Tag Archives: risk scores

SiteIQ: More Power and Control for Your Underwriters

If on-the-ground underwriters can get risk insight instantly – and can make a quick check simply by entering a location rather than waiting for a risk analyst or trying to gather public data themselves, it has the potential to radically improve underwriting performance. We are seeing this change beginning to happen with SiteIQ, a recently launched application that utilizes the RMS open platform – Risk Intelligence™.

SiteIQ uses our trusted risk model data – the same data used across a client’s organization, to deliver hazard risk scores instantly for a location, to help underwriters make better decisions on whether to reject, accept or refer a risk for further analysis. Using the same risk data throughout means that new risks reflect a business’s acceptance criteria, bringing harmony to the book of business.

By making SiteIQ quick and simple to use, underwriters see it as a useful tool in their armory, knowing they can get valuable, modeled risk insight whenever they need it. The breadth of the instant insight adds to its usefulness, covering many available perils, with outputs including risk scores, loss costs – all presented in a highly visual, intuitive app.

We keep going back to users to find out how they are using SiteIQ and what they would like to see in terms of developments. And, in its first few months since launch, thanks to client feedback, RMS has now released the third iteration since launch – SiteIQ version 1.3.   

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SiteIQ: The Power of Now

The democratizion of risk data is a core mission for RMS; to provide relevant, timely risk insight to everyone who needs it, designed for every role in the business, from those on the frontline of underwriting, through to those responsible for the entire portfolio. Delivered through simple, elegant applications, by ensuring relevant data gets to every area of a business you can build empowered teams that can take effective decisions.

SiteIQ is a great example of this data democratization in action. This application pulls property results from RMS catastrophe models – and supported by qualified third-party data such as crime scores and fire protection measures, it provides an understanding of which hazards are applicable for each location at the point of risk-selection. Risk scores from one to ten, red-amber-green referral advice, high resolution hazard maps, and loss cost data – is all delivered in seconds.

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