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Leading Fortune 500 Property Casualty Insurer: Our client is one of the nation’s largest property casualty companies with multiple product lines across the personal, business, financial and international insurance segments.
HARKEN DATA was contracted by the Insurer to rationalize the company’s portfolio of numerous Geospatial Business Intelligence (GBI) technologies. The company wanted to better understand its aggregate exposure at the corporate level and strengthen its GBI core competencies. They chose HARKEN DATA due to its deep BI expertise and high focus and experience with combining traditional Bi with Geospatial BI technology and processes.
For our client’s Underwriting, Actuarial analysis and Catastrophe Management teams, it was no longer good enough to know just the proximity of an insured to both natural and manmade hazards. It is has become a competitive imperative to know the degree to which, down to meters, an insured is within proximity to hazards. This new business imperative directly affects the pricing of insurance products and consequently the competitive position insurance companies.
The HARKEN DATA Team started with conducting an assessment of GBI technologies and practices across a variety of insurance business units and identified the common practices and techniques across the board. HARKEN DATA then proceeded to evaluate address cleansing, geo-coding and visualization/mapping tools against agreed upon standards. Additionally, HARKEN DATA worked with the client to develop consensus for integration architecture and worked with its executive team to create iterative implementation to maximize and accelerate ROI on core competencies.