How Insurers Can Leverage Hazard Risk Data
How Insurers Can Leverage ATTOM’s Environmental Hazard Risk Data
No one can guarantee zero risk from environmental hazards. But on the upside, there are ways to play the odds.
You know, for example, that Miami, Fla., is more susceptible to hurricanes than, say, Cheyenne, Wyo.? Areas prone to repeated natural disasters are easy to identify. It’s why a term like “static risk” exists in the first place – you know what you’re up against and the potential for damage is more predictable.
In the absence of large-scale, predictable natural spectacles like hurricanes in Florida or tornadoes in Oklahoma or earthquakes in California, assessing hazard risk can get a little dicier – unless you have the right information to tell you what issues could arise for a property or a region.
ATTOM’s environmental hazard data is the solution to that issue.
Know the Risks
Big natural disasters are top-of-mind issues for anyone living in a region prone to something like a wildfire or flooding. Insurers need to go one better, though, and think about the less-considered kinds of natural and man-made hazards a property could face.
ATTOM’s hazard data doesn’t just identify the easy-to-spot risks, it also puts you in front of meticulously curated information about hazards like radon on or near a particular property; records of hail damage and frequency; air quality; and ground toxicity from agricultural or industrial production nearby.
ATTOM’s hazard data also identifies registered polluters, brownfields, Superfund sites, and even meth labs at or near a property.
Use Data Smartly
Imagine the kinds of risk profiles you could write – or pass on – by knowing exactly where and how serious a hazard is to the properties you’re looking to insure. By culling historic data for hazards, you can identify patterns and regularities; and with ATTOM’s Bulk Data delivery solution, you can apply your findings quickly and efficiently and have fewer dynamic risks to contend with.
ATTOM’s environmental hazard data is compiled from various government agencies that track natural and man-made risks within a given geographical area. It’s not only sweeping in breadth, it’s accurate and up-to-date when you need it.
Remember – you’re an insurer. Don’t go in unprepared. Visit www.ATTOMData.com or call 800-462-5125 to talk to one of our data experts today and learn how we can help you identify the risks, so that you don’t have to be the one taking them.
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.