Pitney Bowes and JBA Help Global Insurance Industry Mitigate Risk in New Collaboration
April 21 2015 - 5:00AM
Business Wire
Insurance firms already benefitting from
sharing of expertise
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
Pitney Bowes Inc.Hina Sharma, +44 (0) 333 999
6381hina.sharma@pb.com
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