Risk Accumulation Tool

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It is essential that insurers assess risks and exposures accurately and make informed decisions that maximize underwriting performance and minimize claims. Beyontec’s Risk Accumulation Tool is a must-have for insurance companies looking to review and analyze exposure across those risks already insured or those being considered for coverage.

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Product Highlights

The Beyontec Risk Accumulation Tool enables insurers to accurately review, analyze, and underwrite individual and accumulated risks by building, street, area, city, or country before making business decisions on new quotations and policies.

Effective Analysis & Control of Risk Exposure

  • Beyontec’s Risk Accumulation Tool helps insurers evaluate the existing risk in any location before accepting additional exposure. Effective loss and exposure control mechanisms can be implemented based on data provided by the Tool.

Visual Representation using Maps

  • Beyontec’s Risk Accumulation Tool uses the addresses and geographic codes of each risk to provide the overall exposure in a defined area. Data is presented to users in a pictorial map with optional parameters for more precise analysis.

Effective Loss Control

  • Beyontec’s Risk Accumulation Tool helps insurers determine the existing risk in any location before insuring additional or new risks and implement effective loss and exposure control mechanisms.

Geocoding of Risk Underwritten

Beyontec’s Risk Accumulation Tool uses geo-coding to pin point the exact locations of all risks. This feature allows insurers to assess risk clusters in highly susceptible areas like seismic zones, flood plains, and coastal areas.

Location and Risk Based Threshold Configuration

Beyontec’s Risk Accumulation Tool allows insurers to define exposure thresholds by risk type and geographic location to reduce overexposure.

Validation of Risk Exposure Exceeding Thresholds

Beyontec’s Risk Accumulation Tool uses predefined thresholds to notify insurers if the risk type totals or insured property values in a geographic location reach or exceed tolerable amounts.

Integration with External Systems

Beyontec’s Risk Accumulation Tool is highly configurable and easily integrated with any core insurance system through standard APIs.

Measure Distance and Range Between Risks

Beyontec’s Risk Accumulation Tool provides users with optional parameters through which the distance between risks within geographic locations can be measured.

Detailed Risk Exposure with Reinsurance and Claims Information

Beyontec’s Risk Accumulation Tool provides real-time, detailed reinsurance information by property and area.

Enforcement of Effective Risk Accumulation

Beyontec’s Risk Accumulation Tool allows insurers to preconfigure exposure limits to specific properties, risk types, or locations to ensure effective risk management.

NAT CAT Integration

Beyontec’s Risk Accumulation Tool integrates best in class data standards and models with risk information to create Nat Cat scenarios. Insurers can predict potential weather-related insurance losses based on overall exposures in defined geographic areas.

Viewing of Risk Before Underwriting

Beyontec’s Risk Accumulation Tool accesses satellite, visual imagery of risks. Properties may be viewed online during underwriting, reducing the costs of risk management teams.

Visualize your risk exposure with the Beyontec Risk Accumulation Tool.

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