See the Big Picture with High Resolution Aerial Imagery

Insurers are looking for better ways to manage their risk and their modelling for customers across the insurance policy life cycle. Nearmap gives you the big picture with our high-resolution, proactively captured imagery, allowing you to see clearly properties and structures to make better, more informed decisions. Consider how we help with each phase of policy life cycle to remove uncertainty and provide a clear understanding of current and historical state of a property/area/parcel. Don’t wonder if what you’re seeing is accurate; know with certainty and timestamped aerial content.

Take the Risk out of Risk Modelling and Risk Assessment

Risk Modelling

When it comes to risk modelling, what’s most important is getting the pricing correct to help improve your customer’s experience. You need to be able to provide accurate—and competitive—quotes to ensure your customer base finds your offer to be a good investment.

Using the rich historical imagery and powerful data, you can see what you need to see by quickly comparing and contrasting property information across seasons and identifying key features for creating stronger risk and pricing models. By getting better ground truth up front, you can perform quicker assessments and answer homeowner questions with greater context to improve the buying experience.

When you input better data, you greatly reduce your risk exposure.

Risk Assessment and Underwriting

Before you even write a policy, wouldn’t it be great if you could spread the risk across your book of business? Using rich location data from Nearmap means you can get remote inspections right with our crystal-clear imagery. Pull up a neighborhood and easily locate and identify key property features, use measurement tools to gauge area, height, and width.

Compare current imagery with historical captures—back as far as 2014—to understand if any changes to the property have occurred or if it’s been impacted by weather before, such as flooding, fires, and other natural disasters.

Support your pricing recommendations to customers with timestamped, high-resolution aerial content.

Loss Control and Renewal Inspections

Before a policy is written or renewed, you need to review what’s occurred over the life of the policy and help mitigate loss before a new or revised policy is put forth to your customer. Minimise the expense of in-person inspections by using Nearmap Vertical location content to:

• Understand when new risks arise on policies by reviewing historical and current captures
• Comparing and contrasting changes to a property in question, such as adding features or newly built structures
• Clearly communicating to customers the value of a policy with stunning imagery so there are no surprises during a policy renewal

Stay ahead of risk that can pop up across the policy life cycle.

Claims Management

One of the great stressors across the policy life cycle is dealing with claims management. Customers expect a quicker response when submitting a claim and your response time to their request helps keep you competitive in an already crowded marketplace. From claims processed to cost per claim to the claim settlement time, you need to be on your game to keep costs low and increase efficiency across your workflows.

Nearmap helps you accelerate the speed of claims management with the robust library of true location content that is clear, current, and consistent. Whether you use Nearmap Oblique imagery to virtually “walk” around a property, take a top-down view for area measurements with Nearmap Vertical, or use Nearmap AI to derive important property data insights, Nearmap provides you the toolkit to keep claims management costs low with more efficient processing. Plus, you can arm your field inspectors with mobile-friendly imagery when they need to go inspect a property in person.

Alleviate customers’ anxiety and help support field inspections more appropriately with better, more reliable location intelligence.

Loss Adjustment

It’s no secret that private property and casualty insurers can lose millions every year to insurance fraud. Protecting your company against fraud and helping to minimise loss is extremely critical. You want to be sure real problems and concerns are addressed appropriately without overpaying for repairs.

With easy access to truth on the ground, your desktop reviews improve and accuracy in pricing/quoting increases. And having the ability to review a robust catalogue of historical imagery means bolstering your confidence in pinpointing the date of a claim and validating that request against multiple property captures. Keep time and money on your side by saving in-person inspections and remotely measuring fences, roofs, driveways, and other facades.

Cut down on losses and tighten your review process with high fidelity location content from Nearmap.