AIR Collaborates with Precisely to Offer Clients Premium International Geocoding in Touchstone 2020
July 15 2020 - 6:13AM
Catastrophe modeling firm AIR Worldwide today announced that as
part of its Touchstone® 2020 software release, clients now have the
ability to access a premium international address-level geocoding
feature from Precisely, the global leader in data integrity, to
enhance the quality of their exposure data. AIR Worldwide is a
Verisk (Nasdaq:VRSK) business.
“Using high quality exposure data, such as any information about
the property, its replacement value, and its physical
characteristics including the location of that property, has a
significant impact on the loss results generated by a catastrophe
model,” said Gayatri Natarajan, vice president of product, AIR
Worldwide. “Having the right latitude and longitude coordinates for
a property can have an enormous bearing upon the accuracy of risk
estimation and the impact that extreme events might have on that
property. Through our collaboration with Precisely, Touchstone 2020
will help support clients’ ability to access this feature for
international properties.”
As part of this integration, licensed and configured users will
be able to import or re-geocode exposure data with street
addresses, and have the option of including high-resolution
address-level international geocoding services for use with
Touchstone loss, hazard, and geospatial analyses. AIR clients can
also pass the premium geocodes on to their downstream insurers,
brokers, reinsurers, and retrocessionary insurers so that they can
also make insurance and reinsurance quote/pricing decisions using
the same location-specific geocodes on the client’s behalf. Users
will also have the option to control which locations are not sent
to the premium geocoder by country or by line of business.
“Precisely geocoding enables organizations to organize, locate,
and geo-enrich address data on a global scale to provide greater
context and make better business decisions,” said Clarence
Hempfield, vice president, Product Management, Precisely. “AIR is
an innovator in the catastrophe modeling industry, and with
Precisely’s best-in-class geocoding, Touchstone provides trusted,
enriched location data to enhance catastrophe modeling to meet the
performance, transparency, and flexibility needs for AIR
clients.”
Touchstone 2020 also includes several enhancements that simplify
data transfer, enhance integration, and improve user workflows,
including a quick way to update perils in the Touchstone user
interface. AIR is also introducing more flexibility to bring-in
custom vulnerability functions through Model Builder, which enable
users to create their own view of risk based on AIR model
outputs.
About AIR WorldwideAIR Worldwide (AIR) provides
risk modeling solutions that make individuals, businesses, and
society more resilient to extreme events. In 1987, AIR Worldwide
founded the catastrophe modeling industry and today models the risk
from natural catastrophes, terrorism, pandemics, casualty
catastrophes, and cyber incidents. Insurance, reinsurance,
financial, corporate, and government clients rely on AIR’s advanced
science, software, and consulting services for catastrophe risk
management, insurance-linked securities, longevity modeling,
site-specific engineering analyses, and agricultural risk
management. AIR Worldwide, a Verisk (Nasdaq:VRSK) business, is
headquartered in Boston, with additional offices in North America,
Europe, and Asia. For more information, please visit
www.air-worldwide.com. For more information about Verisk, a leading
data analytics provider serving customers in insurance, energy and
specialized markets, and financial services, please visit
www.verisk.com.
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For more information, contact:Kevin LongAIR
Worldwide+1-617-267-6645klong@air-worldwide.com
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