Covéa Anticipates and Reduces Risk Exposure with Spectrum Spatial
Customer Company Size
Large Corporate
Region
- Europe
Country
- France
Product
- Spectrum Spatial
Tech Stack
- Geographic Information Systems (GIS)
- Business Intelligence (BI) Systems
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Innovation Output
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Analytics & Modeling - Real Time Analytics
- Application Infrastructure & Middleware - Data Exchange & Integration
Services
- Data Science Services
- System Integration
About The Customer
Covéa is a French mutual insurance group comprising the MAAF, MMA, and GMF brands. It is a major player in the insurance industry, specializing in damages and liabilities. Covéa ensures over 11.5 million people in France and employs 26,000 people worldwide, with over 21,000 in France. In 2017, it received €16.3 billion in premiums. The Covéa Risks Analytics Center provides solutions for better managing portfolio exposure, improving risk selection, and anticipating climate crises. Covéa uses Spectrum Spatial software from Precisely for risk management and customer-facing services.
The Challenge
The risk analytics department at Covéa faced the challenge of managing increasing climate and technology-related risks impacting financial results. With the worsening of these risks and a restrictive legal framework, there was a need for an enterprise risk management culture. Location Intelligence solutions were essential to address these challenges.
The Solution
Covéa uses Spectrum Spatial from Precisely for spatial data analysis, leveraging geocoded addresses and integrating data from BI systems. This provides dynamic, navigable maps accessible via a web browser. The application combines third-party information with internal data, using GIS and BI technologies for cartographic display of portfolios. This integration allows for refined risk calculations and supports strategic transformation projects.
Operational Impact
Quantitative Benefit
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