Property liability insurance firm St Paul Travelers UK has adopted Mapflow’s RiskView online risk mapping system to support risk assessment for individual buildings.
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The RiskView system is designed to help underwriters make accurate decisions by identifying the risks associated with a specific location in real time. The package combines geographical information systems technology with third-party flood, subsidence, crime and other peril models.
Mapflow is providing RiskView to St Paul under a "software as a service" business model.
Roy Hesketh, commercial underwriting systems development manager at St Paul, said thorough assessment of natural risks to buildings, such as subsidence and flooding, would improving the accuracy and profitability of the firm’s property underwriting.
Mapflow's service removes "the need for us to invest in expensive software and data, while providing up-to-date information when and where we need it", he said.
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