Location Intelligence

Enformion for Location Intelligence

Understanding the demographics of an area and what its occupants need from insurance coverage can help you to act proactively and gain satisfied clientele. Enformion has the data you need to do so.

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Location Intelligence Services at Enformion

Depending on the kind of insurance to be issued, where a person lives, works, or otherwise spends a lot of time can be a huge part of your decision-making process. It’s at least as important as a customer’s background or the details of the property to be insured.

We can help you to accurately factor location in to the quoting and underwriting equation. Enformion data and tools can help you to more accurately assess risk, set appropriate pricing and generally get a better understanding of the clients you serve.

Assess Risk Faster and More Accurately

The demographics of a neighborhood is a big factor in determining risk. Whether a customer lives in a high-crime neighborhood or in a private gated community will certainly influence the perceived level of risk and resulting premiums. Enformion offers access to location data in a variety of ways to meet your particular business needs.

  • Via our customizable API solutions, you can use your own interface to access our data and make it an integral part of your underwriting process.
  • Or you can search for individual properties quickly using our proprietary Web Search.
  • Either way, you can use the location data you find to help calculate risk quickly.

See the Bigger Picture

Professional instinct can be an invaluable trait, especially when it comes to assessing locations. Learning more about a neighborhood in general can help you to build up your own internal knowledge base. Crime trends, property values, resident income ranges; understanding all of these things can help you to better understand a neighborhood as a whole. Use our data to enhance your expertise.

  • An individual property isn’t an island unto itself; the surrounding area can’t help but influence it.
  • Over time, data trends can reveal changes to a neighborhood that aren’t obvious at first, which can give you a professional edge.
  • Understanding a neighborhood, and anticipating upswings or downswings, can help you to make smarter underwriting decisions.

Provide Appropriate Solutions

Different products and services may be suitable for different clients; that’s a decision largely based on their location. With your data-driven expertise in a neighborhood, you can figure out the right type of policy for a client relatively quickly. And being able to make things quick and smooth is just what customers are looking for.

  • Via marketing efforts or word of mouth, potential clients who know you have expertise in an area will be more drawn to your services, assuming a comfortable, straightforward experience.
  • You can walk customers through the process, cementing your reputation as a location expert.
  • Over time, continue to use our data to always stay on top of what’s happening in a neighborhood.

Price Things Properly

If the risk is higher in one location than the other, it makes sense that you would want to increase premiums accordingly. And vice versa. Just as you would use our data to determine risk, so too can you use it to provide area- and policy-specific pricing. Keeping your pricing proportionate to a neighborhood will help you to grow your portfolio, as well as your profits.

  • Risk and pricing are directly related. Being able to accurately determine one will also help you to be fair with the other.
  • Fair pricing, along with a satisfactory product, will keep clients coming back.
  • And these return clients will tell their friends and neighbors, potentially building your clientele even further.

INSIGHTS AND EVENTS

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The State of Third-Party Collections 2019: Challenges, Trends and Innovations

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The State of Third-Party Collections 2019: Challenges, Trends and Innovations

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The State of Third-Party Collections 2019: Challenges, Trends and Innovations

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The State of Third-Party Collections 2019: Challenges, Trends and Innovations

Talk with a specialist today to learn how Enformion can help to customize a solution that’s right for you.

Call us at 1-855-281-3915, or via online today.