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Industry Updates
HISCOX TO UTILIZE
CORELOGIC
GEOCODING TECH FOR
INSURANCE RISKS
CoreLogic has announced that global
insurance carrier Hiscox London Market has
adopted the company's PxPoint technology
delivered via its RiskMeter platform as its
primary source of geocoding. RiskMeter
will enable Hiscox to drive further insight
from property risk data when underwriting
insurance policies using advanced geocoding
technology.
"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. "is alliance is the crossroads of
technology meeting the demands of modern
insurance workflow."
Knowing a property's exact location is
crucial to understanding the potential risks of
natural disasters such as wildfires, hurricanes,
tornadoes, and floods. RiskMeter delivers
CoreLogic's PxPoint geocoding technology
to pinpoint a property's location enabling
accurate assessment of its level of exposure
to these hazards. PxPoint offers geocoding
to a building's footprint level which is an
essential level of precision when gauging a
property's likelihood of damage from a natural
disaster. PxPoint integrates seamlessly with
Hiscox's existing technology and workflow
via high-capacity APIs. ese APIs 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.
"e structural level accuracy of the
PxPoint geocoding enables us to confidently
assess and price a risk at speed for our
underwriting APIs," said Paul Butler, London
Market Technology Director for Hiscox.
