AIR Debuts CAT Analysis Tool
NU Online News Service, June 29, 2:52 p.m. EDT?AIR Worldwide Corp. has announced the release of CLASIC/2, its interactive desktop system for catastrophe risk assessment and management.[@@]
According to Boston-based AIR, the latest release includes enhancements that improve workflow for users across AIR's spectrum of clients, including insurers, reinsurers, intermediaries and corporations.
"As more companies are adopting a multi-model approach to assess catastrophe risk, new challenges are arising with respect to data exchange and workflow," said Patricia Donahue, senior vice president at AIR.
She said, "AIR has introduced a number of enhancements to its software products to improve client workflow, enabling them to spend less time on data processing and more time on what matters?analysis and decision-making."
Features in the new release include:
? Bulk Data Import, which allows clients to import bulk data from any text file without reformatting.
? Claim Counts Calculation and Reports, which enables users to estimate the expected number of claims for any desired geographic area.
? CRESTA-level Data Import for Europe, which supports the importation of CRESTA-level exposure data, in addition to the detailed data CLASIC/2 has always supported.
? Florida Output Range Report, which facilitates compliance with Florida insurance regulations requiring output range reports.
"This release builds on previous data exchange enhancements, including a recently introduced utility that enables cedants, brokers and reinsurers to seamlessly share CLASIC/2 databases," said Ms. Donahue.
AIR is a risk modeling company helping clients manage the financial impact of catastrophes and weather. Utilizing science and technology, AIR models natural catastrophes in more than 40 countries and the risk from terrorism in the United States. More information is available at www.air-worldwide.com.
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