The Insurance industry can rely on AND location data to help you to understand your customers, power applications and make better decisions. Adding location data will give you the tools to model different situations or identify hidden problems that might not be easily found to optimize risk analytics and claims management and enable related support services.
Read more about the value of Location Data in Insurance Industry in the new report from the Aite Group location intelligence in insurance.
Zip+4 boundaries for the insurance industry
AND has created Zip+4 boundaries for the insurance industry to perform hyper-local, anonymized actuarial analysis. Value of Zip+4 for the insurance industry
– Perform hyper-local, anonymized actuarial analysis
– Map origination and destination and time-on-site trends for UBI
– Anonymize personally identifiable data, yet retain hyper-local mapping attributes
– Use ZIP+4 to segment mapping data by housing type
Why Zip+4 boundaries and not points?
– A boundary is a fixed area. Therefore, you can check if the location coordinate fits in this area. Answer is Yes or No.
– With a point (centroid) you must search for the closest match. Often you must pick from a few options, and you are not always sure if you pick the correct one. This also has a higher ‘processor’ cost.
Mapping and Navigation data for the insurance industry
AND provides geocoding and reverse geocoding APIs for use in track, trace and recovery systems. We also have a World-class turn-by-turn navigation map of the US and Canada (and Western Europe) that can be used to visualize, plan and deploy services or recovery to the site.
Insurance companies believing they would benefit from access location data should contact AND at firstname.lastname@example.org.