Yet most of the time, underwriters are forced to glean this information by manually gathering and calibrating key inputs, such as policy in-force data and industry-wide peril data from disparate sources.
You can avoid this tedious process by leveraging a single point of access for all key information within your underwriting workflow.
Doing so quickly and easily provides the data and visualization capabilities you need to improve productivity, make smarter decisions and cultivate profitable growth.
Today, commercial property underwriting is a very manual process, with disparate information coming from many different sources. With the vast amounts of data coming across your underwriter's desk, there is no way to fully review all of the information and perform all of the analytics needed to underwrite every business. Oftentimes, an application is declined simply because it falls outside of underwriting guidelines, when in fact it would be within your risk appetite.
Location intelligence solutions from LexisNexis help streamline that process by integrating directly into your workflow. This solution is comprised of loss history indices, location risk factors, policy information and loss history, natural perils and firmographics.
Designed for commercial insurers, you have the information you need to evaluate a risk and determine the appropriate premium, in turn allowing you to grow your book of business with greater confidence and higher efficiency...(watch video for more)