Moody’s has selected TomTom’s global location data to enhance the accuracy and relevance of geocoding analyses across various workflows in its risk management solutions.
This data will be integrated into Moody’s Insurance Geocoder, combining TomTom’s highly accurate location data with Moody’s modelling capabilities. This integration will provide organisations in the insurance, financial, real estate, and related sectors with better insights for managing risk, reducing uncertainty, and improving decision-making.
For insurers dealing with high-risk events such as floods, storm surges, and wildfires, using precise geocoding specifically designed for insurance is crucial. TomTom’s comprehensive and up-to-date location data enables Moody’s to develop the most effective insurance geospatial references.
One application of Moody’s Insurance Geocoder is helping home insurance companies accurately assess the exposure of each property to natural catastrophes. This allows the company to set appropriate premiums and effectively manage its overall portfolio.
Aaron Mayfield, Senior Director of Product, Insurance at Moody’s, comments, “Accurate and up-to-date geocoding data is core to Moody’s suite of solutions for insurance clients.”
Mayfield adds, “We’re excited to continue working with TomTom and to use their high-quality location data to deliver advanced intelligence and solutions that help our customers outperform and address the industry’s most important challenges.”
Mike Schoofs, Chief Revenue Officer at TomTom, states, “We’re proud to build on our long-standing collaboration with Moody’s, providing our fresh and reliable location data to help them empower customers with accurate, actionable insights.”
He continues, “Through this collaboration, Moody’s customers leverage TomTom’s location data to address their unique challenges, speaking to the versatility of our location technology.”
