It's Not About Technology for Technology's Sake. It's About Solving Real Problems.
The insurance industry is awash in buzzwords: AI, machine learning, big data, digital transformation. But what does it all mean in practice? How are these technologies actually being used to improve underwriting, pricing, claims, and customer experience?
At Chimnie, we believe in cutting through the hype and focusing on real-world results. We're not interested in technology for technology's sake; we're interested in solving real problems for our clients.
Here are a few examples of how our granular property data is driving innovation in the UK insurance market:
Predictive Flood Risk Assessment: A leading insurer is using our property-level elevation data and flood risk models to predict the likelihood of flooding before it happens. This allows them to:
Price policies more accurately, reflecting the true risk of each property.
Offer targeted risk mitigation advice to homeowners in high-risk areas.
Reduce claims costs by proactively addressing potential flood hazards.
Automated Rebuild Cost Calculations: A major home insurer is using our data to automate the calculation of rebuild costs, taking into account current material prices, local labour costs, and property-specific details. This has:
Streamlined the underwriting process, reducing manual effort and errors.
Ensured that policyholders have adequate coverage to rebuild their homes after a total loss.
Improved customer satisfaction by providing transparent and accurate pricing.
Enhanced Fraud Detection: A specialist insurer is using our data to identify patterns and anomalies that indicate potential fraud, such as:
Inconsistencies between reported property characteristics and our data.
Multiple claims for the same property within a short period.
Properties located in areas with a high risk of fraud.
The Results Speak for Themselves:
These are just a few examples of how Chimnie's data is being used to drive real, measurable improvements in the insurance industry. Our clients are seeing:
Reduced claims costs.
Improved underwriting accuracy.
Faster, more efficient processes.
Enhanced customer satisfaction.
Greater profitability.
It's Time to Get Real
Stop chasing the latest buzzwords and start focusing on the fundamentals: accurate data, intelligent insights, and real-world results.
Ready to innovate? Contact us at hello@chimnie.com to learn how Chimnie's property data can transform your business.
