LOCATION Analyst Provides the Most Comprehensive Library of Geographic Data Ever Developed in a GIS for Insurers
JERSEY CITY, N.J., November 17, 2009 — ISO announces the launch of a new spatial risk-management system to help insurers explore and analyze their portfolios. Using LOCATION® Analyst, insurers can interact with ISO data and policy/claims data with robust geographic information systems (GIS) tools and identify insureds near high-risk areas or natural hazards. The system also allows insurers to target new areas of opportunity, analyze property based on custom defined risk levels, and investigate risk concentration of policies based on unique risk profiles.
“LOCATION Analyst is a GIS platform enabling companies to combine three powerful assets — GIS technology, data from their books of business, and ISO data — into a sophisticated package to view their business in a whole new way,” said Bryon Kenne, LOCATION Analyst product manager. “What makes LOCATION Analyst unique is its quality data. We use information from the entire suite of LOCATION services, including our Public Protection Classification program (PPCTM); Building Code Effectiveness Grading Schedule (BCEGS®); and crime, wind, and catastrophe hazard data. We also incorporated state-of-the-art GIS assets from Environmental Sciences Research Institute, Tele Atlas, DigitalGlobe, U.S. Census Bureau, U.S. Geological Survey, National Oceanic and Atmospheric Administration, and U.S. Environmental Protection Agency, as well as real-time weather data and InfoUSA’s database of more than 14 million businesses in the United States. And ISO can create robust geodatabases for all data contributors to ISO’s Automobile-Property Loss Underwriting Service (A-PLUSTM) and Coverage VerifierSM databases and AIR Worldwide’s UNICEDE® users.”
“Simply put, we’ll build you an integrated GIS so you can spend your time exploring and analyzing your business,” added Kenne.
Developed specifically for insurers, LOCATION Analyst integrates ISO data with an insurer’s policy data to create powerful information. The system incorporates various third-party data sources, so users can create sophisticated analyses and reports out of the box or create custom analyses and reports.
“Our goal is to bring the strong value of GIS technology to our customers in a manner that leverages their investment in ISO data,” said Bill Raichle, vice president, Risk Decision Services at ISO. “ISO’s LOCATION is the most widely used GIS-based product in the industry, and LOCATION Analyst provides additional value to all our customers. There’s no easier way to take advantage of GIS today,” added Raichle.
ISO, a Verisk Analytics subsidiary, is a leading source of information about risk, providing data, analytics, and decision-support services to professionals in many fields, including insurance, finance, real estate, health services, government, human resources, and risk management. Using advanced technologies to collect, analyze, develop, and deliver information, ISO helps customers evaluate and manage risk. The company draws on vast expertise in actuarial science, insurance coverages, fire protection, fraud prevention, catastrophe and weather risk, predictive modeling, data management, economic forecasting, social and technological trends, and many other fields. To meet the needs of diverse clients, ISO employs an experienced staff of business and technical specialists, analysts, and certified professionals. In the United States and around the world, ISO helps customers protect people, property, and financial assets.