Insurers can use GIS to assess risk underwriting risks

10/12/2011 | Insurance Networking News

GIS technology can be a valuable tool for insurance companies as they assess the potential risk of policies and can assist them in processing claims and assessing an area after a disaster. GIS tools can help insurers verify addresses and determine the insurance status of properties near a prospective client, according to a report from Celent. "For assessment of likely claims, GIS systems offer similar strong business advantage. Plot the area of impact of the riot or flood, and the system is able to sum up all current exposure in that area," said Celent's Catherine Stagg-Macey.

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