TerrorRisk(TM) Enables Insurers to Conduct Enhanced Strategic Planning Through Location-Specific Terrorism Risk Exposure
TROY, N.Y., July 31 2007 – Pitney Bowes MapInfo, the leading global provider of location intelligence, today announced an alliance with Exclusive Analysis, a leading strategic intelligence company that forecasts violent and political risk worldwide. Together the companies provide insurers with TerrorRisk(TM), a unique and powerful terrorism risk assessment model and data set. TerrorRisk utilizes fact-based, location-specific metrics developed by Exclusive Analysis to score the propensity and likely severity of violent and political risks on more than 3,700 global points of interest. Armed with this insight and the location intelligent capabilities delivered by Pitney Bowes MapInfo(R) technology, insurers and risk managers are able to make more insightful underwriting, rating, coverage and risk selection decisions.
The global TerrorRisk database provides insurers and risk managers with new forward-looking analysis and insight into geographic terror risk exposures that can be evaluated on a building-by-building basis, across target types or by desired political or geographical boundaries–such as city, country or postal code. TerrorRisk contains global intelligence about thousands of specific terror risk target locations that insurers can use for terrorism exposure location analytics, portfolio risk management, risk proximity analysis and street-level terrorism risk assessment.
“Terrorism is a paramount concern in the world today for businesses such as insurance agencies and Exclusive Analysis’ risk assessment delivers targeted and actionable forecasts to help maximize opportunities and mitigate risk. Our insight coupled with Pitney Bowes MapInfo location intelligence equips insurance professionals with a complete view of their overall risk environment, enabling more sound business decisions in underwriting and reinsuring,” said Simon Sole, CEO of Exclusive Analysis.
TerrorRisk delivers trusted terrorism risk analysis, classifying targets by name, address and target class. The data includes locations considered by Exclusive Analysis as the most likely terror targets based on previous patterns of attacks, both against individual buildings and more than 40 discrete target classes, analysis of terror groups and their capabilities, and targeting priorities, and the value of a building as a potential target. When used in conjunction with Pitney Bowes MapInfo location intelligence solutions, such as the Risk Data Suite, MapMarker(R) Plus and ParcelPrecision(TM) geocoding, and analysis platforms such as MapInfo Professional(R) or Envinsa(R), TerrorRisk provides insurers with the most flexible risk analytics solution on the market.
“Location is one of the most critical elements in assessing risk and aligning with Exclusive Analysis enables us to provide insurance companies with an additional trusted analysis solution to help determine the probability and severity of losses. Potential terrorist attacks have become an increasingly important risk factor for our clients and the global insurance industry,” said Craig Bedell, director of global insurance for Pitney Bowes MapInfo. “TerrorRisk adds another critical data set to our rapidly growing portfolio of location intelligence solutions. Risk managers from financial institutions, manufacturers and global retailers are interested in utilizing TerrorRisk as an attribute of their ERM (Enterprise Risk Management) programs.”
TerrorRisk is currently available. For more information visit www.mapinfo.com/TR
About Exclusive Analysis
Exclusive Analysis provides trusted, forward-looking advice on war, terrorism, civil unrest and political risk globally. Its forecasting is used extensively by leading insurance companies who rely on it to inform their judgment about risk selection. Over 40 insurance clients worldwide, including 8 of the top 10 syndicates in Lloyd’s, use Exclusive Analysis to enhance their knowledge-led underwriting practices. Visit www.exclusive-analysis.com for more information.
About Pitney Bowes MapInfo
Pitney Bowes MapInfo, part of Pitney Bowes Inc. (NYSE:PBI), is the leading global provider of location intelligence solutions, integrating software, data and services to provide greater value from location-based information and drive more insightful decisions for businesses and government organizations around the world. The Company’s solutions are available in multiple languages through a network of strategic partners and distribution channels in 60 countries. Visit www.mapinfo.com and www.pb.com for more information.