(Image source: GeoX website.)
EigenRisk (Ann Arbor, Mich.) has integrated GeoX (New York) property intelligence into its EigenPrism catastrophe-risk management platform.
The integration gives reinsurers, insurers, MGAs, brokers and risk managers access to AI-derived property attributes across more than 186 million U.S. commercial and residential properties, according to an EigenRisk statement.
Deepak Badoni, President, EigenRisk.
GeoX’s property intelligence dataset is integrated directly into EigenPrism, where users can augment exposure data with building attributes and analytics for their books of business. EigenRisk says the integration is available now to all EigenPrism users.
“GeoX further deepens the data ecosystem we’re building in EigenPrism,” comments Deepak Badoni, President and Co-Founder, EigenRisk. “Underwriters, brokers, and analysts can now augment their exposure data with AI-derived building attributes and access actionable analytics for their book of business, all in one platform.”
EigenRisk says property-data quality at submission can affect underwriting outcomes in catastrophe-exposed markets. Gaps in exposure data can contribute to mispriced risk, adverse selection and avoidable losses, according to the statement.
The GeoX data includes national U.S. coverage, including rural areas, with 12-month data recency and a sub-second API response time, according to EigenRisk. The companies say the integration can support underwriting, claims processing and risk evaluation at scale.
Jacob Grob, EVP of U.S. Markets, GeoX AI.
“Bringing GeoX’s property data into EigenRisk gives underwriters and reinsurers a much clearer, parcel-level view of what they’re actually insuring,” comments Jacob Grob, EVP of U.S. Markets, GeoX AI. “By pairing EigenRisk’s platform with our imagery analytics across 186 million U.S. properties, we’re making it easy for teams to evaluate portfolio risk in seconds without getting bogged down by manual checks.”
Improving Exposure Data Quality
EigenPrism provides catastrophe analytics, exposure management, hazard intelligence and geospatial analytics for insurers and risk managers. EigenRisk says the GeoX integration expands a data ecosystem that includes more than 40 data providers.
GeoX uses aerial and satellite imagery, computer vision, deep learning and historical imagery to produce property attributes and risk insights for insurance workflows. The company says its property intelligence can support underwriting, claims and portfolio risk analysis.
EigenRisk provides catastrophe risk management technology for reinsurers, insurers, MGAs, brokers and risk managers. The company’s cloud-based platform supports data management, geo-visualization, analytics, reporting, modeling, alerts and APIs.
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