HERE Technologies, a global leader in location platform services, today announced that HazardHub, the nation’s recognized leader for high quality geospatial risk analysis for the Property & Casualty insurance market, will utilize HERE Geocoding, Routing and Map APIs to enhance the industry’s property risk models for flood, fire, earthquake and disaster coverage.
Precise location accuracy is key to determining the risk profile of a property and HERE Geocoding converts street addresses in 108 countries into highly accurate GPS-coordinates pinpointed to the HERE map and vice-versa. A miscalculation by just a few meters can dramatically change the results in some instances. For example, knowing a home is 200 feet away from a coast instead of only 50 feet away from the coast will impact pricing. It’s the HERE Geocoding that allows insurance carriers to accurately locate properites on a map, then do a spatial analysis to detemrine the risk of a natural disaster
“Being able to accurately pinpoint the location of a home on complex and evolving terrain is core to an insurance company’s livelihood. We’re so glad that HazardHub has turned to HERE Location Services for high-precision mapping of geo-coordinates and addresses,” said Jason Bettinger, Head of Insurance at HERE Technologies. “Not all geocoding is created equal. Success hinges on quality, precision/accuracy and coverage and HERE’s geocoding services deliver on these points exactly. We look forward to watching HazardHub deliver for customers by leveraging our offering.”
"After an incredibly in-depth analysis, we made the move to HERE for all of our geocoding and routing needs,” said Bob Frady, CEO of HazardHub. “While we were cautious about the initial switch, we could not be happier with our choice. HERE delivers the best available combination of accuracy and cost-effectiveness. We're excited about the partnership and look forward to being able to continue to grow our capabilities with HERE."
About HERE Technologies:
HERE, the Open Location Platform company, enables people, enterprises and cities to harness the power of location. By making sense of the world through the lens of location we empower our customers to achieve better outcomes - from helping a city manage its infrastructure or an enterprise optimize its assets to guiding drivers to their destination safely. To learn more about HERE, including our new generation of cloud-based location platform services, visit http://360.here.com and www.here.com.
HazardHub is the only third-generation provider of property-level hazard risk databases. Our team of scientists translates huge amounts of geospatial digital data into easy-to-understand answers, providing risk assessments that can be used to make real-world decisions. HazardHub provides comprehensive, national coverage for risks that destroy and damage property, including perils from air (wind, hail, tornado, lightning), water (flood, coastal storm surge), earth (earthquake, brownfield, Superfund) and fire (wildfire and fire protection.)