Insurance Intelligence: Harnessing EASI Data for Smarter Business Moves

December 16, 2024 By

Insurance companies are always looking for high-quality data to inform their decision-making processes. They know how crucial it is to have the right data, whether it’s figuring out premiums, spotting the top community trends in a geography, or understanding customer insurance spending. 

That’s why insurance companies come to EASI for their data needs. Instead of trying to source and gather the data from disparate sources, they partner with EASI to uncover the insights they’re looking for.  

The EASI data difference

EASI stands out with data collections that are tailor-made for insurance companies. We source data from some of the best sources around, including: 

  • the U.S. Census
  • the American Community Survey (ACS)
  • the Bureau of Labor Statistics
  • the Bureau of Economic Analysis
  • the National Health Interview Survey
  • ZIP4 postal codes (Conversions, ZIP4-Plus, and Carrier Routes)

With over 40,000 unique variables at our disposal, we can paint a detailed picture of communities and their residents from every angle. Our proprietary ranking and scoring system combines dozens of variables to generate a highly detailed and accurate picture of your chosen community. Learn about residents’ quality of life, life stages, and income levels with EASI Life Stages, Profiles, detailed reports, Ring Studies, and more.

We’ve also developed insurance industry-specific variables and datasets since we’ve worked with many of the top insurance companies over the years. Our insurance customers use them to discover insights, develop new products, and make better data-driven decisions for themselves and their customers. 

The data EASI offers insurance companies

Here’s a quick overview of the kinds of variables we provide that can help your insurance business: 

People-specific Variables Employment Variables Geography Variables
  • Age
  • Sex/Gender
  • Family Characteristics
  • Population
  • Households
  • Median Age
  • Home ownership
  • Education
  • Consumer expenditures
  • Income
  • Commuting Times & Locations
  • Business Employment
  • Quality of life index
  • Weather index
  • Crime index

How can your insurance company use this data?

Here are a few ideas on how to use this data:

  • Design new products: Create offerings that resonate with specific demographics.
  • Refine your algorithms: Enhance how you determine premiums and coverage rates.
  • Forecast claims: Get ahead of the industry by predicting insurance claim rates in various areas, by customer group, or product.
  • Risk assessments: Refine your risk assessment model using EASI’s updated and enhanced data to evaluate risks associated with different policy types. 
  • Customer segmentation: Optimize customer groupings or discover new ones with EASI’s extensive insurance industry datasets. 
  • Fraud detection: Integrate EASI’s data into your fraud detection algorithms and tech stacks to identify anomalies that indicate fraudulent activity more easily. 

EASI has the data for you

At EASI, we’re all about providing insurance companies with the data they need to thrive. Our comprehensive datasets give you new insights into communities and potential customers. Use our data and reporting to create new products and services, update existing ones, and learn more about your customers so you can develop better relationships with them. 

Contact EASI today for insurance-specific data tailored just for your insurance company.