Insurance Services

From Risk Modeling to Claims Management

For over 15 years Airbus has shaped how satellite imagery and property-level datasets are used for insurance applications. Our thematic services support risk modeling, underwriting and claims teams to enable better planning and results.

Geospatial Financial Hub - Environmental perils risk data and portfolio analysis at property level

Risk assessment is a key task for mortgage lenders, conveyancers, property surveyors, valuers and insurance underwriters. They are reliant on the sharing of data at the earliest stage of the transaction. The failure to do this currently results in decisions based on assumptions and undisclosed information, which incur financial costs, risk to lenders and delays to the customer.

Airbus’ Geospatial Financial Hub delivers multiple geospatial GB datasets, from leading specialists, to eliminate uncertainties and reduce risks for the property insurer, owner, vendor and lender.

Airbus supplies multiple geospatial datasets:

  • Secure online visualisation platform.
  • Portfolio data is styled in a heat map for ease-of-use by the user.
  • Every residential address in Great Britain is appended with:
    • A binary flood risk score;
    • A binary subsidence risk score;
    • A count of non-repudiated subsidence claims in the area;
    • Details and images of property surveys, including your own data.
  • API’s allow additional data (such as title deeds) to be layered in continuously with built-in geo-processing.
  • Peril assessment for property portfolio with geographic concentrations of existing risk exposure
  • Information is updated every six weeks to enable the regular addition of data on new builds and to remain up-to-date.
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Flood image: Property flood risk analysis for insurers and lenders / Subsidence image: Subsidence perils risk management at property level

Geospatial Financial Hub Key Features:

  • Access to multiple geospatial GB datasets from leading specialists
  • Environmental perils datasets at individual property level
  • Property portfolio risk analysis
  • Visualise risk via an easy-to-use online platform

Your advantages with Geospatial Financial Hub:

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Quick Decision Making:
Make immediate decisions on insurance and mortgage applications through a centralised data solution

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Reduce Portfolio Risk:
Future proof portfolio by assessing the risk of your back-book

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Increase Efficiencies:
Realise efficiencies by carrying out desktop surveys prior to sending surveyors on-site.

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Improved Customer Experience:
Improve the customer experience by reducing the delay in insurance and mortgage application decisions

Catastrophic Response: Leverage Machine Learning and AI for Faster Response to Catastrophic Events

Faster Claims Processing. Better Customer Service.

Some CAT events allow for planning and preparation, others happen without warning. In both scenarios, there’s often chaos on the ground. Public access can be restricted for days. Your customers are displaced. They need to know what has happened, and what will happen next. And, it is your team’s job to gather data and insights to act as swiftly as possible.

Our CAT Response solution is specifically designed to provide the fastest possible aerial insights to enable your claims teams to make critical decisions and process claims faster than ever before.

When a CAT Event is brewing or when something unexpected happens, your Airbus team is there planning and tasking to ensure the most up-to-date imagery is available to you. Our in-house teams become an extension of your team, adding unparalleled expertise and infrastructure.

Insurance Services - Catastrophic Response

Pre-Event Planning

Some CAT events allow for planning and preparation, others happen without warning. In both scenarios, there’s often chaos on the ground. Public access can be restricted for days.

During the Event Tasking

Your situational awareness is powered by our ability to expedite tasking of the Airbus-owned constellation of satellites in your area(s) of interest.

After the Event Tasking

Let our machine learning help prioritise your team’s efforts and outreach by recommending Policies in Force (PIFs) likely damaged.

 

Increasing Claims Processing Volume

Using aerial imagery of an impacted area allows claims teams to make accurate, high-volume decisions to plan and deploy resources in a fraction of the time it would take to manually inspect properties.

The Airbus constellation of satellites provides up-to-date pre-event premium imagery and combines it with the fastest post-event imagery in the industry.

Overlaying your PIF data and analysing the impact of an event is simple and easy. Our AI and machine learning algorithms help your teams prioritise claims handling based on impact, saving vital time. Getting enough information about the level of damage to determine the first step and which type of adjuster should get the claim, efficiently enables staffing of CAT events with the right personnel.

Your Advantages with Catastrophic Response:

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Access-Restricted Area Insights Whithin 6 Hours

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Total-loss Claims Handled From Desktops

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Easy Tasking Gathers More Details When Needed

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Export Report For Claims File Documentation

Get Access To All Your Imagery Needs In One Place

Our satellite constellation and trusted network of manned and drone image acquisition options ensures you quickly get the images you need to coordinate your CAT response planning. Use the GIF here of 3 types of imagery.

Insurance - CAT response planning - satellite constellation

Easily overlay your PIF & 3rd party data for visualisation

Categorise PIF damage with AI & Machine Learning Processes

Insurance Services - CAT magnitude of claims

When a CAT event occurs, the sheer magnitude of claims to be processed can instantly overwhelm even the most well-tuned CAT Response claims teams. Using machine learning to categorise and prioritise damage to PIFs in your AOI significantly increases your team’s claims processing potential. Processing can begin before claims are filed to accelerate the workflow and increase customer satisfaction.

Did You Find Your Solution?

Airbus is there to support your business. We are ready to deliver.