New technology enhances location intelligence
Pitney Bowes MapInfo (PBM), the provider of location intelligence, has plans to improve its technology.
The company, part of the AIG group, is integrating its location intelligence systems with i-aXs, an online risk management platform developed by Guy Carpenter & Company, the world’s leading risk and reinsurance specialist.
Location intelligence is used to help retailers maximise profits by evaluating new sites, forecasting sales, creating target customer profiles and defining store trade areas.
PBM expects the enhanced technology to improve the ability of insurance companies to analyse and visualise their portfolio exposures and help them make more informed reinsurance purchase decisions.
Once the integration is complete, the PBM technology will enable i-aXs to utilise the output of standard catastrophe model applications.
This will provide users with the means to generate maps of catastrophe exposure based on reports, as well as having the ability to create reports based on maps.
A major advantage of the solution is that it should allow risk managers the proper resources to manage the large amounts of data they need.
For example, i-aXs enables reinsurance providers to better access and utilise exposure information on both natural risks, such hurricanes, tornados and hail storms, and man-made risks, such as terrorism.
Finally, historical weather data can be incorporated into the assessment, allowing underwriters and analysts to understand the full scale of weather-related loss for a specific area.
Category: Business Insurance News, Insurance News
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