SOURCE: Proxix Solutions

July 10, 2007 07:00 ET

Proxix Solutions Enhances Its CATUM Insurance Solution

With Proxix's Damaging Winds and Fire Station Databases and Basic Flood Data From First American

PALM HARBOR, FL--(Marketwire - July 10, 2007) - Proxix Solutions, a location intelligence company, today announced data enhancements to CATUM, its location intelligence solution for the insurance enterprise.

As catastrophes increase in frequency, Property and Casualty companies face challenges in managing risk. Proxix has enhanced CATUM by adding Proxix's Damaging Winds and Fire Stations, and Basic Flood Data from First American to its suite of databases. CATUM, a fully integrated solution combined with high-precision geocoding, spatial analytic technology and sophisticated data sources, provides accurate geographic information for risk management decision support.

Proxix's Damaging Winds database consists of individual risk scores for the three major types of damaging winds; straight-line, hurricane and tornado, and an aggregate score for all damaging wind events. Using detailed data from the NOAA National Climate Data Center based on observed wind speeds above 65 knots, Proxix modeled point wind observations at a granular level, and based five risk categories on the average number of expected damaging wind events per year. By integrating Proxix's Damaging Winds into CATUM, insurance companies can understand property and structural loss potential seamlessly across the United States.

Knowing where a homeowner's property is in relation to a fire station helps determine an individual property's fire ranking for insurance companies. With Proxix's Fire Station database, CATUM returns the name of the nearest fire station, whether the station is full time, voluntary or both, and the distance the station is from the insured property.

First American's Basic Flood Data incorporates three data elements: FEMA Flood Zone, "In/Out" of Special Hazard Area and proximity to the Special Flood Hazard Area. First American utilizes the industry's most comprehensive database of digital flood maps that are constantly updated to reflect FEMA's most recent studies and rigorously reviewed to meet First American's standards for quality. When Basic Flood Data is combined with CATUM, insurers can more accurately determine whether or not a property is partly or wholly contained in a flood zone.

Other available databases include Coastal Risk, Earthquake, ESA (Elevation, Slope and Aspect), Mine and Mine Subsidence, Parcel Boundaries, Regulatory Compliance and Wildfire Risk. For more information on CATUM visit www.proxix.com.

About Proxix Solutions

Proxix Solutions develops location intelligence products and enterprise solutions to provide businesses actionable information for decision support to make smarter decisions, understand and mitigate risks, cultivate profitable customer relationships and increase market penetration. Proxix Solutions, a privately held company, was founded in 2003. Proxix's management team was responsible for developing many geospatial industry firsts, including the first national address geocoder. Proxix is headquartered in Palm Harbor, FL with offices in Boulder, CO and Madison, WI. For more information on Proxix visit www.proxix.com.

About First American

The First American Corporation (NYSE: FAF), a FORTUNE 500® company that traces its history to 1889, is America's largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people's lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information and First Advantage. With revenues of $8.5 billion in 2006, First American has approximately 2,100 offices throughout the United States and abroad. More information about the company and an archive of its press releases can be found at www.firstam.com.

Contact Information

  • For more information contact:
    Lynn Bates
    Email: Email Contact
    Tel: 727.781.2662, ext. 313