ESRI and First American Spatial Solutions deliver risk analysis solution

ESRI and First American Spatial Solutions deliver risk analysis solution

ESRI and First American Spatial Solutions announce the release of the Risk Analysis Solution for ArcGIS, a complete location-based risk analysis solution for the insurance industry. Risk Analysis Solution for ArcGIS can be used by insurance companies to view and analyze data at the policy and portfolio level, allowing insurers to assess concentration of risk and increase and improve underwriting decisions.

"Insurers who rely on critical data about their customers in order to price policies and mitigate risk can now also take advantage of the location information included with this data," says Stephen Forte, research director at Gartner, Inc. "Using current and meaningful location data means companies can better understand the exact location of policy addresses, analyze and detect patterns in natural hazard risks, and identify opportunities otherwise unseen in tabular spreadsheets and datasets."

Risk Analysis Solution for ArcGIS combines ESRI's GIS technology with First American's modeling and data. ArcGIS Server, a product that adds full server-side GIS capabilities to the ESRI ArcGIS family of products, provides analytic tools, mapping, and data management capabilities with First American's advanced parcel-based geocoding, natural hazard, and property location data for the United States.

"This innovative risk analysis solution provides insurers with access to the critical GIS tools and hazard information needed to improve their risk management process," states Josh Lewis, director of global partner programs, ESRI. "By partnering with First American, we offer the best of our technologies in a forward-thinking solution. This is a fantastic relationship for us here at ESRI. We believe that our joint efforts will be a significant advantage for location-based analysis in the insurance industry."

"First American has a long history of supplying data and analytics to a number of industries," says Scott Little, vice president and general manager of First American Spatial Solutions. "Extending our insurance solution offering to include the powerful capabilities of ESRI's GIS software will help insurers who need visualization tools to intelligently assess risk concentration during the life cycle of a policy. An ESRI and First American partnership is an ideal match that creates best-in-class products that enable the insurance industry to make even better business decisions across the entire enterprise."

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