Offers Source for Exposure Information and Managing Risk through Automated Property and Hazard Lookup Functionality
New York, February 11, 2008 – Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist, today announced that it has integrated First American Proxix Solutions� PxPoint spatial analytics engine and catastrophe hazard databases and CDS Business Mapping�s RiskMeter.com property look-up service into its award-winning i-aXs� risk management platform. The addition of these new services provides i-aXs users with the ability to view and manage their risk and exposure information through a single, unified hub.
�We remain committed to providing our clients with greater flexibility in how they use i-aXs by integrating it with a host of powerful complementary services,� said Ryan Ogaard, Managing Director and Global Leader of Guy Carpenter�s Instrat® unit.
Mr. Ogaard added, �The i-aXs platform is expanding rapidly. For example, we recently broadened i-aXs to include workers compensation and accident and health lines. This new functionality represents yet another breakthrough in helping insurers better understand and more easily manage their exposures.�
Guy Carpenter has elected to utilize PxPoint Spatial for its advanced spatial capabilities and ability to rapidly process more than 80 million data records for i-aXs� RealCat and accumulation reports. With PxPoint�s spatial analytics and real-time weather feeds from WSI Corporation, i-aXs users can query their policy data to identify insured properties that are in or near a severe weather area. This capability allows users to accurately analyze their concentration of risks and estimate loss damages during a weather event.
The First American Proxix Solutions� hazard layers are implemented within i-aXs mapping include coastal risk, California earthquake, damaging winds, Florida sinkhole, slope and aspect, wildfire risk and windpool. i-aXs is also integrating hazard lookups through its Risk Profiler tool for risk scoring for Proxix Solutions customers. In addition, Proxix also announced pre-approved discounted pricing to Guy Carpenter clients.
The RiskMeter is used by underwriters and agents to automate property lookups by utilizing Internet mapping technology to enable underwriters to determine the proximity to natural hazards for any property in the United States. The RiskMeter, which can save underwriters considerable time and money, performs many types of lookups, including distance to coast, windpool eligibility, rating territories (company-specific), proximity to brush, earthquake information and flood zones. By integrating this service with i-aXs, Guy Carpenter clients with a RiskMeter.com account have one-click access to their subscribed RiskMeter.com
information for the specific location analyzed. CDS offers free RiskMeter.com trial periods to anyone interested in this service.
i-aXs offers a full suite of Web-enabled tools that allow insurers to more efficiently manage exposure and loss data, as well as data mining, analytics and real-time catastrophe information. With i-aXs, clients can view, analyze and graph results from numerous analyses performed on their data � down to the individual policy level � directly from their desktops. The i-aXs platform was named winner of the 2006 Oracle Spatial Excellence Innovator of the Year Award for its outstanding use of geospatial technology. It has also been recognized with MapInfo�s Meridian Award for Organizational Impact for innovative mapping technology and exceptional use of location intelligence, as well as MicroStrategy�s 2007 Best Practices in Business Intelligence Award in the Extranet Deployment category.
About Guy Carpenter
Guy Carpenter & Company, LLC is the world�s leading risk and reinsurance specialist and a part of the Marsh & McLennan Companies. Guy Carpenter creates and executes reinsurance solutions and makes available capital market solutions* for clients worldwide through 2,600 professionals across the globe. The firm�s full breadth of services includes 16 centers of excellence in Accident & Health, Agriculture, Alternative Risk Transfer, Environmental, General Casualty, Investment Banking*, Life & Annuity, Marine & Energy, Professional Liability, Program Manager Solutions, Property, Retrocessional, Structured Risk, Surety, Terror Risk, and Workers Compensation. In addition, Guy Carpenter�s Instrat® unit utilizes industry-leading quantitative skills and modeling tools that optimize the reinsurance decision-making process and help make the firm�s clients more successful. Guy Carpenter�s website address is www.guycarp.com.
About The First American Corporation
The First American Corporation is a FORTUNE 500� company that traces its history to 1889. With revenues of $8.5 billion in 2006, it is America’s largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people’s lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information and First Advantage. More information about the company and an archive of its press releases can be found at www.firstam.com.
About CDS Business Mapping
CDS Business Mapping, LLC was founded in 1994 as a desktop mapping sales and consulting company. The company offers a full line of mapping software, data and applications for insurers. CDS Business Mapping also specializes in natural hazard risk assessment tools and data and is dedicated to the creation and implementation of mapping solutions for the insurance industry.