AIRProfiler Provides Easy Access to Location Specific Natural Catastrophe Hazard Information.Business Editors/High-Tech Writers BOSTON--(BUSINESS WIRE)--Dec. 11, 2002 AIR Worldwide Corporation (AIR), the technological leader in catastrophe modeling
1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. system. AIRProfiler contains the hazard data embedded Inserted into. See embedded system. in AIR's catastrophe models, offering users location-specific peril information in a cost-effective, easy-to-use application. AIRProfiler allows underwriters and risk managers to simply enter a property address to get information on distance to active faults, storm surge storm surge: see under storm. potential, detail on historical tornadoes in the area and other hazard related information. Also available are risk scores based on three measures of risk: the 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. (average annual loss), the 100-year return period loss level, and the 250-year loss level. "AIRProfiler is an extremely useful tool for the underwriting decision making process, giving insurers easy access to important hazard information," said Uday Virkud, senior vice president at AIR Worldwide Corporation. "Since risk can vary within a ZIP Code zip code System of postal-zone codes (zip stands for “zone improvement plan”) introduced in the U.S. in 1963 to improve mail delivery and exploit electronic reading and sorting capabilities. , insurers need the higher resolution property information provided by AIRProfiler." In real-time, AIRProfiler will determine if a property being considered for coverage is at an above average risk from natural catastrophes. If properties reach a certain threshold of risk, it is common for an insurer to run a more extensive loss analysis before making the final decision on underwriting. The latest release of AIRProfiler incorporates the following enhancements: -- Severe Thunderstorm Profile: AIRProfiler now offers the ability to generate a profile based on severe thunderstorm activity for the area of a selected property. The severe thunderstorm profile gives users the ability to quickly determine the potential risk from natural catastrophes such as tornadoes, hail storms and straight-line windstorms. Annual frequencies of these events are calculated by processing historical data obtained from the Storm Prediction Center (SPC). -- Accuracy: The hazard information in AIRProfiler has been updated to reflect the most recent releases of the AIR catastrophe models. -- Usability: The usability of AIRProfiler has been greatly improved, allowing corporations rapid deployment of the software throughout their organizations allowing for seamless access to catastrophe hazard information. A new application programming interface will enable AIRProfiler to be incorporated into any Windows-based underwriting systems. Overall design improvements, including an enhanced help menu and new map tools, allow even the most non-technical users to easily obtain the information necessary for quick risk assessment of the property under investigation. AIRProfiler is available now at www.airprofiler.com. Note to Editor: AIRProfiler is available to the press for a free trial. For password and instructions please e-mail airprofiler@air-worldwide.com or call Mike Gannon at 617-267-6645. About AIR Worldwide Corporation AIR Worldwide Corporation (AIR) is a leading catastrophe and weather risk modeling company. Through its web-based and computer software solutions (ClimateCast(TM), CLASIC/2(TM), CATRADER(R), CATMAP(R)/2, AIRProfiler(R)), AIR services the 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. and capital markets. AIR's models simulate losses from both man-made and natural catastrophes in more than 35 countries. AIR is headquartered in Boston and 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 the AIR website at www.air-worldwide.com |
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