Commercial insurer improves risk assessment tool

Thu, 15 Jan 2009

Commercial insurer RSA and owner of More Th>n has enhanced its Geographical Risk Assessment (GRA) model and will now include over 100 updated features. It will also take into account newly constructed flood defence schemes .

The GRA tool is used to assess the risk of arson, crime, flooding and subsidence and gives a risk score for each peril at an individual property level. The GRA system grades all properties into one of five risk categories from negligible through to extreme for each peril.

Rob Osment, GRA Manager at RSA, said, "Our tool has long been considered in the industry as a highly effective and innovative way of assessing risk and the recent changes ensure we are up to date with geographical developments. By using the new model we will continue to be able to compete for new business more effectively in areas where other insurers will find it difficult to be as selective."
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