Thursday, June 5, 2008

Napco Increases Use of AIR's CATStation

AIR Worldwide Corporation (AIR) announced that Napco, LLC., a commercial insurance wholesale broker, has expanded its use of AIRs CATStation®, to assist clients with their catastrophe underwriting decision-making and portfolio management.

We rely on AIR model results to negotiate the best possible contract terms and conditions on behalf of our clients, said Ravi Singhvi, assistant vice president, risk modeling, at Napco. With CATStation, were able to analyze risks using the same high quality hazard and loss information used by insurers and retail brokers.

CATStation provides the flexibility wholesalers, retailers and insurers require in one easy-to-use catastrophe management application. Napco uses CATStation to seamlessly combine exposure concentration analysis, hazard analysis, and policy-level loss analysis into a single web-based solution. Based on an in-depth evaluation, Napco chose CATStation as its sole application for analyzing their clients catastrophe risk.

It was an easy decision to expand our relationship with AIR because they provide superior customer service and have proven to be a good business partner, continued Singhvi. AIR's CATStation allows us to simplify our workflow by bringing critical data elements together in a single, easily configured report. For example, we can now provide our clients with information on how much each location contributes to the overall policy from a loss perspective, as well as whether each location meets such criteria as distance to coast or soil type.

Wholesale brokers like Napco operate in a very competitive business climate and rely heavily on the information provided by catastrophe models, said Bill Churney, vice president at AIR Worldwide. AIR scientists and engineers actively participate in the global scientific community to ensure that AIR models reflect the collective body of scientific thought and research. As a result, AIR's models enable Napco to provide their clients with more stable and consistent information over time."

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