Enhancing Risk Modelling for Every Address in Australia

Aon leverages data from Geoscape Australia to provide detailed risk assessments to its client base.

Geoscape supplies comprehensive national location and building information, covering the large majority of buildings in Australia with consistent standards and data attributes across all states and territories.

One of Aon’s solutions is the Combined Hazard Information Platform (CHIP). CHIP uses both Geoscape Buildings and G-NAF Core datasets to help better calculate peril-specific insights for every Australian building and address. CHIP covers all major natural hazards impacting Australia such as floods, bushfires, storms and hail, cyclones and earthquakes.

CHIP also includes risk insights for non-natural perils such as property-based crime and fire risk. CHIP quantifies natural hazard risk both in the present-day climate and future climate, allowing clients to quantify the projected physical impacts of climate change on their in-situ properties of interest.

Geoscape datasets offer precise building locations and details like roof material, building height, and roof pitch.

These building attributes are crucial to ensure the risk-based insights provided by CHIP are robust down to the individual building level. Flood and bushfire hazard in particular can vary within an individual address parcel and so use of building level data helps improve confidence in risk assessment for natural hazards.

For example, the type of roof material can affect potential costs experienced in hailstorms or tropical cyclones. The presence of solar panels on the roof can also alter the risk profile. This building-specific information allows clients to better quantify risk and ultimately allows them to make more informed, better risk-based decisions on Australian property.

This partnership between Geoscape Australia and Aon highlights how robust location intelligence can enhance risk assessment, and make more informed business decisions.