RISK MANAGEMENT

Risk Management involves assessing the likelihood of an event occurring and the impact it may have. Organisations are able to plan for such an eventuality, so resources will be deployed and managed effectively.

Risk Management can be applied to everyday activities such as providing cover for staff who are off sick and re-allocating work if a staff member’s workload is too high. Risk Management can also be used to gain insight to potential risks and for emergency planning.

The assessment of insurance risk linked to Postcode (demographics, risk, flood, subsidence, infill and crime) and financial lending risk linked to customer or business profile, ccj's, credit rating and bad debt record, are the main areas of expertise in this sector. However, Geoplan’s geospatial systems can also assist with emergency planning – i.e. planning an evacuation after a factory explosion, crowd management after an event and allocation of emergency services to a disaster. Our systems can provide you with vital information when you need it, such as where appropriate resource is and how long it will take to be allocated.

Our approach relies on the use of Postcode-based consumer and/or business records that are geocoded, profiled, attached and overlaid with other data layers to form a view of the likelihood and proximity to risk. These views can be cut and analyzed geographically with a view to defining different product structures, pricing and distribution strategies for different sectors and coverage areas.

This is underpinned by providing operational support in the allocation of leads in call centres and the creation of efficient agency territories and networks.

The need for Risk Management covers many industry sectors, such as Construction, Energy & Water Distribution, Finance & Insurance and Manufacturing. Companies including TaxAssist use Geoplan’s systems to make daily tasks quick and easy.