Pitney Bowes Group 1 Software introduced an address-based solution to its Wind Pool Data bundle, developed to help insurance carriers selling in the state of Florida to mitigate their underwriting risk. Delivered through an on-demand, software-as-a-service (SaaS) model, Wind Pool enables insurers to determine whether a property lies within a designated wind pool zone.
Wind Pool is built on the customer data quality platform, which enables users to consolidate data into a single, comprehensive customer record, and integrate that information into business operations to make more informed decisions. It also is integrated into Data Flow, a data management solution that offers extract, transform and load capabilities and business intelligence in a single integrated product.
Insurers can consolidate data into a singular, viewer-friendly format that can be easily interpreted to perform business intelligence analysis and generate comprehensive reports.
Wind Pool is an addition to the Wind Pool Bundle of the Risk Data Suite, a comprehensive source of risk related weather and other natural hazard information. The suite provides historic and real-time weather information based on the location of weather and natural disaster related risk, including earthquakes, floods, hurricanes and wildfires.
"Florida is one of eight states that have designated wind pool zones and an address-based solution is the most reliable way to determine if a property lies within a designated wind pool zone," says Bill Sinn, strategic industry manager, insurance for Pitney Bowes Group 1 Software. "Risk Data Suite provides the actual geographic wind pool boundaries as defined by the individual states, while our new Wind Pool solution takes an address, pinpoints its exact location, and then determines whether the location is inside or outside the wind pool boundaries."
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