SecurityGauge Provides Insurers with Crime Analytics, Maps, Data
Staff Writer | May 12, 2016
Location, Inc., a provider of location-based data, tools and services, used by over 44 million people and businesses, announces it has updated its predictive analytics, scores and heat maps for violent and property crimes in its SecurityGauge platform for 2016.
SecurityGauge’s annual crime update is unique in that it collects raw data reported from over 18,000 local law enforcement agencies across the U.S., and uses a relational database to assign reported crimes from every agency (e.g., municipal police, campus police, port authority, transit, etc.) to the localities for which they have law enforcement responsibility.
With this exclusive database, SecurityGauge then uses its computer models to statistically predict the rates for every major type of crime (violent and property) with 33 foot resolution across the United States.
Insurers who write general liability, habitational, manufactured homes, vacation rentals, and other programs can use SecurityGauge's updated crime risk scores to streamline operations by eliminating risks in the early stages of the underwriting process, strategically route potentially fraudulent claims to special investigative units (SIUs) or improve in-house or external modeling results.
“SecurityGauge crime analytics are not only helping insurance carriers with improving operations and modeling, but they are also helping brokers as well,” says, Andrew Couture, vice president of sales for Location, Inc. “Recently I had a conversation with a broker who had a client developing a brand new facility, which included a walk way along a river. When the broker alerted his client of their crime scores, they eliminated the walkway from their plans, increased their liability coverage and budgeted additional security for their parking garage.”
SecurityGauge crime data has been tested on over 10 million records and is used by over 20 insurance carriers.
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