11 blog posts tagged "Rooftop Geocoding"

84% of customers say the experience a company provides is as important as its products or services, according to a Salesforce report. Over the past decade, the insurance market has become saturated with endless products and options. Buyers have adjusted and evolved in response to the buffet of insurance options, becoming more sophisticated and specific in what they need and want. To keep these sophisticated buyers at your insurance smorgasbord rather than the other guys’, it’s essential to understand their new and improved expectations.

We had a sit-down with Smarty crew members, Caroline Roweton, Associate Product Manager, and Landon Fackrell, Software Engineer, and delved into Smarty's innovative new Excel plugin. This powerful tool makes address validation easier than ever, allowing users to clean and verify their address data directly within Excel. With a focus on simplicity and efficiency, Caroline and Landon talked about the features and benefits of the plugin, demonstrating how it can save time and enhance data accuracy without any need for coding.

Insurance customers expect quick and customized service and immediate responses in their interactions. Smartphones, online transactions, and digital communications rule the world. Yet, the policy issuance for insurance can be extremely slow and painful. This is due primarily to the fact that accuracy matters so much regarding customer data, and this data takes a while to curate and process. So, how do insurers streamline claims processing while maintaining the highest accuracy levels?Speed and ease go togetherThe quick answer is "automation and digitization.

For underwriting efficiencies and commercial insurance success, the accuracy and reliability of data are crucial. Accurate data improves the risk assessment process and optimizes the overall workflow, saving both time and money. Leveraging Smarty's high-quality address data solutions, precise rooftop geocoding, address verification with PUIDs, and address autocomplete provides a significant advantage in improving insurance underwriting processes. The significance of a single rooftop geocoding vendorTraditional geocoding cascades pose challenges.

The U. S. homeowner’s insurance segment is facing unprecedented challenges, marked by the worst underwriting results since at least 2000. According to a recent report by AM Best, the segment experienced a staggering $15. 2 billion underwriting loss in 2023, more than double the losses seen in the previous year. They credit this dramatic increase in insured losses primarily to population migration into areas where weather-related events occur more frequently, coupled with rising urbanization and development in regions susceptible to natural perils.

In a recent webinar, Berk Charlton, Chief Product Officer at Smarty™, provided an in-depth look at our industry-leading address intelligence suite designed to provide highly accurate geocoding and address validation. Here are the main points Berk covered during the session:Comprehensive product suite: Smarty offers a wide range of products, including address validation, rooftop geocoding, global address auto-complete, and address data enrichment. These tools are designed to handle various aspects of address management and enhancement in industries from Insurance to Healthcare to Telecom and more.

In the fast-paced and competitive world of telecommunications, where high customer expectations and intense rivalry prevail, the strategic use of address data intelligence, including geocoding and address verification, is increasingly essential. For professionals in the telecom sector, understanding and utilizing these tools can significantly streamline operations, enhance customer satisfaction, and drive business growth. This article delves into how Smarty's address data solutions address common pain points in the telecom industry.

Geocoding is converting a physical address into geographic coordinates with latitude and longitude. Accurate geocodes are critical for many applications—routing deliveries, analyzing insurance risk, mapping utilities, and more. In a recent webinar, Smarty's customer service specialist, Ben Rivera, outlined best practices for maximizing geocode accuracy using our APIs and tools. Here are some of the key takeaways:The problem of inaccurate geocodes Many common geocoding services provide ZIP Code or centroid-level accuracy at best.

In the wake of disasters like catastrophic weather events, wildfires, and other incidents, the significance of property and casualty (P&C) insurance claims agents and adjusters becomes essential. Their role is pivotal, yet often challenging, as they navigate the aftermath to assess damages, estimate repair or replacement costs, and process insurance claims. Claims agents and adjusters often face difficulties deploying to areas affected by disasters and obtaining accurate information amid chaotic circumstances.

Smarty™ has been creating top-notch address data tools since it's inception in 2011. A key part of providing the best location data and address data tools in the world is keeping those products at the cutting edge of the industry. We do this by adding new features, products, and solutions that our customers can use to improve their lives as often as we can. In a recent webinar, our Chief Product Officer Berk Charlton outlined some of the newest features we've added to our US Rooftop Geocoding tool.

Without looking it up, do you know how much insurance losses natural catastrophes caused in 2022? What's your guess? According to a report published by Swiss Re, the world's leading provider of reinsurance, "Natural catastrophes caused an estimated USD 115 billion of insured losses in 2022—coming in well above the 10-year average of USD 81 billion. " A number that large, leaves a lot of room for improvement. One of the biggest challenges insurance providers face is accurately predicting where and when these devastating disasters will occur so that they can take appropriate measures to mitigate losses.