Insurer calculates risk using TimeTravel data

A customised TimeTravel application using lists of fire stations enhances underwriting accuracy

Finding out how far you are from a fire station helps assess fire risk. A business insurance provider used Beacon Dodsworth's customised TimeTravel solution to obtain accurate answers.

See how TimeTravel drive time data can help you
Call  01904 701020, complete   or 

The challenge

The client needed to assess the fire risk when preparing underwriting quotes, taking into account the distance to the closest fire station, as well as the type of fire station for every postcode in the UK.

The solution

Beacon Dodsworth prepared a dataset for use in risk assessment models.

Fire stations

Each fire authority has to produce lists of their fire stations. These lists must be published. The published data is available in many different formats. It took a mostly manual process to gather, check and clean the fire station lists. Where possible the working type of the fire station was recorded; whether full-time, part-time or volunteer firefighters were on call.

Care was taken in noting new stations and station closures.

Drive time and distance

The standard road network used for TimeTravel drive times is not dense enough for postcode analysis. Therefore the drive time and distance calculations are based on HERE (Navteq) road data

Processing

A customised version of Prospex GIS is used to generate the driven time and distances. Prospex will generate for each postcode the closest two fire stations based on driven time.

Delivery

The final data tables are delivered in an access database format. The whole process is repeated on an annual basis to reflect changes in the fire stations, updated postcodes and changes to the road network.

Map of TimeTravel drivetimes from fire stations

The benefit

More accurate risk assessment models meant insurance premiums reflected the actual risk and the client could plan their business more effectively.

For a customised TimeTravel solution
Call  01904 701020, complete   or 

 

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