DMTI Spatial’s Location Intelligence Software
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Narrator: It’s called Location Intelligence, a method of using inherent geographic properties to make informed decisions about customers, markets and services. DMTI Spatial specializes in location intelligence software which, according to their website, allows organizations to unlock business value by leveraging location content. It’s an enticing advantage, and some major corporations have taken notice.
Alex MacKay, CEO: We’re new to the financial industry. We openly state that, and we also admit we didn’t strategically go after it; our customers found us. What we did with Genworth Financial was we were providing them with mappings, very small amount of information. And they revealed to us one day the major problem they had in terms of managing the addresses, and we said, "We know how to do that." And off we went, and it’s been a huge success story. Now we’ve started to work with Lombard Insurance and we’re starting to work with some others. Insurance and banking have become our number one pipeline area right now.
Alex Sweeny, VP of Financial Services: The emerging trends and a lot of the emerging business drivers are causing insurers today to focus a lot on how to get a lot smarter, a lot better, and a lot more efficient at understanding their risk at a particular property or a location. And they realize today that in order to do that better, to do it more cost effectively, and to do it more efficiently, they have to start bringing together a lot of information that previously was in totally separate places; difficult for them to do, costly for them to do, and sometimes not effective in terms of the cost of it versus the return of understanding the details.
All insurers, and in our case we’re focusing for the moment on property insurance, have the issue of the location of the risk they are insuring, the address, the details and all of the knowledge they can gain about that asset. It’s universal to insurance. It’s not unique to one insurer and the information we provide is the same information that all insurers would need. One of the things that we bring together on a national basis in Canada is a view of data and information that’s not readily available to any one insurer, and we can share that back to the community of insurers so they can individually use it.
It’s here now. The industry leaders in Canada are investing today. There are some already in production and our hope is as we gain more visibility with that and we get more insurers educated, and more familiar with what it takes, that they’ll be even more investment in this. As we’ve understood from all these insurers there are lots of steps you can take to begin the process without making large investment commitments, without making a large upheaval in the way you do things today. This can be done incrementally and there’s benefit and value in every step of the way.
