Leading global property data and analytics-driven solutions provider, CoreLogic, has announced that Hiscox London Market has adopted its PxPoint technology to better understand property risk and enhance underwriting accuracy.
Delivered through the RiskMeter platform, the solution uses advanced geocoding technology to provide detailed information from precise location to structure, to assess its overall vulnerability to natural hazards such as hurricanes, tornadoes, wildfires, and floods.
In addition, the PxPoint solution integrates seamlessly with Hiscox’s existing technology and workflow via high-capacity APIs.
These APIs, then deliver data in real time, which assists in quickly and efficiently determining a property’s risk of disaster-related damages when deciding coverage options and costs.
“We worked closely with Hiscox to deliver PxPoint via our RiskMeter platform, providing a critical level of precision that provides insights into specific peril risk and portfolio-level exposure analytics,” said William Forde, senior director, at CoreLogic Protect.
“This alliance is the crossroads of technology meeting the demands of modern insurance workflow.”
Paul Butler, London Market Technology Director for Hiscox, added: “The structural level accuracy of the PxPoint geocoding enables us to confidently assess and price a risk at speed for our underwriting APIs.”
Meanwhile, CoreLogic recently announced that it had expanded its partnership with Duck Creek Technologies.
