Insurance quoting is made easy with Geoscape

What happens when someone requests a home insurance quote? They get asked lots of questions about their property.

This allows the insurer to determine the level of risk and accurately calculate an estimate.

Before confirming the price of a quote, there are various property questions insurers typically need to ask. These include:

  • Is the building single or multi-storey?
  • Does it have solar panels or a swimming pool?
  • What material is the roof constructed from?
  • Is the building built on sloping land?

Any of these factors could reduce or create insurance risk, and therefore influence the quote provided.

Some of the property questions would be simple to answer. For instance, if a homeowner was asked whether they have solar panels or a swimming pool, they would be able to respond immediately.

But would they know what material their roof is made from? Maybe not. Such a question may require further investigation.

Some people may even take a guess when answering and end up providing incorrect information, which could lead to a claim dispute and create expensive problems in the future.

Either way, asking these basic questions wastes time – for both insurers and homeowners. This is where Geoscape’s value really comes into play.

Geoscape is a new national building-level data set – available through MapData Services – that captures many of the essential property attributes needed when putting home insurance quotes together.

Insurers can then work proactively instead of reactively, and rather than requesting specifics from homeowners, they can simply confirm the listed information for that particular property. For example:

  • Your house is six metres tall and two storeys
  • It has a tile roof with a solar panel
  • You have a swimming pool
  • It is built on flat land

This process saves time, ensures accuracy, and creates a better overall service experience.

In addition to the benefits it offers insurers, Geoscape has also been developed to assist with work in a range of other industries, including emergency services, property development and local government.

If you’re interested in finding out more, I encourage you to take a look at our recent Geoscape webinar, which discusses the data set in greater detail.

We also offer numerous other data sets and solutions that help to drive operational efficiencies and create improved customer interactions, so contact us on +61 2 8436 2800 to find out how we can help you.