By: 26 April 2023
LexisNexis Risk Solutions releases basement, tree and windstorm datasets

LexisNexis Risk Solutions has launched a new suite of geospatial intelligence datasets for the UK and Ireland insurance market to address weather-related challenges associated with basements, trees and windstorms.

The new geospatial intelligence datasets from the data, advanced analytics and technology provider help identify customers at most risk from imminent or future basement flooding, as well as tree- and wind-related storm damage and subsidence.

LexisNexis Basements Indicator identifies whether a basement or an underground level may be present in a home or a commercial building, while Bluesky International’s National Tree Map (NTM) helps insurers understand the location, canopy cover and height of trees that are three metres and taller in the proximity of the properties they are insuring.

LexisNexis Windstorm Model helps to predict the maximum wind gust speeds as a better predictor for property and structural damage compared to sustained wind speeds.

Caroline Elliott-Grey, product manager for the UK and Ireland at LexisNexis Risk Solutions, commented: “Property insurance providers need to plan how they will map the long-term impact of climate change on their books of business. They can start now with LexisNexis Basement Indicator, NTM and LexisNexis Windstorm Model together with more than 40 additional data sets, including perils data down to an individual address.

“We are making it as easy as possible for insurance providers to access this data at point of quote via LexisNexis Informed Quotes and for more detailed risk visualisation through LexisNexis Map View—our cloud-based geospatial data visualisation tool.

“More data means more granularity and spatial accuracy in the predictions, allowing for more accurate pricing, as well as the crucial ability to better manage risk as events unfold.”

Image: © dontree_m via Canva