Specializing in the placement of excess and surplus lines of business for both personal and commercial accounts, TAPCO acts as an intermediary between carriers and agents. For instance, most insurance carriers will not insure a policy if it is too close to the ocean or located in a flood zone. TAPCO works with insurance agents to find a carrier to underwrite these high-risk policies.
"An insurance policy's location is a critical component of the underwriting process," said Joe Gianzanti, manager of information systems at TAPCO. "By integrating the MapInfo Envinsa platform with our own enterprise system, our underwriters can automatically determine a policy's exact distance from the coast, eliminating any confusion about the policy's deductible. This analysis exponentially improves our customer service and helps increase the speed and accuracy of the entire underwriting process."
Since insurance deductibles are often based on a policy's exact "distance to coast," the need for accurate calculations is an extremely important aspect of TAPCO's business. Prior to MapInfo, distance to coast analysis was done by hand, which was extremely time consuming and not 100 percent accurate. By seamlessly integrating Envinsa into TAPCO's proprietary enterprise system, the exact distance to coast is atomically calculated and presented to TAPCO's underwriters after a policy's address has been entered. Underwriters can also view and share digital images with one another, agents and insurance carriers. In addition, the Envinsa Web services-based architecture enabled TAPCO to keep its existing user interface, eliminating the need for its underwriters to learn a new application.
"Insurance industry organizations like TAPCO have realized the numerous benefits of location intelligence technology," said Craig Bedell, strategic industry manager, Insurance, MapInfo. "A number of insurance carriers across the country are using MapInfo technology and data to improve underwriting, customer service and claims management practices. When analyzed properly and with existing proprietary data, location information can help insurers attract new customers, retain existing customers and increase premium revenues."
About MapInfo Corporation
MapInfo is a global company and the leading provider of location intelligence solutions, integrating software, data and services to provide greater value from location-based information and drive more insightful decisions for businesses and government organizations around the world. MapInfo solutions are available in 20 languages through a network of strategic partners and distribution channels in 60 countries. Headquartered in Troy, N.Y., MapInfo is on the World Wide Web at www.mapinfo.com.
MapInfo and Envinsa are trademarks of MapInfo Corporation and/or its subsidiaries and affiliates.
Of Note
This press release contains forward-looking statements involving risks and uncertainties. Any statement not a statement of historical fact is a forward-looking statement, including without limitation statements concerning demand for and benefits of MapInfo products and integration of MapInfo products with existing solutions. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including those factors contained in the Company's most recent annual report on Form 10-K filed with the Securities and Exchange Commission under the heading "Factors Affecting Future Performance." MapInfo takes no responsibility to update any forward-looking statements.
Contact:
MapInfo Corporation Angela Girard, 518-285-6000 Email Contact or Schwartz Communications Keith Giannini, 781-684-0770 Email Contact