Capita London Market Services and ROOM Solutions have developed a web-based service to provide location data to support underwriting decision-making and analysis.
They said the service, called Data Sense, could result in considerable cost savings for insurers and the London market.
The service has the potential to share cleansed asset schedules across all subscribers to a risk, said the two companies. It contains reference data for 160 countries, including the US, the Far East and Europe.
They said Data Sense also supports the rapid adoption of Acord standards.
Capita London Market Services managing director David Jewell said: “Data Sense is an example of our operational support for individual clients and the market as a whole to streamline processes and achieve improved risk management information.”
