LexisNexis Risk Solutions has acquired Mapflow in an attempt to help commercial and home insurers better understand geographic peril risk at the property level.
LexisNexis says Mapflow is a geographic risk assessment technology company with software that complement the data, analytics, platform and linking capabilities offered by LexisNexis. With the acquisition, LexisNexis looks to help insurers make more informed underwriting decisions and better manage their portfolio exposures.
It also enables LexisNexis to offer a more comprehensive risk assessment and underwriting solution that enables insurers to identify geographic risk at the property level (peril and accumulations); simplify their underwriting process by bringing multiple property-based risk factors into a single view; and reduce exposure to high-risk properties and claims costs, says the company.
