TowerStreet Integrates MapInfo Technology; Adds Powerful Territory-Location and Data-Verification Tool.Business/Technology Editors WINDSOR, Conn.--(BUSINESS WIRE)--April 30, 2001 TowerStreet, a leading provider of insurance software and services, has integrated advanced technology from MapInfo Corporation into its online point-of-sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) products. MapInfo provides mapping and geographic information systems geographic information system (GIS) Computerized system that relates and displays data collected from a geographic entity in the form of a map. The ability of GIS to overlay existing data with new information and display it in colour on a computer screen is used primarily to that locate and verify specific addresses. TowerStreet is using the technology to automatically assign 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. and carrier-specific insurance rating territories, as well as to instantly validate and verify address information on applications, even for new homes or new streets. "This is a key step in assuring clean, verified data before a piece of business is rated," said Frank Amoruso, TowerStreet president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "By integrating MapInfo technology, we provide highly accurate geographic data Geographic data is about much more than electronic pictures of maps. The geographic data that describes our world allows for city planning, flood prediction and relief, emergency service routing, environmental assessments, wind pattern monitoring and many other applications. based on latitude and longitude latitude and longitude Coordinate system by which the position or location of any place on the Earth's surface can be determined and described. Latitude is a measurement of location north or south of the Equator. . This lets us assign territories with greater precision and also lets our customers take advantage of related Internet services included in TowerStreet's POS products, such as online maps and driving directions. "MapInfo is providing TowerStreet with a powerful location-based suite, which enables TowerStreet agents and carriers to better serve their customers," said Michael Hickey, executive vice president, sales & marketing at MapInfo. "Using MapInfo's technology, agents and carriers can easily and accurately answer questions regarding the location of current and future customers, rate territories, and sales regions. This solution is ideal for meeting the location intelligence needs of the insurance industry." About TowerStreet TowerStreet is the largest provider of desktop and Web-hosted comparative rating systems, underwriting Underwriting 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. reports, and automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. workflow solutions in the insurance industry. Strengthened by its consolidation with Insurance Information Exchange (iiX) and Rating Services in February, 2001, TowerStreet streamlines the delivery of insurance information and services to more than 20,000 customers. For more information, visit www.towerstreet.com. About MapInfo MapInfo Corporation enables customers to use location to transform information into business advantage. A global company and technology leader, MapInfo provides business intelligence solutions that are deployed across organizations to help them better understand their markets and customers. MapInfo solutions are available in 21 languages through a network of strategic partners and distribution channels in 60 countries. Headquartered in Troy, NY, MapInfo Corporation is on the World Wide Web at www.mapinfo.com. |
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