Precisely harnesses TomTom’s industry-leading map and traffic information to enrich its data solutions with all-important location context. In turn, Precisely’s customers use these insights to help reduce fraud, better manage risk and fine-tune marketing activities.

Precise location data allows insurers, for example, to improve underwriting effectiveness. By understanding an asset’s proximity to different kinds of hazards – such as whether a property is located on a flood plain – underwriters can price policies more accurately and reduce losses.

To help its customers pinpoint locations correctly, Precisely leverages rooftop geocoding. This involves combining data from multiple sources, such as census and navigational data, and using location algorithms to determine the exact latitude and longitude of a street address on a map. Locating buildings this way eliminates inaccuracies that could find their way into risk calculations, enabling insurers to price policies with confidence.

Similarly, Precisely’s data enrichment solutions offer customers valuable contextual information, such as demographics, boundaries and points of interest, to drive deeper analysis. Location intelligence like this could reveal, for example, that a highway connecting a retailer’s store and a customer’s home, recently closed, making it less convenient for them to shop at that location. Armed with such insight, the retailer could reach out to the customer with a personalized offer for free delivery or a coupon for another location more accessible to them.