{"id":177,"date":"2009-07-08T00:00:00","date_gmt":"2009-07-08T00:00:00","guid":{"rendered":"http:\/\/localhost:78\/Wordpress\/?p=17"},"modified":"2009-07-08T00:00:00","modified_gmt":"2009-07-08T00:00:00","slug":"risk-managers-fail-to-focus-on-the-details","status":"publish","type":"insider","link":"https:\/\/www.esri.com\/about\/newsroom\/insider\/risk-managers-fail-to-focus-on-the-details","title":{"rendered":"Risk Managers Fail to Focus on the Details"},"content":{"rendered":"<h3>Why do so few insurers use GIS?<\/h3>\n<p><span style=\"color: black;font-family: 'Tahoma','sans-serif'\">Most insurers are grappling with the consequences of a soft market and increased financial volatility. With trust levels at their lowest in over 50 years, insurers who do not fully understand the risks they are writing face a tough future. The property landscape has changed dramatically, and credit markets remain tight. More uncertainty is introduced every day as globalization, climate change, and ever-moving patterns of land use, crime, and arson alter the geography of cities forever. <!--more--><\/span><br \/>\n<span style=\"color: black;font-family: 'Tahoma','sans-serif'\">Insurers have always believed that they had the tradecraft and analytic knowledge to meet these challenges. The performance of the industry as a whole since 2001 has proved them wrong. Insurers need to apply analytic tools that can differentiate market gaps and potential exposure of hot spots at a more granular level than the postal or ZIP Code level they rely on today. <\/span><br \/>\n<span style=\"color: black;font-family: 'Tahoma','sans-serif'\">You couldn&#8217;t imagine navigating around a city without access to street-level detail, yet most insurers are happy to try to balance their portfolio and manage risks without the same level of understanding. GPS is a no-brainer. It gets you where you need to be, quickly and easily. For the most successful insurers, a GIS is the &#8220;business GPS&#8221;\u2014getting them to the right destination with the least cost in the shortest time.<\/span><br \/>\n<span style=\"color: black;font-family: 'Tahoma','sans-serif'\">With GIS, insurers gain a fresh appetite for risk management and greater transparency in underwriting, helping them more accurately say no and more profitably say yes. In today&#8217;s highly regulated and risk adverse economic climate, this might just be the difference between success and failure.<\/span><br \/>\n<span style=\"color: #758d38\">Does geography really help insurers understand risks better?<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"menu_order":0,"template":"","format":"standard","meta":{"_acf_changed":false,"sync_status":"","episode_type":"","audio_file":"","castos_file_data":"","podmotor_file_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[275862],"tags":[275882,1641,275892],"class_list":["post-177","insider","type-insider","status-publish","format-standard","hentry","category-industry-focus","tag-business","tag-insurance","tag-risk-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.9 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Risk Managers Fail to Focus on the Details<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esri.com\/about\/newsroom\/insider\/risk-managers-fail-to-focus-on-the-details\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Risk Managers Fail to Focus on the Details\" \/>\n<meta property=\"og:description\" content=\"Why do so few insurers use GIS? 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