LOS ANGELES May 8, 2006 – MSB, an MDA company and the leading worldwide provider of building cost data and estimating technology to the property insurance industry, announces the integration of MSB Hazard Express (TM), MSB’s comprehensive exposure look-up and mapping application, into MSB’s Web-hosted “total component” home valuation tool, MSB Express(TM) with RCT (Residential Component Technology(TM)). The on-line integration of these two powerful tools gives agents and underwriters a single source for access to all the information needed for risk evaluation: replacement or reconstruction cost, distance to coast, and distance to brush fire, earthquake, sinkhole, wind pool, and premium tax zones.
“Agents and underwriters spend a lot of time reviewing new business submissions, developing ITV valuations, determining rating territories, assessing flood, earthquake, brushfire or other location-specific hazards,” explains Shelton Shugar, CIO at MSB. “This ‘one-stop-shop’ reduces the time and resources required for risk selection.”
The process is very easy to learn and use. As soon as a user enters the address of the property into the Web-hosted RCT valuation application, the address is standardized and validated as a proper property location. Next, the Hazard Lookup system geocodes the address by latitude and longitude and displays the location on a map. After determining the property’s known hazards or calculating the distance to nearby hazards or features (e.g. wind pool and premium tax zones), Hazard Express displays the distances, plots the hazards on a map, and provides a detailed report. Users immediately determine if the risk meets the carrier’s underwriting criteria and seamlessly continue on to the RCT valuation screens. Fully automated Web services integrate the valuation and hazard data right into the carrier’s system with no manual intervention.
Because the valuation and hazard data is also archived on the Express site, every data field is accessible for review, revision, and analysis to help carriers apply business rules in a controlled, site- and building-characteristic manner.
MSB’s Web strategy is to provide property insurers and the services that support them with secure, real-time access to the applications, services and data essential for success. For more information about MSB Express services, contact Mark Burkhart, Vice President of Sales, at 800-285-1288, Ext. 3620, or e-mail MAILTO:Mark.Burkhart@msbinfo.com.
MSB, an MDA company, is the leading supplier of local building cost information, residential and commercial property valuation technology and services for the property and casualty insurance sector in the United States and Canada. MSB has five offices throughout the U.S. and Canada. For information, please contact Marsha Berenson, Media Coordinator, at 800-285-1288, Ext. 2828, e-mail MAILTO:Marsha.Berenson@msbinfo.com, or visit MSB’s Web site at HTPP://www.msbinfo.com HTTP://www.msbinfo.com.
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of earth and space based information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 2,700 people in locations across the United States, the United Kingdom, and Canada. The Company’s common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.