Moody’s selects TomTom location data for its risk management solutions
Moody’s Insurance leverages TomTom’s global location data to provide geocoding accuracy to support risk models tailored to insurance, financial, real estate, and adjacent domains
AMSTERDAM, May 30, 2024 (GLOBE NEWSWIRE) -- TomTom (), the location technology specialist, today announced its location data has been selected by Moody’s, a global, integrated risk assessment firm that empowers organizations to make better decisions, using its data, analytical solutions and insights.
Moody’s now incorporates TomTom’s data into Moody’s Insurance Geocoder, using precise location information to improve the accuracy and relevance of geocoding analyses across multiple workflows. By combining TomTom’s highly accurate location data with Moody’s modeling capabilities and applications, Moody’s Insurance Geocoder empowers organizations across the insurance, financial, real estate, and adjacent domains reliant on accurate geospatial data with better insights to manage risk, reduce uncertainty, and improve decision-making.
For insurers responding to high-risk events like floods, storm surges, and wildfires, using accurate geocoding specifically designed for insurance purposes is vital, and TomTom’s rich and fresh location data allows Moody’s to create the most fit-for-purpose insurance geospatial reference. Among the many use cases, Moody’s Insurance Geocoder can provide a home insurance company with precise geocoding to assess the exposure of each property to natural catastrophes, enabling it to set appropriate premiums and manage its overall portfolio effectively.
“Accurate and up-to-date geocoding data is core to Moody’s suite of solutions for insurance clients,” said Aaron Mayfield, Senior Director of Product, Insurance at Moody’s. “We’re excited to continue working with TomTom and to use their high-quality location data to deliver advanced intelligence and solutions that help our customers outperform and address the industry’s most important challenges.”
“We’re proud to build on our long-standing collaboration with Moody’s, providing our fresh and reliable location data to help them empower customers with accurate, actionable insights,” said Mike Schoofs, Chief Revenue Officer, TomTom. “Through this collaboration, Moody’s customers leverage TomTom’s location data to address their unique challenges, speaking to the versatility of our location technology.”
About TomTom:
Billions of data points. Millions of sources. Thousands of communities.
We are the mapmaker bringing it all together to build the world’s smartest map. We provide location data and technology to drivers, carmakers, businesses and developers. Our application-ready maps, routing, real-time traffic, APIs and SDKs empower the dreamers and doers to move our world forward.
Headquartered in Amsterdam with 3,700 employees around the globe, TomTom has been shaping the future of mobility for over 30 years.
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