Seeing is Believing -- Risk Visualization and Aggregation


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Experts may disagree on the root causes of catastophes, but it is clear that both population growth and demographic shifts have been major factors behind increased losses from extreme weather conditions. Location intelligence technology -- including mapping, visualization and analytical capabilities -- is helping carriers get a better understanding of risk exposure in their book of business.

From risk exposure to CAT modeling to claims management, Pitney Bowes' superior location intelligence capabilities are helping insurers "see" risk in a whole new way. By turning business insight into measureable action, insurers improve competitiveness and profitability, while reducing costs.

View the webinar to:
Understand risk exposure in your book of business. Improve policy pricing and underwriting discipline. Improve claims response to FNOL. Identify patterns of fraud. Enhance customer segmentation and market penetration.

Find out why 25 out of the top 25 P&C carriers use Pitney Bowes location intelligence technology.

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Seeing is Believing -- Risk Visualization and Aggregation

  1. 1. Seeing is Believing: Risk Visualization & Aggregation August 7, 2014
  2. 2. August 25, 2014PBI Internal use only 2 Today’s Speakers Bill Sinn Global Marketing Director Insurance & Healthcare Practice Pitney Bowes Software Frederick Lamont Norman Principal Solution Engineer Pitney Bowes Software
  3. 3. August 25, 2014PBI Internal use only 3 Agenda •Who is Pitney Bowes? •The Power of Location Intelligence •LI Building Blocks •Spectrum Spatial Demo •Case Studies
  4. 4. August 25, 2014PBI Internal use only 4 You know Pitney Bowes as a global leader in mail
  5. 5. August 25, 2014PBI Internal use only 5 •Pitney Bowes, a global technology company, powers billions of physical and digital transactions in the connected and borderless world of commerce. •We enable data-driven marketing, parcel shipping & logistics, and statements, invoices & payments through our data management & engagement software, location intelligence offerings, and shipping & mailing solutions. •Helping clients achieve their greatest commerce potential are more than 16,000passionate employees around the world, our relentless pursuit of innovation with over 2,300 active patents, and our focus on clients, who are at the center of all that we do – from small businesses to 90% of the Fortune 500. But we are so much more than that…
  6. 6. Our Core Capabilities Data Integrating & enriching individual customer data Analytics Understanding & predicting customer behavior Communications Managing & connecting cross-channel customer dialogue Location Intelligence Mapping, visualization and analytic capabilities to drive greater insight
  7. 7. August 25, 2014PBI Internal use only 7 Pitney Bowes: Helping Insurers around the Globe •25 of the top 25 US P&C carriers use Pitney Bowes •22 out of the top 25 US L&H carriers use Pitney Bowes •Over 300 Global insurers use Pitney Bowes •190 insurance companies use Pitney Bowes in North America alone
  8. 8. Life & Annuities P&C Snapshot of our Customers Healthcare
  9. 9. Our Partners Core Systems Partners -Adaptik -StoneRiver -MajescoMastek Systems Integrators -IBM -Tata -Accenture -CSC -CGI Legacy Migration -DocuConsulting
  10. 10. Maximizing Lifetime Customer Value ACQUIRE CONVERT GROW SERVE RETAIN •Acquire profitable customers •Make customers profitable faster •Reduce cost to serve and drive margin •Cross-sell/up-sell and drive revenue •Reduce number of unprofitable customers •Focus on retention, loyalty and engagement to drive profitability Optimized Customer Lifecycle Typical Customer Lifecycle
  11. 11. The Power of Location Intelligence
  12. 12. August 25, 2014 PBI Internal use only 12 PB: Enabling Your Data Geographically Spatial Analysis •Mapping customers against company network •Mapping competitors against company network •Analyze customer segmentation by location • Analytics • Risk Analysis • Vendor Channeling • Who are my best customers • Analyze service coverage        
  13. 13. August 25, 2014PBI Internal use only 13 Exponential Growth of LI Addresses Geocodes Reverse Geocodes Maps Spatial Analysis Actuaries Cat Management Underwriting Distribution Claims Executive Risk Management Risk Assessment Distribution Management Policyholder Service Campaign Management Targeting/Segmentation Routing Fraud DetectionPrevention MORE GIS DATA MORE GIS USERS MORE GIS APPLICATIONS
  14. 14. August 25, 2014PBI Internal use only 15 A Singular View ofLocation Intelligence PBS Geo-ID Location Intelligence Hazard Data Construction Data Business Data DemographicData Internal Data External Data Spatial Analysis Geocode
  15. 15. August 25, 2014PBI Internal use only 16 Operationalizing a Single View of Risk PBS Geo-ID Location Intelligence Actuarial Cat Management Underwriting Claims Distribution Executive Once a “Single View of the Risk” is achieved, the results are available for operational use by all disciplines in the enterprise
  16. 16. August 25, 2014PBI Internal use only 17 Carriers can leverage, centralize and integrate spatial data across the organization with an enterprise platform •Centrally manage data and location •Data Intelligence and Location Intelligence capabilities that are addressed within a single workflow •Deliver on both analytical and operational use scenarios •Deployed on premise, on demand or mobile services Single View of Risk: Data, Location, and Visual Intelligence PBS technology provides the only platform in the marketplace to address all data requirements, including location, in a single workflow
  17. 17. Location Intelligence: The Building Blocks
  18. 18. August 25, 2014PBI Internal use only 19 The capability to organize & understand complex relationships between location and other data in order to drive business decisions through: Geocoding Spatial Data Integration Spatial Analytics Data Mapping & Visualisation Location Intelligence Disciplines
  19. 19. August 25, 2014PBI Internal use only 20 Best-In-Class Geocoding •122 Countries at Point and Street Level •240 Countries and Territories at Postal and Place Level
  20. 20. August 25, 2014PBI Internal use only 21 Enterprise Tax Module Spectrum® Spatial Capabilities Spectrum Spatial for BI
  21. 21. August 25, 2014PBI Internal use only 22 Global Reference and Vertical Spatial Data
  22. 22. August 25, 2014 PBI Internal use only 23 The PBS Enterprise GIS Suite Desktop Professional Web Mapping Stratus / Exponare Server Mapping Analysis Geocoding Geometry Routing Bus Data Integration & Quality Catalogue and Discover Suite Content Manager Web Services (SOAP/REST/OGC) Enterprise Data Sources PBS Spatial Data Packs Spatial Databases Business Data RIA Controls Data Integration Address Management Engage 3d Route Finder Pro SDK (MapBasic, .Net, C) Crime Profiler Discover Edit Grid Spatial Data Quality Grid Mobile Tablet Pro Mobile RIA SDK MapXtreme .Net
  23. 23. August 25, 2014PBI Internal use only 24 PBS Data & Location Intelligence Platform Data Intelligence Validation Cleansing Enrichment Aggregation Location Intelligence Visualization Address Validation US Geocoding International Geocoding Hazard Data Custom Enterprise Web Mapping Desktop Mapping Desktop with Shared Maps Partner Enabled Mapping
  24. 24. Risk Data
  25. 25. August 25, 2014PBI Internal use only 26 Benefits of LI: Fire Forecast
  26. 26. August 25, 2014PBI Internal use only 27 Benefits of LI: Fire Danger Zones
  27. 27. Case Studies In Insurance
  28. 28. August 25, 2014PBI Internal use only 29 Case Study: Event Notification Overview •Access real-time with feeds –Environment Canada, WSI, etc. •Determine policies with storm track •Communicate with policy holders via phone, email or SMS •Result –reduce potential claims impact, increase customer satisfaction “The response of the market to i-aXshas been outstandingly positive, as insurers see the benefits that real-time visualization can bring to their decision-making process” Ryan Ogaard, Managing Director and Global Leader of Guy Carpenter’s Instrat® unit
  29. 29. August 25, 2014PBI Internal use only 30 Case Study: Claims Triage Overview •Access projected storm path from NOAA •Spatially query the policy management system and determine probable losses •Allocate the required number of adjustors / inspectors •Deploy them optimally •Result –reduce claims cycle-time and improve customer service “We were able to provide initial estimates of exposure and potential loss before the storm even hit the shore and then validate these through their on-site inspections.” Brian Haney, Vice President, Chief Actuary, James River Insurance Company
  30. 30. August 25, 2014PBI Internal use only 31 Case Study: Adjustor Routing Overview •Aggregate and track claims geographically •Optimally assign adjustors based on workload and location •Equip adjustors with the location of claim and driving directions •Result –Increase adjustor efficiency and customer service “Using Pitney Bowes makes it easier on the adjusting staff because it ensures that all their appointments are efficiently assigned within a geographic area” Debby Nichols, Manager of Business Intelligence, Germania
  31. 31. August 25, 2014PBI Internal use only 32 Spectrum®Spatial Analyst At-a- Glance oAn out-of-the-box web mapping solution oAllows users to: View Share Query Understand oBoth business andspatial data oOn their favorite browsers •Click to add text •Click to add text •Click to add text •Click to add text
  32. 32. August 25, 2014PBI Internal use only 33 The location imperative •80% of business data has a location component Static –Addresses of customers, stores, all assets Dynamic –Transactions –Demographic and behavioral analysis –Real-time presence sensitivity •Answers fundamental BI questions
  33. 33. August 25, 2014PBI Internal use only 34 Growing recognition of importance
  34. 34. August 25, 2014PBI Internal use only 35 And yet … it is under utilized “ In virtually all BI implementations today, location information isn't ignored, but it is pretty much used exclusively as a descriptive attribute or very coarse-grained and often static dimension.” Andreas Bitterer, Gartner, 2012.11.23
  35. 35. August 25, 2014PBI Internal use only 36 The tide isturning ▪Geospatial analysis in BI will doubleby 2016(The Data Warehouse Institute, December 2013) •Vendors are stepping up BI platforms adding geoanalysis/LI GIS tools offering platform-specific solutions Consumer mapping and SaaS Commercial-grade, standards- based solutions
  36. 36. August 25, 2014PBI Internal use only 37 Location Improves BusinessIntelligence Virtually every organization: Measures performance (sales, cost, people) and analyzes customer and prospect targets by geography. Markets by geography. –Target market identification, customer segmentation, merchandising planning Plans by geography –Network build-out, store trade area analysis, market penetration analysis. Assigns assets by geography –Services management, law enforcement resources, engineering resources, territory assignments. Tracks resources by geography –Analyzes customers and support needs by sales territories, asset management, and utilization. Manages services by geography –Customer service, financial services, field repair services.
  37. 37. August 25, 2014PBI Internal use only 39 Product Description •Spectrum Spatial for BI is an application interface between eight different BI systems, plus Microsoft Excel, and Spectrum Spatial. •The result is a visual, geographic representation within a BI report using an interactive mapping interface and tools to manipulate the data and map.
  38. 38. August 25, 2014PBI Internal use only 40 BI Server Business Data Integration Platform Spectrum Spatial BI Dashboard Browser BI Data Boundaries and Street Data Reference Data Tablet / Mobile Floor Plans Demographics Spectrum Spatial for BI
  39. 39. Risk Visualization A Demo
  40. 40. Risk Aggregation A Demo
  41. 41. August 25, 2014PBI Internal use only 43 Get a Copy of Our Risk Whitepaper