In order to be able to assess and calculate risks accurately, insight into the physical and location-related characteristics of buildings is worth its weight in gold to an actuary. That is why various insurers have already commissioned GIM to enhance their address files.
The portfolios of insurance companies contain hundreds of thousands of addresses in Belgium. Enhancing them with detailed information on the relevant properties – area, height, building type and distance from neighboring buildings – can provide actuaries with a wealth of relevant information. In order to do that, GIM linked data from a variety of its sources to the insurers' portfolios.
First of all, data was added to the address files from GIM's BelAddress, a database containing the exact geographical location of every address in Belgium, down to the level of the individual building. In order to add the physical characteristics of each property to those positions, they were then linked to the 3D building layer from GIM's BelMap.
For the largest cities in Belgium, the enhanced portfolios contain the exact geographical position and material characteristics for each address, down to the level of the individual building. For other areas, they contain the building block. With this information, insurers are able to carry out their actuarial studies, including the accumulation of risk for insurance applications, faster and more accurately.
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