Discover PinPoint
Discover the benefits of PinPoint, a versatile property risk assessment tool which combines geospatial and peril datasets to assess new risk, existing policiesand claims data.
Precision Peril Modelling
Sciemus works in partnership with Ordnance Survey to geocode a property to a precise location and incorporates data from established providers to identify the perils associated with that location.
Reinventing the Wheel
The Risk Wheel alerts users to specific property risk by displaying risk scores for each peril. The Risk Wheel also alerts users to risk aggregation and claims accumulation.
Enrich your Data
Sciemus can precisely geocode your existing policies and claims data to assess an existing book of risk against selected perils, identify aggregation risk, claims hot spots and assist with business development.
Overview
Sciemus has developed PinPoint, an innovative tool for assessing property risk against multiple perils through a single user interface. Sciemus PinPoint integrates multiple datasets into a single analysis and mapping application. X/Y geocoding identifies the precise location of a property enabling accurate perils assessment.
PinPoint results can be visualised using PinPoint mapping tools or output as a report. This combination of mapping, scoring and reporting enables the assessment, reporting and review of individual properties, mid-sized portfolios claims data and entire policy books.
PinPoint was developed in collaboration with the Ecclesiastical Insurance Group, one of the largest British owned insurance companies with gross written premiums of c. £430m.
Ecclesiastical’s requirements were to improve the management of risk at both a portfolio and individual property level, this included to more accurately assess and quantify individual risks by analysing location factors.
Ecclesiastical’s drivers were to improve profitability, the growing sophistication of competitors, the pursuit of competitive advantage and improved analysis to support optimised reinsurance arrangements .
The PinPoint Risk Wheel enables users to analyse multiple data sources simultaneously and identify areas of high, medium and low risk for any property or portfolio of properties.
The Risk Wheel alerts users to properties that are in breach of pre-determined parameters and directs a user to potential hazards that require further investigation.
Technical Features
- Geocoding: Geocoding identifies the precise location of a property enabling accurate assessment against perils and other location based information.
- Peril Exposure: PinPoint returns flood, storm and subsidence scores for individual or portfolios of properties in order to identify and alert a user to high, medium and low risk.
- Risk Aggregation: Risk Aggregation enables clients to measure their exposure in any given area and calculate capital adequacy requirements by identifying the relative proximity of insured properties.
- Claims Assessment: PinPoint supports your claims process by identifying the policy holders in a flood affected area who require your support.
- Scenario Modeling: PinPoint enables scenario planning providing tools to estimate potential losses by identifying at risk properties for a given flood event.