Digital mapping and GIS software developer Cadcorp has announced that during the Association for Geographic Information (AGI) annual dinner and awards ceremony, held in London towards the end of 2004, its business partner, ISL, won the AGI Innovation and Best Practice in the Private Sector Award 2004, sponsored by Oracle.
ISL was nominated for its work with Ecclesiastical Insurance to bring an innovative, easy to use GIS-enabled application into Ecclesiastical’s main business process. The project has resulted in the development of a Microsoft Windows application, ISL RiskPoint, which uses Cadcorp SIS (Spatial Information System) software as the digital mapping and GIS component.
RiskPoint allows insurers to pinpoint the location of their policies and to assess the impact of catastrophic events on the environment and critically, on their book of policies, i.e. insured properties and businesses. Developed through a successful partnership between Ecclesiastical, ISL and Cadcorp, the initiative was conceived in response to UK Financial Services Authority (FSA) guidelines relating, in particular, to recent natural catastrophes and terrorist attacks. These require that the insurance industry knows the extent and location of its potential losses.
“RiskPoint is a milestone application for the mainstream insurance and peril analysis sectors and we are extremely pleased that the AGI has recognised it in this way,” commented Mike O’Neil, managing director, Cadcorp.