seeing is believing -- risk visualization and aggregation
DESCRIPTION
Experts may disagree on the root causes of catastophes, but it is clear that both population growth and demographic shifts have been major factors behind increased losses from extreme weather conditions. Location intelligence technology -- including mapping, visualization and analytical capabilities -- is helping carriers get a better understanding of risk exposure in their book of business. From risk exposure to CAT modeling to claims management, Pitney Bowes' superior location intelligence capabilities are helping insurers "see" risk in a whole new way. By turning business insight into measureable action, insurers improve competitiveness and profitability, while reducing costs. View the webinar to: Understand risk exposure in your book of business. Improve policy pricing and underwriting discipline. Improve claims response to FNOL. Identify patterns of fraud. Enhance customer segmentation and market penetration. Find out why 25 out of the top 25 P&C carriers use Pitney Bowes location intelligence technology. http://pitneybowes.comTRANSCRIPT
Seeing is Believing:
Risk Visualization & Aggregation
August 7, 2014
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Today’s Speakers
Bill Sinn
Global Marketing Director
Insurance & Healthcare Practice
Pitney Bowes Software
Frederick Lamont Norman
Principal Solution Engineer
Pitney Bowes Software
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Agenda
• Who is Pitney Bowes?
• The Power of Location Intelligence
• LI Building Blocks
• Spectrum Spatial Demo
• Case Studies
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You know Pitney Bowes as a global leader in mail
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• Pitney Bowes, a global technology company, powers billions of
physical and digital transactions in the connected and borderless
world of commerce.
• We enable data-driven marketing, parcel shipping & logistics, and
statements, invoices & payments through our data management &
engagement software, location intelligence offerings, and
shipping & mailing solutions.
• Helping clients achieve their greatest commerce potential are more
than 16,000 passionate employees around the world, our
relentless pursuit of innovation with over 2,300 active patents,
and our focus on clients, who are at the center of all that we do –
from small businesses to 90% of the Fortune 500.
But we are so much more than that…
Our Core Capabilities
DataIntegrating &
enriching individual
customer data
AnalyticsUnderstanding
& predicting
customer behavior
CommunicationsManaging & connecting
cross-channel
customer dialogue
Location
IntelligenceMapping, visualization
and analytic capabilities
to drive greater insight
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Pitney Bowes: Helping Insurers around the Globe
• 25 of the top 25 US P&C carriers
use Pitney Bowes
• 22 out of the top 25 US L&H
carriers use Pitney Bowes
• Over 300 Global insurers use
Pitney Bowes
• 190 insurance companies use Pitney
Bowes in North America alone
Life & Annuities P&C
Snapshot of our Customers
Healthcare
Our Partners
Core Systems Partners
- Adaptik
- StoneRiver
- Majesco Mastek
Systems Integrators
- IBM
- Tata
- Accenture
- CSC
- CGI
Legacy Migration
- DocuConsulting
Maximizing Lifetime Customer Value
ACQUIRE CONVERT GROW SERVE RETAIN
• Acquire
profitable
customers
• Make customers
profitable faster
• Reduce cost to serve
and drive margin
• Cross-sell/up-sell and
drive revenue
• Reduce number of
unprofitable customers
• Focus on retention,
loyalty and
engagement to
drive profitability
Optimized
Customer
Lifecycle
Typical
Customer
Lifecycle
The Power of Location
Intelligence
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PB: Enabling Your Data Geographically
Spatial Analysis •Mapping customers against company
network
•Mapping competitors against company
network
•Analyze customer segmentation by
location • Analytics• Risk Analysis
• Vendor Channeling
• Who are my best customers
• Analyze service coverage
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Exponential Growth of LI
Addresses
Geocodes
Reverse Geocodes
Maps
Spatial Analysis
Actuaries
Cat Management
Underwriting
Distribution
Claims
Executive
Risk Management
Risk Assessment
Distribution Management
Policyholder Service
Campaign Management
Targeting/Segmentation
Routing
Fraud Detection\Prevention
MORE
GIS DATAMORE
GIS USERS
MORE GIS
APPLICATIONS
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A Singular View of Location Intelligence
PBS Geo-ID Location Intelligence
Hazard Data
Construction
Data
Business Data
DemographicData
Internal Data
External Data
Spatial Analysis
Geocode
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Operationalizing a Single View of Risk
PBS Geo-ID Location Intelligence
Actuarial
Cat Management
Underwriting
Claims
Distribution
Executive
Once a “Single View of the Risk” is achieved, the results are available
for operational use by all disciplines in the enterprise
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Carriers can leverage, centralize and integrate spatial data across the
organization with an enterprise platform
• Centrally manage data and
location
• Data Intelligence and Location
Intelligence capabilities that are
addressed within a single workflow
• Deliver on both analytical and
operational use scenarios
• Deployed on premise, on demand
or mobile services
Single View of Risk:
Data, Location, and Visual Intelligence
PBS technology provides the only platform in the marketplace to address
all data requirements, including location, in a single workflow
Location Intelligence:
The Building Blocks
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The capability to organize & understand complex relationships between location
and other data in order to drive business decisions through:
Geocoding Spatial Data
Integration
Spatial
Analytics
Data Mapping &
Visualisation
Location Intelligence Disciplines
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Best-In-Class Geocoding• 122 Countries at Point and Street Level
• 240 Countries and Territories at Postal and Place Level
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Enterprise Tax Module
Spectrum® Spatial Capabilities
Spectrum Spatial for BI
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Global Reference and Vertical Spatial Data
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The PBS Enterprise GIS SuiteDesktop
Professional
Web
Mapping
Stratus /
Exponare
Server
Mapping
GeocodingAnalysis
Geometry Routing Bus Data
Integration &
Quality
Catalogue
and
Discover
Suite
Content
Manager
Web Services (SOAP/REST/OGC)
Enterprise Data Sources
PBS Spatial Data Packs Spatial Databases Business Data
RIA Controls Data Integration
Address
Management
Engage 3d
Route Finder
Pro SDK (MapBasic, .Net, C)C
rim
e P
ro
file
r
Dis
co
ve
r
Edit
Grid
Spatial Data Quality
Grid
Mobile
Tablet Pro
Mobile RIA
SDK
MapXtreme
.Net
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PBS Data & Location Intelligence Platform
Data Intelligence
ValidationCleansing
Enrichment Aggregation
Location Intelligence
Visualization
Address ValidationUS Geocoding
International Geocoding Hazard Data
Custom Enterprise Web MappingDesktop Mapping
Desktop with Shared Maps Partner Enabled Mapping
Risk Data
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Benefits of LI: Fire Forecast
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Benefits of LI: Fire Danger Zones
Case Studies
In Insurance
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Case Study: Event Notification
Overview
• Access real-time with feeds – Environment
Canada, WSI, etc.
• Determine policies with storm track
• Communicate with policy holders via phone,
email or SMS
• Result – reduce potential claims impact,
increase customer satisfaction
“The response of the market to i-aXs has been outstandingly
positive, as insurers see the benefits that real-time visualization
can bring to their decision-making process”
Ryan Ogaard, Managing Director and Global Leader of Guy Carpenter’s Instrat® unit
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Case Study: Claims Triage
Overview
• Access projected storm path from NOAA
• Spatially query the policy management
system and determine probable losses
• Allocate the required number of adjustors /
inspectors
• Deploy them optimally
• Result – reduce claims cycle-time and
improve customer service
“We were able to provide initial estimates of exposure and
potential loss before the storm even hit the shore and then
validate these through their on-site inspections.”
Brian Haney, Vice President, Chief Actuary, James River Insurance Company
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Case Study: Adjustor Routing
Overview
• Aggregate and track claims geographically
• Optimally assign adjustors based on workload
and location
• Equip adjustors with the location of claim and
driving directions
• Result – Increase adjustor efficiency and
customer service
“Using Pitney Bowes makes it easier on the adjusting staff
because it ensures that all their appointments are efficiently
assigned within a geographic area”
Debby Nichols, Manager of Business Intelligence, Germania
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Spectrum® Spatial Analyst At-a-
Glance
o An out-of-the-box web
mapping solution
o Allows users to:
View
Share
Query
Understand
o Both business and spatial data
o On their favorite browsers
• Click to add text
• Click to add text
• Click to add text
• Click to add text
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The location imperative
• 80% of business data has a location component
Static
– Addresses of customers, stores,
all assets
Dynamic
– Transactions
– Demographic and behavioral analysis
– Real-time presence sensitivity
• Answers fundamental BI questions
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Growing recognition of importance
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And yet … it is under utilized
“In virtually all BI implementations today,
location information isn't ignored, but it is pretty
much used exclusively as a descriptive attribute
or very coarse-grained and often static
dimension.”
Andreas Bitterer, Gartner, 2012.11.23
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The tide is turning
▪ Geospatial analysis in BI will double
by 2016(The Data Warehouse Institute, December 2013)
• Vendors are stepping up
BI platforms adding geoanalysis/LI
GIS tools offering platform-specific
solutions
Consumer mapping and SaaS
Commercial-grade, standards-
based solutions
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Location Improves Business IntelligenceVirtually every organization:
Measures performance (sales, cost, people) and analyzes customer and prospect targets by geography.
Markets by geography.
– Target market identification, customer segmentation, merchandising planning
Plans by geography
– Network build-out, store trade area analysis, market penetration analysis.
Assigns assets by geography
– Services management, law enforcement resources, engineering resources, territory assignments.
Tracks resources by geography
– Analyzes customers and support needs by sales territories, asset management, and utilization.
Manages services by geography
– Customer service, financial services, field repair services.
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Product Description
• Spectrum Spatial for BI is an application
interface between eight different BI
systems, plus Microsoft Excel, and
Spectrum Spatial.
• The result is a visual, geographic
representation within a BI report using an
interactive mapping interface and tools to
manipulate the data and map.
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BI Server
Business Data Integration
Platform
Spectrum Spatial
BI Dashboard Browser
BI Data
Boundaries and Street Data
Reference Data
Tablet / Mobile
Floor Plans Demographics
Spectrum Spatial for BI
Risk Visualization
A Demo
Risk Aggregation
A Demo
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Get a Copy of Our Risk Whitepaper