What is HiGround™?
HiGround™ provides a subsidence risk score for every postcode and property in the UK (excl. Northern Ireland).
This unique risk assessment tool reduces the costs associated with subsidence, which are set to increase 50% by 2040 (Source: Swiss RE)
HiGround™ is therefore a fundamental requirement for insurers, reinsurers, lenders, conveyancers, and housing associations, or anyone involved with managing properties to be better prepared for incidences of subsidence.
Clients use HiGround™ for:
Insurance book risk assessment. HiGround™ scores can be applied to an insurer’s entire property book, delivering improved Solvency II adherence. This helps to ensure that an insurer’s actual book is balanced and commensurate with its intended risk appetite.
Intelligence-led insurance marketing and premium quoting. HiGround™ rapidly assesses the risk of a property subsiding. This is used by insurers to help set premiums that are commensurate with this risk. This results in additional policyholders and increased revenue opportunities through targeted marketing, improved profiling, and accurate premium setting.
Insurance claims validation. HiGround™ provides rapid, desk-based validation of subsidence claims. This helps to despatch the correct resource during the first visit to the policyholder’s home, eliminating the costs associated with unnecessary appointments.
Lender Book Management. HiGround™ provides improved risk quantification and management.
Lender Mortgage Applications. HiGround™ rapidly assesses the risk of a property subsiding and uses this to assess against lending criteria and offer.
Conveyancing: HiGround™ discerns the likelihood that a prospective property will subside. This can be used to manage the risk.
Housing associations. HiGround™ provides risk scores across the housing portfolio. Managing subsidence risk factors is significantly cheaper than dealing with subsidence itself and is crucial for reducing liability and cost within self-insured organisations.