We are very pleased to announce the launch of the full version of the INFORMER database on the RISCAuthority website – a data tool to assist insurers with risk control provision and pricing which is available exclusively to RISCAuthority members. To access the database members must log-in and go to the Insurer Resources menu and click on Insurer Toolkits.
Following feedback from the BETA release it has changed substantially to include many more datasets, much improved UK coverage, a new probabilistic FRS response model (available November), and a comprehensive statistical analysis of all fields to assist with interpretation. The web tool has also been augmented with a field selector tool and the ability to custom-build reports in PDF format to the user’s required content. There are currently around 450 fields of active data divided into the 16 selectable high level fields of:
- Postcode Context: Basic information about the postcode and location to Geographical and Authority boundaries
- Infrastructure: Proximity of man-made and geographical features to postcode
- Crime: Statistics in and near postcode by each of 16 reporting categories
- Traffic accidents: Traffic accident in and near postcode by each of 3 reporting categories
- Flood: Flood zones touching postcode area
- Environmental & Conservation Protection: Environmentally sensitive areas touching postcode area
- Mining, Landfill & COMAH sites: Potentially hazardous areas in or near postcode area
- Power Grid: Main electrical and gas supplies in or near postcode area
- Heritage: Heritage buildings categorised within postcode area
- Earthquake: Historic earthquake occurrences categorised by strength in and around postcode area
- Banking: Banking premises in and around postcode area
- Built Environment: Government and recreation buildings in and around postcode area
- Weather: Historic weather data at postcode
- Fire Service Intervention, resource and policy: Fire service delivery to postcode, water availability, and AFA policy
- Indices of Deprivation: Government data of deprivation categories for postcode against population
- DATASET STATISTICAL ANALYSIS: Comprehensive analysis of all fields to assist user understand where postcode data sits within the entire dataset population.
This data has been encapsulated to each of of the UK’s 1.8 million postcodes making a combined dataset of nearly one billion pieces of information.
Due to the different spatial relationships between postcode boundaries and postcode centroids - the loci of our data resolving, and property locations - point of risk interest, it is recommended that the database should be used for the ‘prompting of further investigation’ rather than the execution of direct actions. For example, where postcode areas are large, a flood risk may be highlighted but it’s relevance to the property in question will depend upon; the extent of overlap of floodplain and postcode, and the property’s precise siting within that postcode boundary.
A database such as this can have many uses and presents great opportunity for some lateral thinking exercises. At the simplest level, without visiting a client’s site, the database will give insight into potentially relevant factors that might otherwise be missed. At a more complex level, multiple pieces of data considered together will indirectly paint fuller pictures of the location that no single piece of information delivers. Insurers can extract greatest benefit from the tool by creating algorithms that combine this information with risk factors appropriate to the client’s business and the insurer’s own loss experience data.
Inevitably we are now looking forward to the next release and have already compiled a backlog of newly acquired datasets that will be incorporated on an ongoing basis. The development of this tool is the responsibility of RISCAuthority’s Intervention & Monitoring (I&M) Working Group.
To download an example PDF dataset from INFORMER please click here > SW6 1HS
A webinar will be held on the functionality of the INFORMER database at 11am GMT on Friday 27th November 2015. The session will be hosted by Dr Jim Glockling and will last 45 minutes. Invitations will be sent out in due course to all subscribing members.