Risk scoring is an important way to remove uncertainty from cat peril risk assessments, and to improve underwriting. But there is no risk score that will fit every underwriter's business. That is why InsitePro® delivers custom risk scores.Every InsitePro® client can create a risk score that matches their:
Custom risk scores can be created with any of InsitePro®'s native datasets or other data the underwriter might have. Datasets can be weighted based on their importance and combined in the exact way that fits the view of risk. InsitePro® risk sores can handle any geographical variation on the view of risk (i.e. in Florida do it this way, while in Texas do it that way). The output of the risk score is devised to fit into the next step in the underwriting process seamlessly; if a rating scheme has 4 different rates, the output can be 1 — 4.
Underwriters who use custom risk scores based on high quality data find their underwriting results improve dramatically. Whether it is risk selection or risk rating, they create portfolios that match the risk they are trying to cover.
InsitePro® builds custom analytics for flood and wildfire.