Summer is typically known for relaxing on vacation – but it’s also a great time to gain a competitive advantage through location intelligence and data insights.
To gain that competitive edge, your summer strategic plan may consist of three (3) simple steps:
- Look for easy access to data;
- Ensure comprehensive data selection;
- Better understand your risk;
Look for easy access to data
When looking to access risk related data:
- Confirm if the data is available via web service to allow you to integrate information into your current platform such as the Purview AVM data and perils related data
- Understand how to obtain the highest match rate between your database and data services to avoid ambiguous addressing through the use of a unique address identifier (UAID®)
A recent collaborative project with a shared client resulted in a 30% increase to the match rate to over 80%
Lenders using DMTI Spatial’s™ Location Hub® platform can search the national Purview web service using the UAID which is assigned to every address for Canada with roof-top precision.
Ensure comprehensive data selection
Teranet has partnered together with DMTI Spatial to provide complimentary capabilities to shared clients to provide them with a more comprehensive view of their data .
With over 15M addresses in Canada, having access to the most comprehensive risk-based information at the property level allows insurance and finance companies to generate new insights.
Better understand your risk
With this wealth of location-based information businesses can benefit in the following ways:
- Understand the risks associated with specific geographical areas and leverage that knowledge to fine-tune pricing
- Link disparate information for real-time decision making
- Enhance portfolio analysis across the entire book of business
Take advantage of the down-time that summer offers. Evaluate your current systems and workflows and explore solutions that provide comprehensive information to help you hit the ground running in the fall.