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MapInfo integrated into risk management software
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Pitney Bowes MapInfo
: 21 August, 2007 (Application Story) |
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Risk analysis specialists extend their capability with the integration of location intelligence capabilities into risk management software |
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Pitney Bowes MapInfo has announced the integration of
its location intelligence technology into i-aXs, an innovative,
online Risk Management platform developed by Guy Carpenter & Company,
LLC, the world's leading risk and reinsurance specialist. With the added
component of location intelligence, i-aXs enables insurance companies to
analyse and visualise their portfolio exposures and losses at a granular
level, helping them make more informed reinsurance purchase decisions.
Guy Carpenter already leveraged MicroStrategy's business intelligence
technology within its i-aXs platform and sought a way to more
efficiently analyse and report data from a location perspective. It
integrated the Pitney Bowes MapInfo Location Intelligence Component
with its MicroStrategy business intelligence platform and as a result,
ceding insurance companies can now utilise location intelligence while
concurrently accessing a range of enterprise reporting and analytic
solutions. Pitney Bowes MapInfo also enables i-aXs to utilise the output
of standard catastrophe model applications. Users are able to seamlessly
generate maps of a catastrophe exposure based on reports as well as
create reports based on maps.
Shajy Mathai, managing director of Guy Carpenter, stated, 'i-aXs is an
ideal solution for risk managers who have previously struggled with
having too much data and not having the proper resources to manage it
and fully take advantage of what the data can provide. The Pitney Bowes
MapInfo product provides our clients with the ability to visualise this
information on a map, bringing greater clarity to the decision-making
process.'
i-aXs enables reinsurance providers to better access and utilise
exposure information about natural hazard risks, such as hurricanes,
tornados and hail storms, or man-made risks, such as terrorism, from
satellite data, GPS and catastrophe models. These tools help carriers
better evaluate their risk exposures and select the appropriate
reinsurance coverage.
With real-time weather feeds from WSI Corporation and historical
information from the Pitney Bowes MapInfo Risk Data Suite(tm)
reinsurance providers are able to analyse geographic risk exposure with
greater detail, resulting in more accurate business decisions. WSI
provides unique and powerful real-time analyses of forecasted and
unfolding weather events that allow carriers and reinsurers alike to
understand and estimate the maximum probable loss associated with severe
weather events. Historical weather data enables underwriters and
analysts to understand the propensity of weather related loss for a
specific area.
'With more than 80 percent of all insurance information containing a
location component, analysis of this information is critical to making
sound insurance business decisions. The reporting power of business
intelligence takes on special value when complimented by location
intelligence. i-aXs represents the culmination of these efforts,' said
Craig Bedell, director of global insurance, Pitney Bowes MapInfo. 'i-aXs
is also an excellent example of utilising web services for delivering
powerful analyses and reporting made possible by our Location
Integration Components with leading business intelligence solutions.'
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