23 January 2020Insurance

CoreLogic acquires Location

CoreLogic, a global property information, analytics and data-enabled services provider, has completed its acquisition of Location, a provider of geographic data sciences and predictive, location-based analytics for businesses across the US and Canada.

Location’s proprietary RiskSuite and NeighborhoodScout solutions combine the company’s 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 use Location’s suite of claims risk products, including non-weather WaterRisk and FireRisk, as well as HailRisk, to predicts loss costs for these perils.

CrimeRisk, the company’s high-resolution crime analytics, offers crime risk data and is used by insurers across North America to help in mitigating risk and uncertainty in the underwriting workflow.

“Location’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.”

Dr Andrew Schiller, CEO of Location, added: “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. 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.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
6 March 2020   The aim is to further enable insurtech integration for its clients.
Insurance
13 September 2019   There are 775,654 US homes at extreme risk of wildfire, according to CoreLogic analysts.