Assessing Insurance Claims Risk from Cyclones
- Arpit Shah
- Jun 13, 2020
- 2 min read
Updated: Jul 13
In my recent posts, I have demonstrated how deploying Mapping Technology can be useful for Logistics Planning and for Shortlisting Suitable Locations purposes. In this post, I will add another workflow to the list - how Property Insurers can assess the Environmental Risk affecting their portfolio. Without delving into the theory of Risk Management, let me share the context of the 2-minute demonstration enclosed below.
A Property Insurer wishes to assess its Claims liability from its customer portfolio in the state of Florida in USA. Just as West Bengal and Orissa in India are prone to Cyclones, Florida is also routinely ravaged by the same, albeit known by a different name - Hurricanes. Since such tropical storms inflict significant damage to property, it would be beneficial for the insurer to raise the insurance premiums for those customers whose property insured has the highest risk of being damaged by Hurricanes in the future.
See how Mapping Technology assists in this addressing this objective-
Sharing a recent, real-life example of the utility of Mapping Technology for Risk Management purposes - Bengaluru Smart City Authority in India preempting the risk from the pandemic for its residents and deployed Geographic Information System (GIS) it to segregate Coronavirus containment centres in the city-
Isn't this useful?
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 FOR ORGANIZATIONS
Intelloc Mapping Services, Kolkata | Mapmyops.com offers Mapping services that can be integrated with Operations Planning, Design and Audit workflows. These include but are not limited to Drone-based Industrial Applications, Subsurface Mapping, Location Analytics, Supply Chain Design, Remote Sensing and Wastewater Treatment. The services can be rendered pan-India and will aid your organization to meet its objectives pertaining to Operational Excellence, Sustainability and Growth.
Broadly, the firm's area of expertise can be split into two categories - Geographic Mapping and Operations Mapping. The infographic below highlights our capabilities-
Our Mapping for Operations-themed workflow demonstrations can be accessed from the firm's Website/YouTube Channel. Happy to address queries and respond to documented requirements. Demonstration/PoC can be facilitated on a paid-basis. Looking forward to being of service.
Regards,
