GDi GISDATA solutions and services provide financial institutions with insight about their customers’ purchasing habits, financial behavior, and needs for additional products or services. As a result, banks and insurance companies are able to target their best prospects and more accurately target marketing and advertising resources.

Financial services organizations are required to maintain and analyze many volumes of customer and market data. GIS allows bank or credit union to:

• Define trade areas by portfolio,
• Locate profitable micro markets,
• Profile clients by demographics or financial behavior,
• Analyze market penetration,
• Locate new branches, ATMs or POS partners,
• Analyse surrounding competiton,
• Analyse branch cannibalization,
• Improve direct marketing,
• Measure the effectiveness of marketing campaigns,
• Locate untapped market areas and emerging markets,
• Visualize consumer expenditure data,
• Perform drive-time analyses.

GIS users are achieving remarkable returns on their GIS investments with applications such as customer profiling, market analytics, territory management, asset management, delivery route optimization, and risk analysis. GDi GISDATA enables organizations of all sizes to leverage location-based information to enhance workflows, improve decision making, and better manage their geographic reach.

GDi GISDATA Web Services offer out-of-the-box Internet solution that generates finding nearest location and door-to-door driving directions to any of bank’s branches or ATMs nationwide.

Geography is a key tool in understanding customers, policies, claims, risk, and assets

GIS helps insurance companies flourish by giving the tools and services to leverage this geographic component to manage the exposure to loss while successfully competing in an increasingly demanding marketplace.

Processing Claims

To process claims, insurance companies investigate and validate all preliminary claims.
GIS helps claims processors to:

• Locate customers and claims
• Visualize damage zones
• Create evacuation routes
• Create incident boundary maps

Risk Assessment

Underwriting, the task of deciding what risks to insure, allows insurers to discriminate between good and bad risks and to adjust rates accordingly. Risks have a geographic component — different types of claims are more prevalent in different areas.

Reinsurance

Reinsurers turn to GIS as a critical tool in helping them perform risk assessment. Data about natural hazards and catastrophes are mapped using GIS to analyze and determine trends in the insurance industry. Damages are assessed and modeled to help the reinsurer predict the results of future events, thus providing more accurate underwriting. Using geodata helps insurers make better decisions and has given them the means to show results.

Market Development

The insurance market is cyclical, with periods of profitability balanced regularly with a soft market. Demand for insurance, however, tends to be stable — people don’t buy more than one policy just because the supply is greater and prices are lower.
This requires insurance companies to be creative in identifying new markets, serving underdeveloped markets, and retaining existing customers.

Acquiring and retaining customers are critical to any financial institution’s profitability. Knowing exactly where emerging markets are located and reevaluating markets as conditions change are essential to success.