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Let’s face it. The insurance industry has never been considered an early adopter of emerging technologies. However, because of recent customer demand and pressure from ratings agencies, regulators, and investors, the industry has begun a mass migration toward greater implementation of location intelligence (LI) technology. Clearly, the element of “where” factors in critical decision-making in various areas of the enterprise, including policy rating, underwriting, portfolio risk management, claim management, sales, marketing, and distribution.

Nowhere is this more important than when dealing with extreme weather events. If the catastrophic events of recent years provide any indication, then insurers can no longer afford to analyze an event post facto. Today, it is crucial to have the capability to interpret an event in real-time and to then take swift action to minimize loss.

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