NEEDHAM, MA, January 4, 2005 � As the insurance industry faces ongoing pressures to increase cost efficiency and further automate operations, delivery channels and customer relation activities, TowerGroup believes geographic information system (GIS) technology has an important role to play. Application of GIS technologies can enable a wide range of solutions ideally suited to optimizing many areas within an insurance company – ultimately benefiting some of the industry’s most critical areas of information processing.
GIS technology is an essential enabler for insurance operations because of the actionable knowledge it layers on top of traditional data about policyholders, claims and service providers. Investments in GIS technology can also benefit non-core insurance areas such as property management, real estate investment, company-owned agency management and employee benefit services
In TowerGroup’s new research titled, “Geographic Information Systems 2004 Update: Essential Technology for P&C Insurance,” Deb Smallwood, vice president in the Insurance practice area at TowerGroup and co-author of the report, provides an overview of geographic information systems in the property and casualty sector of the insurance industry. She also proposes a prototype strategy for insurance companies to help make GIS an actionable component of a carrier’s IT and business infrastructures. The report was co-authored by Matthew Macauley, research associate at TowerGroup.
This research report is available to qualified members of the press for review. To request a copy or to arrange an interview with Ms. Smallwood, please contact the public relations representative listed above.
About TowerGroup: TowerGroup is the leading advisory research and consulting firm focused on the global financial services industry. A respected source for trusted information and advice, TowerGroup brings many of the world’s leading financial institutions, technology companies, and professional services firms a deeper understanding of the business and technology issues impacting their organizations. Headquartered near Boston in Needham, Massachusetts, and with offices in North American, Europe, and the Asia-Pacific region, TowerGroup serves a global client base.