Geocoding tool application

Client Situation



  • Client: Belgian insurance company

  • Retail and B2B portfolio

  • Multiple scenario analysis

    • Flood risk

    • Coastal flood

    • Wildfire risk



Issues



  • Lack of data quality and accessibility


    • Inconsistent insured values

    • No precise addresses in some cases

  • Abnormal values lead to poor conclusion



Reacfin Contribution



  • Assessment of the risk level of each policy

  • Comparison of the portfolio with a simulated portfolio to detect any overexposure

  • Flood cost computation

  • Contribution to the ORSA climate risk section



Results & Benefits



  • First application of the geocoding tool developed by Reacfin on a client portfolio

  • Overall view of the underlying flood risk of each portfolio

  • Overexposed regions/municipalities are detected