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Geospatial data is the key to insurance innovation.
We're here to help your business be at the cutting edge.

Geosite’s applications are driving innovation and eliminating inefficiencies across the insurance industry. Today, many insurance companies still rely on antiquated methods and technology to assess risk, process claims, and interact with customers throughout the insurance value chain.

 

These problems manifest as coverage gaps, an inability to quickly serve customers in need, and lower NPS scores. Intuitive data usage and integration is the key to solving these problems. Geosite’s applications provide access to those data sources so that insurers can optimize their performance and increase customer satisfaction.

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Our Tools Are Designed To:

  • Automate Extent of Liability
    • ​​​Accurately and automatically determine estimated losses during major disasters to predict extent of liability.

  • Speed Claims Resolution

    • Prevent additional property damage by decreasing the time between when a natural disaster occurs and when repairs are completed.

  • Ensure Customer Satisfaction

    • Get your customers the resources they need to get back in their homes more rapidly without unnecessary and burdensome delays.

  • Open new markets

    • Leverage previously inaccessible data to glean information about properties that would otherwise have too much uncertainty to insure.

Building A Claims Application with MS&AD

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In 2021, MS&AD approached Geosite to help them overhaul their claims processes through digital transformation, which would enable them to more efficiently receive and process claims. Prior to this partnership, MS&AD’s claims databases were siloed and inaccessible, and customers had to submit claims information manually, which led to slow and inefficient claims processing and payout.

The MS&AD Claims team leveraged Geosite’s data marketplace to select the data (from satellite imagery, drones, and IoT) that provided insight on areas of interest post large-scale catastrophic events.

In addition to this data fusion, Geosite built proprietary AI/ML models to automate damage assessment, and overlaid it with the existing data; this functionality provides claims with the comprehensive knowledge of post-cat damage. Finally, Geosite piped all data and analytics models into a customized, single software environment for claims; claims analysts are now able to easily access the insights from spatial data with little to no training. With Geosite’s platform, MS&AD can quickly estimate claims amounts, approve loss amounts in minutes, and operate more efficiently.

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Utilize the geospatial economy to improve customer satisfaction, increase efficiency, and optimize claims and underwriting processes.