Underwriting, Assessing Risk, Big Data

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Catastrophes have rewritten the rules of the insurance game. Before Hurricane Andrew, in 1992, insurers essentially guessed at what the financial damages would be if a disaster struck. Turns out, they drastically underestimated what the losses might be. And they suffered the consequences.

Smart underwriters don’t guess. They use the kinds of cutting-edge parcel mapping and risk assessment tools ATTOM Data Solution offers. They know the insurance industry is ripe for digital disruption. And they know the consequences of not keeping pace with technology.

How Underwriters Assess Risk

Whether they use cutting edge technology or paper trails, insurance underwriters all look for the potential risks to a property, from the probable to the highly unlikely. They look at the individual sites histories and nearby properties and play an elaborate game of “What could possibly go wrong, and how often?”

  • Is the property close to a river known to flood?
  • Is it on a hurricane-prone coast?
  • Is it on a fault line?
  • What about hail damage or susceptibility to lightning?
  • Or is it in a high crime area that would make it prone to break-ins or vandalism?

Questions like these make up most of an underwriter’s research. But figuring out how the answers apply to a region or a neighborhood or even a single lot can be daunting without the right tools. Which is where ATTOM Data comes in.

The ATTOM Solution

ATTOM Data Solutions has one of the most comprehensive data warehouses in the insurance industry – tools that enable insurers to model risk levels down to the property; tools that allow analytics firms to determine the types and levels of risk that influence the policies insurance companies write.

Tools that take the guesswork out of the equation and put up-to-date, accurate, detailed data in its place.

Is ATTOM’s Vast Database for You?

That depends. Are you:

  • A homeowner insurance underwriter who wants to streamline the underwriting process from end to end?
  • Underwriting for a landlord or renter who needs to calculate neighborhood demographics, costs, and crime data?
  • A catastrophe insurance underwriter who needs to see comprehensive property valuations, public records, natural disaster histories, and hazard data?
  • Smart?

Then the answer is clearly yes – ATTOM Data Solutions’ expansive storehouse of information is the best call for you.

Why ATTOM is the Best Call

ATTOM’s comprehensive database leads to

  • Better risk analysis through improved claims frequency, less adverse selection, and simplified inspection and loss/control decisions.
  • Streamlined processes, improved tier placements, optimized eligibility lines, and improved deduction creation.
  • Better, more efficient marketing by letting you find the best prospects and up your conversion rates.

So, call us! Our friendly data experts are online at www.ATTOMData.com, or at 800-462-5125.

Please contact us if you have questions about the underlying data referenced in this article, or would like to have access to that data in the form of custom reports, API, Bulk File or DaaS.

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