CDS Business Mapping LLC, a provider in online hazard mapping, has just released its Slope/Aspect/Elevation report on the RiskMeter Online (www.RiskMeter.com).
This report is composed of grids 10 to 100 meters (depending on the area) that leverages recently released data from the National Elevation Dataset (NED). In the past, this information has reportedly been difficult and time consuming to obtain. With the RiskMeter Online, this information is available simply by entering an address.
Slope can be an important rating factor for insurers. Many insurers reportedly charge a higher premium for properties built on steep slopes, due to the fact that rebuilding costs are generally higher. In addition, insurance companies are also concerned with slope when in close proximity to brush hazards, because fire tends to run uphill.
Aspect indicates which direction the slope faces. Prevailing winds tend to push brush fires in the direction, which it is headed.
Elevation is used by many companies when evaluating coastal and flood hazards.
A unique feature of the RiskMeter’s Slope/Aspect/Elevation report is the ability to give the user slope and elevation statistics. The report returns the minimum, maximum and average slope and elevation for the area around a property. This alerts the user if the property falls very close to a steep slope.
“The key to success in the insurance industry is having pertinent information right at your fingertips,” explained Dan Munson, vice president of sales and marketing. “With this new report we can provide our users with another tool to help them accurately price a policy based on risk.”
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