Case Study: Property and Casualty Insurance Company achieves near-100% parcel-level location accuracy and faster quoting with Pitney Bowes Spectrum

Insurer targets location accuracy to lower policy risks and improve pricing

Property and Casualty Insurance Company, a national top‑25 P&C insurer, needed parcel‑ or building‑level geolocation after replacing its legacy policy administration system to more accurately price and assess risk. The insurer turned to Pitney Bowes and its Spectrum solutions to supply persistent, high‑precision Location Intelligence that would integrate into the new policy administration system.

Pitney Bowes deployed the Spectrum Technology Platform (including Geocoding, Routing, Location Intelligence and Spatial modules) to consolidate and validate data, assign persistent pbKeys to locations and enrich 198 million properties with hazard and third‑party attributes. The Pitney Bowes solution increased parcel‑level accuracy from ~50% to nearly 100%, reduced time‑to‑quote to 0.1 second, improved the loss ratio by 0.3–0.6% (saving millions), and delivered a projected ROI in 14–17 months with full deployment in under five months.