Following up on our post last week, SpatialKey is pleased to have integrated another flood extent from our data partner JBA Risk Management. The event footprint helps insurers form a more complete view of their potential exposure in a state hard hit with multiple severe storms in 2016.
The multiple expert data sources within SpatialKey can help you calibrate your underwriting guidelines and view of risk.
With several flood hazard data options out there, it's a good idea to consider more than one. For example, FEMA National Flood Hazard Layer (NFHL) maps may not provide the best representation of risk in all cases. If you based your underwriting decision solely on the NFHL, you likely assumed more avoidable risk than you thought.
With SpatialKey, you can access additional data and increase your confidence and your underwriting profits. To learn more about how SpatialKey can help you compete more effectively for new business and ensure you collect adequate premium while maintaining a healthy flood portfolio, contact us today.