New York - Guy Carpenter & Co. LLC, a global risk and reinsurance specialist and a part of the Marsh & McLennan Cos., expanded its award-winning, Web-enabled i-aXs data management platform to include both workers' compensation and accident and health lines.
Originally introduced to property users in early 2006, i-aXs offers a full suite of Web-enabled tools designed to help insurers more efficiently manage exposure and loss data, as well as data mining, analytics and real-time catastrophe information. With i-aXs, clients can view, analyze and graph results from numerous analyses performed on their data—down to the individual policy level—directly from their desktops.
"The market response and demand for this platform has been exceptional, and we are pleased to provide the growing number of i-aXs users with an even more robust set of tools through this latest addition of workers' compensation and accident and health lines," says Ryan Ogaard, managing director and global leader of Guy Carpenter's Instrat unit. "We designed these new capabilities in close consultation with our clients and with the unique complexities of casualty data and the perils of workers' compensation in mind. This expanded platform represents a quantum leap in the management of risk portfolios and decision-making across a number of critical lines of business."
Leveraging i-aXs, workers' compensation and accident and health insurers can quickly and efficiently gain insights to critical operational and strategic questions, such as:
- Where are my largest employee concentrations?
- How much exposure do I have near a given potential terror target?
- How much exposure do I have in a given location or ZIP code?
- How will writing a new risk affect my ZIP code aggregates?
- How many employees might be impacted by a catastrophic event?
i-aXs provides a number of customizable tools to help clients more efficiently manage their exposures and dig deeper into their own information.
"As the insurance industry grows ever more data-intensive, the ability to easily and quickly manage the vast amount of information in one's risk portfolio has become critical to success," says Kevin Griffiths, managing director and global leader of Guy Carpenter's Casualty Specialty Practices. "The i-aXs platform provides insurers with the real-time intelligence and market power they need to compete in an increasingly complex marketplace."
Since the launch of i-aXs, nearly 2,000 users at Guy Carpenter client companies have been using the platform to perform vital risk management functions. The i-aXs platform was named winner on the 2006 Oracle Spatial Excellence Innovator of the Year Award for its use of geospatial technology. It has also been recognized with MapInfo's Meridian Award for Organizational Impact for innovative mapping technology and exceptional use of location intelligence, as well as MicroStrategy's 2007 Best Practices in Business Intelligence Award in the Extranet Deployment category.
Source: Guy Carpenter & Company LLC
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