Location Inc. Group Corporation, a CoreLogic company, filed a rate and rule submission in Georgia for a new data product designed to support insurer underwriting and rating.
The filing introduces WaterRisk, a proprietary scoring model that uses local area data to estimate the frequency and severity of non weather water losses, such as plumbing or infrastructure related claims. The score is designed to complement existing rating plans and is independent of individual property characteristics.
The model will be offered to third party insurance carriers as a risk assessment tool.