Use Case : API for

Bordereau Pricing

Our API enables accurate pricing of risk by scanning bordereaux for on-site chemicals and returning deep analytics for your pricing engine.

The Problem

Pricing by Permit

If all you have to go on is the Permit, then EIL premiums for chemicals will be excessive. The Permit covers what might be on-site, not what actually is.

Who has time to read the Bordereau?

You receive bordereaux from the Insured stating what chemicals are being held and processed. But who has the time to read that, for every contract, every month?

It pays to be dirty

Your insured charges more for handling the more toxic chemicals - it pays to be dirty. The actual mix of on-site chemicals would probably justify an increased premium.

We scan the Bordereau so you don’t have to

You simply upload the Bordereau spreadsheet to our API, and we scan it for the chemicals used. We will extract quantities and periods covered if they are included.

https://api.chemhazel.com/identify

Word Documents, PDFs…

When the chemical inventory isn’t as neat as a spreadsheet we can still handle it. We use Named Entity Recognition (NER) techniques to identify all the chemicals mentioned. The formatting and internal check digit means that we can also spot CAS numbers and not get confused with zip codes or phone numbers.

Deep Analytics

The /analyse endpoint in our API leverages the entire HazEL database to source the best possible data about each chemical in the inventory. Each score draws on multiple data points from scientific studies, which we then combine so that your pricing engine can fix premium accordingly. We highlight the greatest concern - where this chemical is at the dirty end of the spectrum - in case additional terms need to be added.

https://api.chemhazel.com/analyse

Bells and Whistles

  • You can over-ride our default weightings to fine-tune the analysis of chemicals. If the insured is upstream from population centres then you may want to give more emphasis to aquatic toxicity.

  • Our derived scores make comparisons between cases understandable. You can track the level of risk at a site over time, seeing the difference between the safer periods and the more exposed ones. Or compare different sites across an insured’s portfolio.

  • We track scientific literature, using AI tone analysis to identify emerging concerns about chemicals. This should be built into pricing at renewal, warning you of what might come next year.

  • The /analyse endpoint will report on whatever chemicals you send it. If an insured is looking to expand their inventory to cover new substances then you can be forewarned about additional risks and have an informed discussion about additional premiums.

Contacts

James Alexander

James assists clients in understanding the extent and nature of environmental risks, the coverage available and the placement of policies.

He is UK-based.

james@chemhazel.com

Jo Clarke

Jo oversees the InsurTech side of HazEL, building API integrations for our insurance customers.

He is NZ-based.

jo@chemhazel.com