Experian provides insurers with unique insight into man-made perils

Experian provides insurers with unique insight into man-made perils
Launches UK’s first models for escape of water, malicious and accidental damage

Nottingham, 1 February 2010 — Experian®, the global information services company, today announced the launch of three unique new Perils models, providing insurance companies with greater insight into a household’s level of exposure to escape of water, malicious damage and accidental damage.

By assessing the likelihood of a man-made peril event occurring and the financial loss it would expose them to, Experian has enabled insurers to more accurately make underwriting and reinsurance pricing decisions in real-time, according to the level of risk. In addition, Perils models can be used as part of claims analysis, helping to validate claims more quickly and efficiently, and flagging those that show signs of being potentially fraudulent for further investigation

The new Perils models combine hazard data derived from analysis of previous claims from a wide range of insurers with Experian’s comprehensive demographic and lifestyle data, to output a risk factor based on hazards and vulnerability.

General patterns derived from Experian’s Perils analysis indicate:

  • Escape of water is most common in areas with financially stable families living in three and four bedroom detached houses built after 1980
  • There were high instances of accidental damage claims amongst flourishing families with grown-up children and the wealthy retired
  • Densely populated inner-city neighbourhoods have a higher than average concentration of malicious damage claims. They were particularly common in areas of Liverpool, Birmingham and Coventry

Gavin Snell, Managing Director of Consumer Information Services at Experian, said: “Our new Perils models provide insurers with unique insight into man-made hazards, enabling them to better manage and price for risk.  Insurers using Experian’s data, software and analytics to are able to respond to customers with fast and accurate decisions that improve the customer experience.”

Experian offers a range of Perils models to help insurers manage risk. Other Perils models in the range assess exposure to flooding, subsidence, windstorm, fire, freeze and theft.


Chantal Heckford / Jennifer Comerford / Duncan Skehens
Lansons Communications
020 7490 8828
chantalh@lansons.com / jenniferc@lansons.com / duncans@lansons.com

About Experian

Experian is the leading global information services company, providing data and analytical tools to clients in more than 65 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2009 was $3.9 billion. Experian employs approximately 15,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; Costa Mesa, California; and São Paulo, Brazil. 

For more information, visit http://www.experianplc.com.