AIR ExportExpress Provides Easy and Efficient Access to Catastrophe Modeling Information.BOSTON -- AIR Worldwide Corporation (AIR) announces the latest release of its CLASIC/2[TM] catastrophe risk management system. Version 8.5 features AIR ExportExpress[TM], a new utility that simplifies the export of company exposure and loss data. "Greater focus on risk management and transparency by regulators, rating agencies, and management is requiring more detailed information on companies' catastrophe risk," said Uday Virkud, senior vice president at AIR. "To meet these diverse reporting and decision-making requirements, companies must typically extract exposure and loss information in multiple resolutions and formats. Using AIR ExportExpress, companies can easily extract virtually any combination of exposure and loss information to meet their expanding information needs." AIR ExportExpress now enables users without knowledge of SQL SQL in full Structured Query Language. Computer programming language used for retrieving records or parts of records in databases and performing various calculations before displaying the results. to export exposure and loss data from CLASIC/2 for reporting and analysis. AIR ExportExpress dramatically simplifies the process of exporting data by making data available at a variety of resolutions and providing a series of filters to refine the results. Sixteen types of extracts are available, which can be filtered by geography, peril, line of business, construction and occupancy. By applying these options, AIR ExportExpress can be used, for example, to analyze the loss contribution for specific stochastic By guesswork; by chance; using or containing random values. stochastic - probabilistic events by exporting event level losses, or to analyze portfolio loss contribution by geographical area and contract. Insurers can also determine loss costs by exporting exposure and average annual loss (AAL (ATM Adaption Layer) The part of the ATM protocol that breaks up application packets into 48-byte payloads which become ATM cells when the 5-byte headers are attached. The AAL resides between the higher layer transport protocols and the ATM layer. ) together in a single file. Significant enhancements have also been made to AIR ImportExpress[TM], a utility that facilitates the quick import of exposure data into AIR's CLASIC/2 and CATStation[R] catastrophe risk modeling systems. In Version 8.5, the performance of AIR ImportExpress for initial data import has been improved in some cases by a factor of three and for data re-import by a factor of ten. In addition, AIR ImportExpress now includes options for checking control totals and address validation so the system can automatically correct data that the user would otherwise have to check and correct manually. 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 A common definition of terrorism is the systematic use or threatened use of violence to intimidate a population or government and thereby effect political, religious, or ideological change. . Other areas of expertise include site-specific seismic engineering analysis, catastrophe bonds catastrophe bond A debt security with a payoff tied to the relative severity of a natural disaster such as a hurricane or earthquake. Bondholders are paid with insurance premiums but may have to accept reduced principal repayment in the event the specified , and property replacement cost valuation. An ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. business, AIR was founded in 1987 to provide its insurance, reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. , corporate, and government clients a complete line of risk modeling software and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" that produce consistent and reliable results. Headquartered in Boston, AIR has additional offices in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, and Asia. For more information, please visit www.air-worldwide.com. |
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