Acquisition expands insurance risk analytics and real estate insights for CoreLogic customers for non-weather water and fire, hail and crime risk data
Irvine, CA (Jan. 22, 2020) – CoreLogic®, a leading global property information, analytics and data-enabled services provider, has announced the completion of the company’s acquisition of Location, Inc., a leader in geographic data sciences and predictive, location-based analytics for businesses across the U.S. and Canada.
Location, Inc.’s proprietary RiskSuite™ and NeighborhoodScout® solutions combine the company’s deep spatial and property risk assets with advanced machine learning and analytics expertise to provide market insights, projections and risk assessments for the insurance, real estate, and finance sectors. Commercial and residential underwriters rely on Location, Inc.’s suite of claims risk products, including non-weather WaterRisk™ and FireRisk™, as well as HailRisk™, as the industry’s first claim probability and severity platform that predicts loss costs for these perils. CrimeRisk™, the company’s high-resolution crime analytics, offers the most accurate and trusted crime risk data on the market today and is used by insurers across North America to help in mitigating risk and uncertainty in the underwriting workflow.
“Location, Inc.’s unique risk analytic products enhance the CoreLogic offering for property and casualty insurance by expanding our capabilities in predictive, location-based analytics,” said Steve Brewer, executive, Insurance and Spatial Solutions for CoreLogic. “Together, we will complete the puzzle on some of the unknowns insurers face with risk assessment for non-weather water and fire loss – a true industry first. Our commercial and personal lines customers can now benefit from the most granular, accurate and predictive set of risk variables to mitigate risk, increase profitability and drive value for their customers.”
“As a deeply creative team led by Ph.D. scientists, we are passionate about providing uniquely accurate insights into where – and how – some of the most pervasive risks arise in property and casualty insurance, whether they be from structure fire, non-weather water, hail claiming patterns, or crime and liability losses,” said Dr. Andrew Schiller, CEO of Location, Inc. “Joining CoreLogic means our data products will be more widely available, easier to integrate via great platforms like RiskMeter™ and Underwriting Center™, and our innovation roadmap can advance at scale.”
CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.
CORELOGIC, the CoreLogic Underwriting Center and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.
About Location, Inc.
Location, Inc. is a rapidly growing, high-end leader in geospatial data, specializing in location-based decision-making tools, analytics and information products. The company builds and licenses data products for the insurance, real estate, and finance sectors. RiskSuite™ by Location, Inc. is a set of SaaS products that predict risk for property and casualty insurance. NeighborhoodScout.com, a comprehensive online platform and API data feed for real estate, is the largest neighborhood search engine in the world, and the most trusted source for choosing a neighborhood.
SOURCE: CoreLogic via INK CommunicationsTags: Acquisition, analytics, CoreLogic, location, Predictive Analytics