The world’s first insurance-specific dashboard will help claims teams, exposure managers and loss adjustors visually understand the impact of COVID-19
London, UK (Apr. 1, 2020) – Imagery and geospatial intelligence consultancy firm McKenzie Intelligence Services (MIS) has unveiled the world’s first re/insurance industry-specific COVID-19 interactive incident dashboard.
Users of the COVID-19 intelligence dashboard, including claims teams, exposure managers, loss adjustors and data scientists, will be able to visualise huge data sets mapping the impact COVID-19 is having in a dynamic, interactive and understandable way.
MIS has been curating data since the outbreak began in January 2020 on travel restrictions, supply chain disruption, social and economic regulatory change, government advice, cancelled events and the overall spread of the virus resulting in movement restrictions.
The datasets are available to examine in real-time and download, as well as rewind over time to understand the situation from the ground on any day in question or how a situation has evolved.
Early adopters of the dashboard include the Lloyd’s market.
The COVID-19 intelligence dashboard has been modelled on the award-winning geospatial data intelligence and imagery natural catastrophe portal MIS-Intel, and rapidly developed following initial discussions with Lloyd’s market participants.
MIS’ bespoke mapping, data analysis and visualisation COVID-19 tool can help industry claims teams handling any affected class of business understand the situation on the ground at the time the claim occurred.
Claims for property business interruption, denial of access, event contingency and liability are examples of those that could be informed by the tool, affording claims teams a single version of the truth at a critical time of uncertainty and upheaval.
“We sense claims will begin to arrive en-masse, stretching teams that are now geographically disparate and adapting to new working practices,” said Vicky Mills, chief product officer at MIS.
“As a result, teams may not have access to the usual office resources to deliver the collated data that will be vital to providing the unique and trusted claims service that is central to the industry and its ethos.
“A safe pair of reliable and trusted hands are required now to capture the data, store the data and make it available for usage, in a way that the market understands and can help with claims clarity and payments,” she added.
Forbes McKenzie, founder and chief executive of MIS, commented: “We are proud to be able to direct our resources towards assisting the industry and its clients manage the ongoing challenges presented by this unprecedented event.
“Thanks to the detailed intelligence we’re gathering from our trusted team of experts in both claims processes and infectious disease mapping and response, we hope to make an important difference to claims teams and exposure managers as they continue to map the impact of COVID-19,” he added.
About McKenzie Intelligence Services
McKenzie Intelligence Services (MIS) is an imagery and geospatial intelligence consultancy firm, servicing clients globally by combining cutting edge space and ground technology with human expertise and AI.
Our intelligence is available to the re/insurance industry across a number of areas and specialisms, including: claims and loss adjusting; exposure management and modelling; business interruption; agriculture; reinsurance and specialty adjusting; power stations, ports and harbours, energy pipelines, municipal buildings and solar panels.
MIS empowers teams to make important reserving and coverage decisions more quickly, helps to reduce reliance on loss adjusting, enables proactive service to policyholders, and early insight into exposure at portfolio level.
Our intelligence is derived from multiple sources, including satellites, the Internet of Things (IoT), drones, radar, and military-grade analysts.
MIS have been the Lloyd’s market geospatial imagery and intelligence providers since 2016, providing the Corporation, all Lloyd’s managing agents, TPAs and partners access to the award winning MIS-Intel portal, delivering best in class imagery and analysis, enabling them to utilise technology to better service their policyholders and make claims and exposure management processes more efficient. For more information, please visit www.mckenzieintelligence.co.uk.
Source: McKenzie Intelligence Services (MIS)Tags: Big Data, coronavirus, data, epidemic, industry first, launch, Real-Time, reinsurance