Modelling geographic risk in glass assurance

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Beck Glass Inc. is a residential and commercial glass replacement company that has recently become one of four companies in the glass insurance market. Beck Glass is interested in creating a criterion for assessing risk of potential glass breakage in order to set insurance prices effectively. The proposed research project will build a model to evaluate risk for different types of glass breakage based on a large database of historical claims using spatial statistics. Geographic variables such as crime rates and proximity to golf courses or playing fields will be examined within a Geographic Information System (GIS). Methods will be developed by UVic researchers to conduct spatial modelling in order to determine the probability of glass breakage and size of insurance claims.