Case Study: Top 25 Property and Casualty Insurance Company achieves near‑100% parcel-level location accuracy and faster, more accurate pricing with Precisely Spectrum

Insurer targets location accuracy to lower policy risks and improve pricing

Top 25 Property and Casualty Insurance Company faced a challenge when it replaced an outdated policy administration system: its legacy geolocation solution only provided parcel-level accuracy about half the time and often returned only block- or ZIP-level locations. That lack of precision risked under- or overpricing policies and the insurer needed highly accurate, parcel- or building-level location intelligence that would seamlessly integrate into the new system. Previously using Precisely products for data quality, the insurer sought a location-intelligence solution from Precisely to enrich internal data and support more accurate risk assessments and pricing.

Precisely deployed its Spectrum Technology Platform (including Spectrum Spatial) to consolidate and validate disparate data, assign persistent PreciselyID identifiers to about 198 million properties, and enrich locations with third-party risk attributes (wildfire, flood, distance to coast, driving times, etc.). The result: parcel-level coverage rose from roughly 50% to nearly 100%, “time to quote” fell to one‑tenth of a second enabling automated high-volume quoting, projected loss-ratio improvement of 0.3–0.6% (millions of dollars), and a complete ROI in 14–17 months after a deployment under five months.