Neighbourhood crime profiles no risky business for insurers

March 21, 2014 -- Exclusive Australian neighbourhood profiles highlighting crime hotspots could transform the way insurers calculate premiums, according to a leading data expert.

New geo-demographic data from leading digital mapping specialist MapData Services (MDS) contains up-to-date community and crime insights, to create a clear picture of an area’s dark side.

MDS General Manager Cassandra Barker said the unique crime data collections would equip insurers with unprecedented access to information about theft, break-ins and safety ratings in communities across the country.

“The geo-demographic datasets provide both insurers and policy holders with a compelling insight into where criminals are most likely to operate,” Ms Barker said.

“The data can be used to gauge the risk of vehicles being stolen or households getting burgled – and even indicate how safe residents may feel in a particular area.

“Information regarding daytime population movements can also be accessed, which reveals not only the areas where people spend time during office hours, but also those areas which are desolate during the day – which is of significant value when considering the likelihood of crime.

“Insurers can even use the data to pinpoint where they have too much exposure by comparing the areas rife with criminal activity with the location of their policy holders.”

The geo-demographic dataset includes risk scores of crimes likely to occur in a neighbourhood – rated on a scale of one to 20 – as well as perceptions of social disorder.

Ms Barker said insurers can leverage this detailed insight to deliver better priced policies.

“Australian insurers have never before had access to such a comprehensive source of information on a location’s susceptibility to crime,” Ms Barker said. 

“These datasets can be used to create interactive, accurate crime maps – which means insurers can quickly and easily see the exact level of risk a policy holder may face.

“As such, policy holders in areas of low risk may see a reduction in premiums, and those in higher risk areas can be more informed of the threats facing their property and secure better cover.”




Review Article Be the first to review this article


Featured Video
Jobs
Mechanical Engineer for Allen & Shariff Corporation at Pittsburgh, Pennsylvania
Mid-Level Mechanical Engineer for Kiewit at lenexa, Kansas
Upcoming Events
International Conference on Geomatics, Geomapplica 2018 at Syros - Mykonos islands Greece - Jun 25 - 29, 2018
18 International Multidisciplinary Scientific GeoConference SGEM 2018 at Paradise Blue 5 *****, Congress Center Albena Resort & Spa Bulgaria - Jun 30 - 9, 2018
2018 Esri User Conference at San Diego Convention Center San Diego CA - Jul 9 - 13, 2018
SUE Association at Capitol Skyline Hotel 10 “I” Eye Street, SW Washington, DC - Jul 26, 2018
LaserTech
Teledyne Optech
Bentley: -YII 2018 Awards
Interdrone 2018



Internet Business Systems © 2018 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise