Analytics tool adds crime risk statistics and mappingReprints
ISO of Verisk Analytics Inc. said Monday that it has updated ISO RiskElements with the addition of SecurityGauge crime data and maps.
According to Verisk Analytics, RiskElements provides data for predictive analytics with access to ISO’s insurance data sets along with demographic research data, ISO aggregate data, public data sources, and data from select third-party data providers.
SecurityGauge crime data adds crime risk statistics and maps. It provides data from local police and meta-analysis of over 9.4 million crime incidents reported from more than 18,000 local law enforcement agencies nationwide, Verisk Analytics said a statement.
“The new SecurityGauge crime data is a major enhancement for ISO RiskElements. By understanding the specific types of crimes and their prevalence in each community, companies will be able to create better models to help predict risk. Our evaluation of SecurityGauge also revealed predictive model lift for personal injury protection and comprehensive coverage in personal auto and for fire, theft, and other property damage in homeowners,” Phil Hatfield, head of modeling data services for ISO said in the statement.