Insurance firms already benefitting from sharing of expertise
STAMFORD, Conn.--(BUSINESS WIRE)--Apr. 21, 2015--
Pitney Bowes Inc. (PBI:NYSE) and JBA Risk Management, the hazard
modelling specialist, today announce a collaboration which will see the
global insurance industry benefit from extended, precise flood risk
management. Pitney Bowes’ location
intelligence expertise paired with JBA’s extensive risk management
data enables underwriters, loss adjusters and claims managers across the
industry to quantify risk and create accurate, thorough risk assessments.
Pitney Bowes has a wealth of experience in manipulating global flood
data to create clear, detailed visual assessments of areas susceptible
to flooding and other hazards. Combining these capabilities with JBA’s
industry-leading datasets such as the Comprehensive Flood Map of the UK
and Ireland, the Europe Flood Map, the Global Flood Map, Hydrological
Accumulation Zones and Annual Damage Ratio data, extends this expertise,
making Pitney Bowes the global go-to organization for flood-risk
mapping, assessment, and visualization with a suite of location
intelligence solutions for the insurance industry.
Paul Thompson, Director of Analytical Services, Pitney Bowes said, “We
have relationships with more than 300 insurance companies worldwide and
already provide all of the top 25 P&C Carriers with our geocoding
technology. This global relationship with JBA Risk Management enables us
to be the one-stop show for global insurance data, analysis and location
intelligence solutions.” He continues, “JBA’s data is extremely robust
and well respected, and Pitney Bowes’ innovative applications such as
GeoInsight and Spectrum are used by organizations across the world.
Together, these solutions create a very powerful proposition to help
insurers understand their risk exposure”.
JBA’s portfolio of flood risk management products is now available from
Pitney Bowes, which adds value with its per-record tagging of customer
and asset data. Robert Carling, Technical Director at JBA said, “During
the winter of 2013-14, floods in the UK alone cost the insurance
industry £1.2 billion. It’s a staggering amount for an uncontrollable
and often unforeseen hazard. Our acclaimed data combined with Pitney
Bowes’ extensive experience in manipulating global flood data minimize
the impact of flooding by providing timely, accurate and in-depth risk
assessments. It’s invaluable to the insurance industry”.
Pitney Bowes’ experience in helping organizations mitigate flood risk
extends beyond the insurance industry to encompass public and private
sector organizations alike. Sedgemoor
District Council is one such organization, which came to Pitney
Bowes following Somerset’s devastating floods in 2013-14 to help it
create a visual analysis of vulnerable areas. Sedgemoor District Council
selected Spectrum Spatial Analyst, another of Pitney Bowes’
browser-based location intelligence (LI) and mapping applications, as it
was straightforward to deploy and could re-use existing MapInfo datasets
and products across the organization, for all of its planning and
management requirements.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global technology company offering
innovative products and solutions that enable commerce in the areas of
customer information management, location intelligence, customer
engagement, shipping and mailing, and global ecommerce. More than 1.5
million clients in approximately 100 countries around the world rely on
products, solutions and services from Pitney Bowes. For additional
information, visit Pitney Bowes at http://www.pitneybowes.com/uk/.
About JBA Risk Management
JBA Risk Management is a leading provider of natural hazard modelling
services for insurers, reinsurers, and property or asset managers. JBA
people are experts in their field and have great ideas which they
deliver through exceptional technical expertise. JBA Risk Management
provides security through knowledge, helping clients to understand and
manage risks from natural hazards.
Website
www.jbarisk.com
Source: Pitney Bowes Inc.
Pitney Bowes Inc.
Hina Sharma, +44 (0) 333 999 6381
hina.sharma@pb.com
