Location Intelligence for Insurance and Banking: Galigeo empowers the insurance industry to make more informed decisions and gain a competitive advantage regarding marketing actions, risk assessment, claim management and fraud detection.
Galigeo’s solutions for Insurance & Banking Industry help:
Galigeo assists Insurance, Banking & financial companies in making complex location-dependent marketing decisions by representing and displaying marketing data on maps to identify hidden trends, customer relationships and behaviors, as well as enable a deeper marketing analysis. Insurance Location Intelligence bring the “where” factor to your analysis helping maximize the results of:
Insurance Location intelligence solutions also turn data about customers, trade area, and marketing operations into knowledge that provides greater insight into performance.
Considering the location dimension can enable users to find assets, their proximity to hazards, and their risk exposure. Consequently, location intelligence can provide a more accurate and comprehensive view of risk. Galigeo brings to the Insurance & Banking industry a new generation of location intelligence applications fully integrated with performance management systems. By factoring location information into this analysis, insurers can make better decisions when accepting or renewing a policy.
In risk management, the question WHERE something is or WHERE something happened or could happen is incredibly important for Insurance risks, Market risks, Credit risks and Operational risks.
Claims handling is a costly process for insurance companies. Claims handling consists of using existing data to determine the extent of the damage and deciding whether to compensate it. The process is difficult to manage without spatial data because the questions WHERE the incident occurred and WHERE a service provider (partner) is located play an important role
Over 25% of policy holders admit to having made at least one false claim. Insurance cases have a direct spatial context. Insurance companies need detailed insight into the spatial situation, the local information provided by the policy holder and the plausibility of the information. This is possible by embedding location intelligence in a claims handling process or by displaying and analyzing conspicuous cases in the BI application.
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