Pitney Bowes MapInfo Aligns with Exclusive Analysis to Provide Advanced Terrorism Risk Analytics
TerrorRisk™ Enables Insurers to Conduct Enhanced Strategic Planning Through Location-Specific Terrorism Risk Exposure
London, UK — 10 September, 2007—Pitney Bowes MapInfo, the leading global provider of location intelligence, have aligned with Exclusive Analysis, the leading strategic intelligence company, to provide the insurance industry with TerrorRisk™, a unique and powerful terrorism risk assessment tool. TerrorRisk, combining Exclusive Analysis’ terrorism forecasting expertise with Pitney Bowes MapInfo’s leadership in location intelligence, employs fact-based, location-specific metrics developed by Exclusive Analysis to score the maximum likely severity of violent risks to more than 3,700 global points of interest. Armed with Exclusive Analysis’ insight and the location intelligent capabilities delivered by Pitney Bowes MapInfo® technology, insurers and risk managers are able to make more insightful underwriting, rating, coverage and risk selection decisions.
TerrorRisk’s global database contains up-to-date intelligence and high-end analysis covering a range of terrorist threats. The tool provides insurers and risk managers with the means to evaluate terrorism risk exposures worldwide on a building-by-building basis, across target types and by desired political or geographical boundaries—such as city, country or postal code. TerrorRisk is easily integrated into existing analytical work suites, enabling insurers to carry out terrorism exposure location analytics, portfolio risk management, risk proximity analysis and street-level terrorism risk assessment.
“Terrorism is a paramount global concern for businesses such as insurance agencies and Exclusive Analysis’ risk assessment delivers targeted and actionable forecasts to help maximise 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 well-grounded 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 set includes locations considered by Exclusive Analysis to be the most likely terror targets. This evaluation is based on previous patterns of attacks, both against individual buildings and more than 40 discrete target classes, analysis of terror groups, 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® geocoding, and analysis and visualisation platforms such as MapInfo Professional® or Envinsa®, 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 John O’Hara, Executive Vice President of International Operations, 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 utilising TerrorRisk as an attribute of their ERM (Enterprise Risk Management) programmes.”
TerrorRisk is currently available. For more information visit
www.mapinfo.co.uk/TR
