JERSEY CITY, N.J., and BOSTON, Apr. 7, 2005 — ISO and AIR Worldwide Corporation (AIR) announce the addition of Mr. Kenneth Zou as manager of business development for China.
"China's insurance market is developing rapidly, and Chinese insurers need proven risk modeling, data and decision-analytics solutions to continue to expand their business," said Zou. "I look forward to addressing the needs of Chinese insurers with world-class solutions from AIR and ISO."
Zou has extensive experience working in the Chinese insurance market. Before joining ISO and AIR, Zou was the chief financial officer of Sinosafe Insurance and general manager of finance and accounting at Taikang Life Insurance, both headquartered in China.
Additionally, Zou taught accounting and financial management at the School of Economics and Management, Tsinghua University in Beijing. He holds a master of science in accountancy and a master's in public administration. Zou is currently working on his Ph.D. in finance and insurance at Wuhan University in China.
"China's growing demand for insurance and its vulnerability to natural catastrophes make it a promising new market for AIR and ISO," said Karen Clark, president and CEO of AIR. "Ken has extensive knowledge of the Chinese insurance market and is the ideal person to lead our efforts to meet the needs of insurers in this emerging market."
"International expansion is a high priority for ISO," said Carole J. Banfield, ISO executive vice president. "The developing insurance and risk management markets in Asia are an ideal area for AIR and ISO to focus their resources. This is particularly true of China. We are confident that Ken has the ability to guide us to great success in these new and exciting markets."
ISO is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government and human resources. Professionals use ISO's databases and services to classify and evaluate a variety of risks and detect potential fraud. In the U.S. and around the world, ISO's services help customers protect people, property and financial assets.
About AIR Worldwide Corporation
AIR Worldwide Corporation (AIR) is a leading risk modeling company helping clients manage the financial impact of catastrophes and weather. Utilizing the latest science and technology, AIR models natural catastrophes in more than 40 countries and the risk from terrorism in the United States. Other areas of expertise include site-specific seismic engineering analysis, catastrophe bonds and property replacement cost valuation. A member of the ISO family of companies, AIR was founded in 1987 to provide its insurance, reinsurance, corporate and government clients a complete line of risk modeling software and consulting services that produce consistent and reliable results. Headquartered in Boston, AIR has additional offices in North America, Europe and Asia. For more information, please visit www.air-worldwide.com.
Michael Gannon (AIR)