More than 70% of UK companies are using geographic information-based technology in business.
Once the realm of geography academics, geographic information systems (GIS) and other related technologies are now gaining mainstream business recognition, with over half of nearly 300 IT directors and managers surveyed understanding what the term GIS means.
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Bernard Mageean, commercial underwriting director for Royal & SunAlliance, said R&SA uses GIS to more effectively manage and underwrite insurance risk.
GIS technology is fully integrated into the firm’s underwriting system to enable it to carry out risk assessments and manage risk at the point of underwriting new business.
He said, “We realise that geography is at the heart of our business and that the quality and accuracy of data we capture is absolutely fundamental. The key to achieving this is the integration of GIS into our core business and technical processes.”
The survey found that 30% of IT directors and managers believed GIS could help them improve the management of data on their networks and almost a third felt the technology could add value to their data.
Related article: Water firm adopts mobile GIS system
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Stuart King’s risk management blog
Dealing with the operational challenges of information security and risk management