Use Case – Map Application Provides Optimal Risk Insights for Insurer MS Amlin
Digital Risk Map Helps MS Amlin Assess Commercial Real Estate Faster and More Accurately
Insuring commercial real estate comes with its risks. Limited and fragmented data and tools are just some of the pitfalls MS Amlin needs to watch out for. In co-creation with the insurer, GIM developed a map application to map out insurance risks more efficiently, objectively, and comprehensively.
Insuring the Insurer
Insuring the fire and technical risks of commercial and industrial real estate requires thorough expertise. It’s no surprise that in this field, the details matter. But that’s also where challenges often arise. Koen Glorieux, Lead Underwriter Property at MS Amlin Insurance’s Brussels office, explains:
“Screening prospect files is very labor-intensive. Traditionally, experts need to conduct site visits and collect data manually to map out the technical risks. The challenges they may encounter include the lack of quality and the fragmented nature of the necessary data. Additionally, the variety of available tools and the absence of contextual insights about the location make the analysis even more complex. The potential impact of this is significant. For example, commercial properties can end up being underinsured.”
To optimally insure commercial and industrial real estate, solid preparation based on accurate data and tools is essential. Efficiency also benefits from this approach. “The higher the quality, completeness, and integration of the preparatory data, the more targeted and faster we can conduct site visits,” Koen adds. “This also frees up time to focus on the more specific aspects of the property to be insured.”
Mapping the Building, Surroundings, and Business All at Once
To reap these benefits, GIM co-created a digital map application with MS Amlin within Belmap 360. “With this tool, we can quickly and easily review the characteristics and surroundings of a building—for example, to assess the risk of flooding or fire spread. All we need to enter is the address.”
“The application also allows us to request additional details about the businesses in and around those buildings,” Koen continues. “Certain business activities carry a higher risk of fire, explosion, or environmental pollution. The easier it is for us to map these, the better we can assess the overall risk.”
With Full Confidence
This golden combination—high-quality Belmap data and seamlessly integrated business information—convinced MS Amlin almost immediately. Other factors also played a role. Koen explains: “MS Amlin and GIM have been working closely together for some time. We were already familiar with the Belmap data and see GIM as a reliable, flexible, and innovative partner.”
“Our solution is also extremely intuitive and user-friendly,” Koen adds. “The data visualization is clear, and the map component is easy to query by simply entering the address. The search function is even automatically completed with available addresses. All of this saves time and increases efficiency.”
From Finish Line to Next Step
The fact that the new application was developed in co-creation was the icing on the cake. Koen says: “Thanks to the close collaboration between GIM and MS Amlin, we were able to indicate what truly makes a difference for us in product development. The feedback channels were always open, and GIM acted on our input quickly.”
“We are very proud of the final result,” Koen concludes. “But it’s far from the end. We already see potential additional features to incorporate into the map application—such as integrating financial company data, adding more imagery, or enabling advanced selections. We also want to further develop the so-called ‘risk warning’ services, for example in the area of risk accumulation. To be continued!”
“With the application, we can quickly check not only the characteristics and surroundings of industrial and commercial buildings, but also specific details about the activities within those buildings. That information is invaluable when assessing fire and technical risks for insuring commercial and industrial real estate.”
Koen Glorieux, Lead Underwriter Property bij de Brusselse vestiging van MS Amlin Insurance
About MS Amlin Insurance S.E.
MS Amlin Insurance S.E. is a member of the MS&AD insurance group, which ranks among the world’s top 10 largest non-life insurers. MS Amlin Insurance S.E. specializes in business insurance, property damage, liability, marine, and transport insurance. Across Europe and the United Kingdom, MS Amlin’s insurance experts support their brokers by providing tailor-made solutions for professionals as well as small, medium, and large enterprises.
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