Launch of TerrorRisk assessment tool

by Gill Montia

Story link: Launch of TerrorRisk assessment tool

Pitney Bowes MapInfo, which provides location intelligence, has joined forces with Exclusive Analysis, the strategic intelligence business, to provide the insurance industry with a new risk assessment tool.

TerrorRisk has been developed by combining Exclusive Analysis’ terrorism forecasting with location intelligence supplied by Pitney Bowes MapInfo.

The new tool can be used by insurers and risk managers to evaluate terrorism risk exposures.

It uses fact-based, location-specific metrics to predict the propensity and likely severity of a violent and political risk on more than 3,700 global points of interest.

Locations identified by Exclusive Analysis to be the most likely terror targets are included in the data set.

TerrorRisk can be applied using political or geographical boundaries on a worldwide or building-by-building basis.

The application’s analysis has been developed to classify targets by name, address and target class.

It also takes into account previous patterns of attacks and an evaluation of terror groups, which seeks to determine their capabilities and priorities in terms of targets.

The tool then combines this intelligence with the value of a building as a potential target.

According to John O’Hara, executive vice president of international operations at Pitney Bowes MapInfo, TerrorRisk can provide insurance companies with an additional trusted analysis solution to help determine the probability and severity of losses.