SEATTLE—(BUSINESS WIRE)—May 8, 2007— Pitney Bowes MapInfo, the leading global provider of location intelligence, today announced an alliance with WSI Corporation (www.wsi.com), the world's leading provider of weather-driven business solutions, to integrate real-time and forecasted weather information within the Pitney Bowes MapInfo(R) desktop and Web-based location intelligence applications. This integration enables insurers, reinsurers and brokers to analyze geographic risk exposure with greater detail, resulting in more accurate business decisions.
Utilizing WSI's weather data in conjunction with Pitney Bowes
MapInfo technology, insurers are able to secure an up-to-the-minute
view of risk exposure as events unfold. This allows for more proactive
and efficient mobilization of claims resources in the wake of a
catastrophe. Historic or forecasted weather information can be used to
develop more robust policy rating models and to assess portfolio risk
exposures to catastrophes and natural disasters. The data can also be
used to calculate a policy holder's proximity to a given event,
distance to the coast and relation to a particular flood zone.
Additionally, the data integration provides insurers with the ability
to perform "what if" scenario analyses. Claims and risk management
brokers can utilize Pitney Bowes MapInfo location intelligence with
real-time weather feeds or forecasts from WSI to monitor weather
situations as they develop.
"Our leading-edge research and development team constantly strives
to translate weather information into more powerful and useful tools
that will provide great benefits to the reinsurance decision-making
process," said Ira Scharf, WSI's Vice President of Energy & Risk
Services. "Combine the expertise of WSI with the capabilities of
Pitney Bowes MapInfo and you have a great product resulting from years
of research and development that will provide insurance executives
with the ability to leverage vast data repositories, right from their
own desktops, to make better decisions regarding risk."
The partnership will deliver global, real-time, forecasted and
historical weather information, as well as analytics including North
American and European radar information. Also available will be global
satellite imagery, proprietary tropical forecasts for the U.S., Japan,
and Australia, European wind forecasts, earthquake monitoring and
WSI's proprietary Hot Storm Index(TM) which derives the potential
impact of severe weather events including hail, wind and flooding from
raw NEXrad radar data.
"In the insurance industry, weather is a critical variable to take
into consideration when assessing risk. Portfolio risk analysis,
underwriting, claims planning and other important business processes
all benefit by carriers, reinsurers, Lloyd's syndicates and
reinsurance brokers incorporating real-time weather and forecasts that
have been created in polygonal format. In this way, the data is more
than a pretty picture, but rather a useful spatial analytics tool. Our
partnership with WSI enables Pitney Bowes MapInfo to directly
integrate real-time information on disruptive weather events into our
customers' applications," said Craig Bedell, director of global
insurance, Pitney Bowes MapInfo. "We pride ourselves on delivering the
best solutions for our customers and this partnership underscores this
About WSI Corporation
WSI Corporation is the world's leading provider of weather-driven
business solutions for professionals in the aviation, media, energy
and insurance markets. Over 200 energy, insurance, and risk management
companies around the globe rely on WSI's weather information and
expertise to make critical decisions in operational planning.
Headquartered in Andover, Massachusetts with offices in Birmingham,
England, WSI is a wholly owned subsidiary of Landmark Communications,
Inc., a privately held company that also owns The Weather Channel(R)
and weather.com(R). Visit www.wsi.com for more information.
About Pitney Bowes MapInfo
Pitney Bowes MapInfo, part of Pitney Bowes Inc. (NYSE:PBI), is the
leading global 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. The
company's solutions are available in multiple languages through a
network of strategic partners and distribution channels in 60
countries. Visit www.mapinfo.com and www.pb.com for more information.
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 Pitney Bowes MapInfo
products and integration of its 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 "Risk Factors." Pitney Bowes MapInfo takes no responsibility
to update any forward-looking statements.