Mapflow helps Hibernian to Implement ground-breaking risk
assessment system
Dublin, 19 October, 2006 - Mapflow, leading provider
of location intelligent solutions to the insurance, transport
and mobile workforce markets, has announced the successful
completion of a major contract with Hibernian General Insurance,
the purpose of which was to jointly develop risk assessment
and decision support systems using Mapflow's LocationAgent
software product.
Entitled "GEO", Hibernian's
solution allows them to break free from traditional,
county-based rating, to offer prices that accurately
reflect the likelihood of individual properties being
damaged by a wide range of perils.
GEO automatically assesses and prices Household business
based on the risk profile of any given property and, to
support commercial underwriters, provides detailed mapping
as part of a complete decision support system. GEO ensures
that informed underwriting decisions are made by granting
access to the most comprehensive set of information available
for a property, including risk models and internal policy
and claims data. It also provides a critical link to the
re-insurance process.
Richard Bryce, Mapflow CEO, said, "Assessing risk
at an individual property level has become core to the
underwriting strategy of many commercial and household
insurers. Hibernian's commitment to their GEO initiative
is testament to the role that location intelligent solutions
can play in delivering sustained competitive advantage
and helps reinforce their position as leaders in risk assessment
and rating in the Irish market".
Sharon O'Brien, Executive Manager,
Product Development and Marketing, Hibernian said, "Mapflow and LocationAgent
have helped us to deliver GEO which means that property
insurance customers no longer have to pay premiums based
on insurers' experience of large, easily-definable
areas. This solution allows us to redefine our rating areas
on a much more granular and dynamic basis to offer fairer
pricing to more customers".
For reference
Conor Dempsey
Director
Slattery Communications
Tel: + 353 1 634 2508
Mobile: + 353 86 247 9892
Marie-Therese Culligan
Group Media Relations
Hibernian Insurance
Tel:+ 353 617 8164
Mobile:+ 353 87 2367008
About Mapflow
Mapflow is a leading provider of enterprise location software
and services. Our industry specific business applications
add location intelligence to insurance (risk assessment),
field services (resource management) and transportation
(road user charging) organizations. Our Enterprise Location
Server (ELS) product suite provides organisations with
a way to embed rich location information and functionality
within their business processes. ELS is the foundation
technology for Mapflow's insurance, transport and
location services product offerings.
About LocationAgent
LocationAgent, part of Mapflow's ELS product suite,
provides insurance organisations with the platform capability
required to make accurate, fast decisions on whether to
write policies, and at what rate, through the real-time
identification of peril level risk for an individual property.
LocationAgent is the platform technology which enables
Mapflow's application portfolio in the insurance
sector including its RiskView and PolicView application
products.
About Hibernian General Insurance
Since its establishment in 1908, Hibernian has grown to
be Ireland's largest and most respected insurer, providing
cover on all aspects of motor, home, farm and commercial
insurance. The company's strength lies in the quality
of the service it provides to its customers and the character
and calibre of its staff.
