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RiskMeter Online Newsletter
January 2012

Members of TMPAA, NAPSLO, AAMGA, CIWA, FAIA

 AAIS - Risk Information Services Partner 

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In This Issue

Featured WebEx: Tips & Tricks Refresher Course

TX Wildfire Report

NAVTEQ Geocoding Solution Now Available

Crime Report Update

2nd Data Source Added to Building Characteristic Report

New Alaska Reports

Tech Tip: Manual Placement

KY Tax Codes & Other Premium Tax Code Reports

TX Designated Catastrophe Areas

Online Training Schedule

Upcoming Events

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Issue: # 1

January 2012

 

Get the Most Out of Your Investment! Register for RiskMeter's Tips & Tricks Training Refresher WebEx

Since we're continually adding new tools, reports and data to the RiskMeter Online, it's fairly easy for new and existing customers to fall behind.  In order to help people use RiskMeter to its fullest extent, we've scheduled a series of free online training sessions.  These training sessions will cover various topics, including:

  • Manual Placement (Patented!)
  • One-Click Ruler
  • Aerial overlays (Great for Flood, Brush and other reports)
  • Navigating our hazard maps and aerial photos
  • New features and reports
  • Understanding geocoding
  • Who to call if you forget/lose your password
  • Online Batch Processing
  • Customization options

Our goal is to help new users to become completely comfortable with RiskMeter, as well as educate regular users on the latest reports and features that we've added.  We've scheduled sessions for the following days.

  • Wednesday, February 15, 2012 at 2pm (EST)
  • Wednesday, March 14, 2012 at 2pm (EST)

Registration
We have a limited number of seats for these events! To secure your spot, please visit our registration page

Private Training
If you have several users and would like to schedule a private training session, please contact Monique Audette, Customer Service & Training Consultant, RiskMeter at 857.246.6662 or Email

 

 TX Wildfire Report Coming Soon!

Although wildfire risk is associated mostly with western states, more than 40% of all wildfires in 2011 occurred in Texas.  The 2011 Texas wildfire season has been the costliest season on record and is responsible for burning nearly 4 million acres and more than 5,700 structures.

 

Due to your feedback, we're going to be adding a TX Wildfire report to our service.  Currently, this report covers 14 states, including AK, AZ, CA, CO, FL, ID, MT, NM, NV, OR, SD, UT, WA and WY.  When our TX wildfire report is complete, you will be able to process new business, as well as run your existing book in batch.  This will allow you to gauge your current risk and plan for the future.  For more information, please contact Daniel Munson, Founder, RiskMeter Online at 617.737.4444 or Email 

 

NAVTEQ Geocoding Solution Now Available!

Address placement plays a vital role for underwriters and agents who leverage automated underwriting solutions. If you can't accurately locate an address, you really can't do very much.  The RiskMeter Online has made it a priority to provide the best geocoding solutions available. By using multiple geocoders, we have the highest accuracy rates of anyone.

We're proud to announce that we've reached an agreement with NAVTEQ to add their premium geocoding solution to our service.  We have now fully integrated NAVTEQ's geocoder into RiskMeter and have added another 100 million parcels (in addition to 100 million plus parcels we have today) to our service.  This will not only increase our parcel coverage, but will increase our accuracy and hit rate with our street coverage as well.  We believe that this further extends our geocoding advantage over any other solution.

To have this added to your account, or for more information about our geocoding solutions, including parcel level, street level, manual and birdseye (aerial) photos, please contact Daniel Munson, Founder, RiskMeter Online at 617.737.4444 or Email

 

Update: Crime Report 

CDS has just updated RiskMeter's Crime Report. This report is updated twice a year, and it's based on FBI Uniform Crime Reporting Statistics (UCR) and demographic clustering, to estimate crime rates for very small areas (census block groups).  The latest update includes new data from 2011.  For users who aren't familiar with this report, all you need to do is enter an address and it will return 10 crime scores for a given location and within 1/2 and 2 miles.

Many of our customers have found this report to be very useful when writing commercial and residential property, by identifying high risk areas prior to instituting coverage.  Some of the areas our customers found this to be most helpful, include: habitational properties, bars/taverns, vacant buildings and crime coverage.

For more information or to test drive this report for two weeks, please contact your account executive at 617.737.4444

 

2nd Data Source Added to Building Characteristic Report

We're proud to announce that a 2nd data source has been added to RiskMeter's Building Characteristic Report.  This additional source will provide seamless coverage if our current data provider is experiencing an outage or if they can't return all of the necessary information.

The importance of building characteristics can be felt throughout the insurance industry from Reinsurers all the way down to Brokers.  When building characteristic information isn't provided, it's common for year built, number of stories, roof shape, etc., fields to be labeled as "unknown" during the modeling process. This incomplete information directly affects Reinsurers, Carriers and Brokers. Article

Many carriers have begun to pre-fill this information at the point of sale as well.  Since this information has already been verified, it empowers agents to write more business.  With RiskMeter Web Services, insurers can pre-fill crucial building characteristic and other property information at the point of sale now. 

For more information about RiskMeter Web Services or to have this 2nd data source added to your account, please contact Daniel Munson, Founder, RiskMeter Online at 617.737.4444 or Email

 

New Reports: Alaska Shoreline, Wildfire & Fire Districts

In order to help our users make better underwriting decisions, RiskMeter has made it a priority to add the latest data and reports.  We're proud to announce that we're going to be adding the following three risk reports for the state of Alaska.

Distance to Coast - It's now possible for insurers who write business in Alaska to check the distance to coast based on the address entered.  In addition, we can also customize the coastline based on your definitions and set the distances to check (i.e. ½ mile, 1 mile, 2 miles, etc) as well.

Responding Fire Districts -
This report will return the county & community name for the address entered. We're providing full coverage for Anchorage, Fairbanks, Kenai, Matanuska and Juneau CountiesOther counties maybe added as needed.

Wildfire Areas (Coming Soon)
- We've taken detailed vegetation data and classified the fuels by burn potential.  The burn potential will be separated into four classes from very low to high. We are providing partial coverage based on population centers.  Some of the areas of coverage include: Anchorage, Juneau and Fairbanks North Star.

For more information about these reports, please speak with your account executive at 617.737.4444

 

Tech Tip: Manual Placement - A Patented Feature

Did you know when the subject marker is not in the exact location you can move it to the correct spot?  RiskMeter's patented manual placement feature allows you to move the subject marker anywhere on our GIS maps and aerial photos.   In addition, this feature will also automatically re-run all of the selected reports as well. This will give you a high level of accuracy for any report.

To use RiskMeter's manual placement feature all you have to do is click the manual placement radio button (located above the map), then right click on the spot on the digital map or aerial photo where you want to move the subject to. You will only need to click once and within a few seconds the map will redraw itself, and your results will automatically recalculate themselves based on the new location.  To learn more about this feature, check out our brief WebEx demonstration below!
 
To view our manual placement WebEx demonstration, please go here

**Note - If you don't have WebEx on your computer it will ask you to download it.**

If you have any questions about this feature or you are having a hard time viewing this demonstration, please contact Monique Audette at 617.737.4444 or Email

 

Kentucky Tax Codes & Other Premium Tax Code Reports

In August of 2009 RiskMeter's Kentucky Tax Database was verified by the Kentucky Department of Insurance.  This report was created in response to Bill HB 524, which requires insurers to use a verified electronic risk location system to assess premium taxes by January 1, 2010.

We would like to let our users know that we can also return historical data and effective dates for this report as well.  Despite best intentions, assigning policies to the wrong tax jurisdictions has been a major issue for insurers who write business in Kentucky, and has resulted in class action lawsuits, as well as insurers having to pay fines due to over/under charging for premium taxes. The RiskMeter Online leverages the latest geocoding technology to enable users to assign the correct premium tax code, city code, city name, county, fips code and much more to each policy by simply entering an address.

Premium Tax Code Reports
Certain states, municipalities, counties and fire districts have set up premium taxes that must be collected and reported by insurers. These taxes require insurers to report to the state the total premiums for each jurisdiction code.  The RiskMeter Online can accurately reflect the boundaries of each jurisdiction through the use of geocoding technology.

In addition to providing tax reports for Kentucky, we also provide reports for AL, DE, FL, GA, IL, LA, NJ, NY, SC and TX. For more information, please contact Daniel Munson, Founder, RiskMeter Online at 617.737.4444 or Email

 

TX Designated Catastrophe Areas

The 70th Texas Legislature passed House Bill 2012 (codified as Article 21.49 Section 6A, Texas Insurance Code), which implements certain inspection requirements, for structures to be considered insurable property for windstorm and hail insurance through the Texas Windstorm Insurance Association (T.W.I.A).  Our GIS Analysts have just digitized the TX Designated Catastrophe Areas.  By simply entering in an address, insurers can see if a policy falls into a Seaward of Intracoastal Canal, Inland (I) of Intracoastal Canal or Inland (II) of Intracoastal Canal and properly apply credits.  For more information, please contact Daniel Munson, Founder, RiskMeter Online at 617.737.4444 or Email

 

Online Training Schedule  

In order to help you utilize the RiskMeter Online more effectively, we are now offering complimentary training to all of our customers.  This is a great way for your organization to have its most pressing questions answered, learn about the latest risk reports and discover how to utilize cutting-edge features, such as: Birdseye Geocoding, One Click Ruler and Manual Placement

 

To attend any of the complimentary training sessions, please register here

National Risks
Wednesday, January 25, 2012 at 2pm (EST)

Western Risks
Wednesday, February 1, 2012 at 2pm (EST)

National Risks
Wednesday, February 8, 2012 at 2pm (EST)

RiskMeter Tips & Tricks Training
Wednesday, February 15, 2012 at 2pm (EST)

Western Risks
Wednesday, February 22, 2012 at 2pm (EST)

National Risks
Wednesday, February 29, 2012 at 2pm (EST)

RiskMeter Tips & Tricks Training
Wednesday, March 14, 2012 at 2pm (EST)

 

Upcoming Events - Meet the RiskMeter Team

RiskMeter Online will be attending or exhibiting at the following upcoming conferences. Whether you're a customer or prospect, we'd love to meet with you onsite at these exceptional events!  Don't hesitate to stop by our booth or if you wish to schedule an appointment, please contact Dan Munson (Email) or Brad Sherwin (Email ) at 617.737.4444  

Celent 2012 Insurance Innovation & Insight Day  
January 26, 2012 * Boston, MA

Reinsurance Association of America CAT Modeling

February 14-16, 2012 * Orlando, FL

Napslo Mid-Year Leadership Forum
February 29- March 3, 2012 * Scottsdale, AZ

AAMGA Automation
March 3-6, 2012 * Atlanta, GA

AAIS Main Event
April 15-17, 2012 * La Jolla, CA

PCI Joint Marketing & Underwriting Seminar
April 22-24, 2012 * Coronado, CA

Target Markets Mid-Year Meeting
April 30- May2, 2012 * Boston, MA 

 

 

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