Boston-based
In order to provide users with a better idea of crime risk for the overall area, RiskMeter now returning statistics for 0.5- and 2-mile radii in its reports. This extra data is designed to enable RiskMeter users to get much more insight into crime levels for the neighborhoods surrounding a policy. By simply typing in an address, it’s possible to get 10 crime scores, including an aggregate crime score, violent crime scores (murder, rape, robbery, assault) and property crime scores (burglary, larceny, vehicle theft).
RiskMeter’s Crime report currently returns data on just the Census Block Group in which a property is located, which generally contain between 300 and 3,000 people (with an optimum size of 1,500 people). These are very small areas, but CDS says that they help insurers to understand crime risk in a specific location.
“The main benefit of RiskMeter’s crime report is that it allows insurers to identify high risk areas prior to instituting coverage on residential and commercial property,” says RiskMeter Online Founder Daniel Munson. “By returning additional information about surrounding neighborhoods, we can help underwriters and agents to dig deeper and ask crucial follow up questions.”
Munson adds that many of RiskMeter’s customers have found this report helpful when writing industrial park buildings, habitational risks, bars/taverns, vacant buildings and crime coverage.
