate meaningful insights for the user. Businesses can track their Assets, Law Enforcement agencies can monitor Crime, and Governments can assess Risk arising out of political uncertainties. Location Intelligence for Risk Management purposes is invaluable, potentially even to your organization.
ABOUT US - OPERATIONS MAPPING SOLUTIONS FOR ORGANIZATIONS
Intelloc Mapping Services, Kolkata | Mapmyops.com offers a suite of Mapping and Analytics solutions that seamlessly integrate with Operations Planning, Design, and Audit workflows. Our capabilities include — but are not limited to — Drone Services, Location Analytics & GIS Applications, Satellite Imagery Analytics, Supply Chain Network Design, Subsurface Mapping and Wastewater Treatment. Projects are executed pan-India, delivering actionable insights and operational efficiency across sectors.
My firm's services can be split into two categories - Geographic Mapping and Operations Mapping. Our range of offerings are listed in the infographic below-
A majority of our Mapping for Operations-themed workflows (50+) can be accessed from this website's landing page. We respond well to documented queries/requirements. Demonstrations/PoC can be facilitated, on a paid-basis. Looking forward to being of service.
Regards,
