Challenge: Precise risk assessments are essential for the insurance industry. In order to stay competitive and to cope with increasing amounts of data, insurers must enhance existing analysis strategies with novel technologies.
Solution: Based on geo-data, Geospin develops sophisticated machine learning based forecasting models for your insurance plans. Our insured loss predictions enable differentiated and fair risk assessments. With Geospin, you get to understand your customers better, detect high-risk groups and adjust your policies to precise risk evaluations.
Our forecasting model calculates local theft probabilities using 800 environmental features. One advantage of our approach is the unprecedentedly high spatial resolution compared to existing industry benchmarks.
Our forecasting model calculates local loss estimates, e.g. for bicycle theft. Our predic-tions also work for areas without pre-existing market data.
Geospin’s forecasting tool can estimate expected damages from household insurance plans. That way, you can identify high-risk areas.
“Geospin and its extraordinarily granular spatial resolution add substantial value to our forecasting models”
Michael Galuba, Head of property/liability/accident private customers, property damage and corporate customers, VHV Holding AG