For realtors, it's all about location. It's also true that insurers can benefit from understanding the geographic dimension of their data.Writing flood insurance policies is one common way that insurers have applied geographic information systems (GIS), but a new report suggests there are other areas where the technology can be applied to benefit carriers.
"Using geography as a key to insurance information can yield efficiencies in many aspects of insurance," states a new report from TowerGroup, Needham, Mass. "When more data and information are made available to the mix in any insurance transaction, better decisions can be made, costs can be better controlled, and profitability can be increased."
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