AIR Worldwide Seeks to Improve Geocoding With Trillium Deal

Catastrophe risk modeling software and services provider AIR Worldwide, a member of the Verisk Insurance Solutions group at Verisk Analytics, will integrate geospatial technologies from data quality services provider Trillium Software, a business of Harte-Hanks, Inc., the companies report.

The companies expect the integrated software solution to help AIR Worldwide’s clients improve risk geocoding and catastrophe risk analyses for perils such as wind, flood, and earthquake outside the United States.

“Data quality and, in particular, accurate geocoding for risks are major contributors to the reliability and understanding of potential losses from perils such as earthquake, cyclones, flood, and terrorism,” said Uday Virkud, P.E., executive vice president, AIR Worldwide. “With seamless integration of Trillium Software’s precise geocoding capabilities with AIR’s products, we will facilitate improved risk assessment and management for our clients.”

The integration will enable AIR Worldwide to offer its clients three solutions that are designed to provide users with access to high resolution geocoding for more than 70 countries. The solutions include:

• Client-hosted Trillium Software integrated with CLASIC/2 for rooftop or street-level centroid geocoding. This option is suitable for geocoding a portfolio or multiple portfolios.

• An AIR-hosted web service for clients processing less than 250,000 records per year, incorporating a real-time link to Trillium Software’s “On Demand” service.

• An international geocoding service for consulting engagements that will use Trillium Software geocoding services. This option enables companies to leverage geocoding for their custom AIR consulting projects.

CLASIC/2 takes into consideration the construction, occupancy, age, and height of each structure, as well as location-specific geographical information, such as land use/land cover, elevation, topography, geological information, and insurance policy and reinsurance treaty terms. This translates to better information to support risk selection, underwriting, and pricing decisions, say the companies.

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