The insurance industry has long relied on location intelligence to assess and manage regional exposure to risk. But until recently, the geospatial analysis technologies available to help to extract this intelligence have been less than ideal. They’ve had high price tags, and their deployment, management, and use have required the help of dedicated data specialists. They’ve also taken a long time to process data.
Insurers and reinsurers alike are always on the lookout for tools that can provide them better predictive analysis and modeling of risk exposure, for example when faced with upcoming hurricanes, floods or other natural disasters. How will their policy portfolio be affected by a hurricane? Where should they dispatch local agents after a natural disaster? What level of reinsurance should they get when faced with new risk? All these decisions can make or break a company's bottom line as well as their customer service. Insurers use sophisticated modeling and forecasting tools to make decisions, but these tools are usually only accessible by trained analysts and getting reports takes hours if not days to receive.
Our own Doug McCune, SpatialKey engineer extraordinaire, will be presenting a session about Crisis Mapping at Where 2.0 in San Jose this Thursday, April 1st. If you are attending the event, please come to Ballroom III at 4:50pm.
Tom Link, Universal Mind CTO, presented the company's "state of the business" at a recent internal meeting. And of course, as SpatialKey's General Manager, he used SpatialKey to more visually highlight sales activities and trends, as well as answer employee questions on the fly.
We all know that a picture is worth a thousand words. Images from Tiananmen Square, September 11th, or the recent devastation in Haiti are universally understood and move people to action more than words ever could. Visualizing vs. reading about events is becoming more and more prevalent, with an increasing number of people receiving their information from the web or cell phone. In parallel with the upsurge in use of images and multimedia content to communicate information, the advent of Google Earth, online maps, or car and phone navigation tools has created an explosion in the use of visual maps in every day life. Instead of reading text, we are now provided maps to more easily see how to get from point A to point B, or where to find open homes in a specific neighborhood. For most of us, seeing is understanding and believing.