Insurers and reinsurers often have surprisingly limited information about the properties they are insuring. They may often not have a clear picture about what a structure is built from or even exactly where it is in relation to specific hazards. This lack of information leads to uncertainty about the losses they would face in the event of a disaster. This in turn affects everything from policy prices to the capital reserves the insurers have to hold.
Datanauts worked with remote sensing specialists ImageCat to develop a system for quickly visualising and enhancing property data. We achieved this by identifying both internal inconsistencies within a dataset and by enabling insurers to quickly compare property details they hold with those available on commercial property databases.
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