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AIR Worldwide: AIR Worldwide and FirstBest Collaborate to Provide Integrated Underwriting Solution

BOSTON and BEDFORD, Mass., April 1, 2015
- Catastrophe modeling firm AIR Worldwide and FirstBest® Systems, provider of
insurance software solutions for U.S. and global insurance carriers, today
announced the companies will integrate AIR's catastrophe modeling solution
with the FirstBest underwriting management system. The collaboration between
the two organizations allows data and analytics on commercial risk to be
incorporated into the commercial lines underwriting workflow of
property/casualty insurers. AIR Worldwide is a Verisk Analytics (Nasdaq:VRSK)

The solution will integrate AIR's cutting-edge catastrophe modeling and
noncatastrophe analytics from its Touchtone®platform with FirstBest UMS®, a
state-of-the-art underwriting workstation, to incorporate risk analytics in
one comprehensive underwriting decision process. For commercial insurers,
particularly those that write multifaceted commercial risks, including excess
and surplus (E&S) writers, data such as risk scores, summary reports, loss
analysis, and marginal impact to portfolio can now be used to make more
precise, data/analytics-driven underwriting decisions.

"Traditional underwriting and policy systems are not designed to handle fluid,
detailed, and rules-driven risk assessment analysis at the point of
decision," stated John Belizaire, CEO and founder, FirstBest Systems. "Access
to informative catastrophe data is a key determinant of exposures in
intelligent underwriting, especially for complex risks. The AIR/FirstBest
integration allows for up-front portfolio analysis and management in real
time, and our combined solution facilitates individual account analysis
before binding risks."

"By delivering risk analytics directly to the point of decision on the
underwriter's desktop, FirstBest and AIR assist underwriters to make better
decisions, increase competitive advantage, and build a better book of
business," said Bill Churney, COO, AIR Worldwide. "Bringing a more complete
view of risk - both catastrophe and noncatastrophe - into the mainstream of
account underwriting is an important step in the evolution of underwriting
and helping companies to own their risk."

About AIR Worldwide

AIR Worldwide(AIR) is the scientific leader and most respected provider of
risk modeling software and consulting services. AIR founded the catastrophe
modeling industry in 1987 and today models the risk from natural catastrophes
and terrorism in more than 90 countries. More than 400 insurance,
reinsurance, financial, corporate, and government clients rely on AIR
software and services for catastrophe risk management, insurance-linked
securities, detailed site-specific wind and seismic engineering analyses, and
agricultural risk management. AIR, a Verisk Analytics (Nasdaq:VRSK) business,
is headquartered in Boston with additional offices in North America, Europe,
and Asia. For more information, please
About FirstBest

FirstBest® Systems is the leading provider of insurance software solutionsand
services that help U.S. and global insurance companies improve underwriting
profitability, scale their business, and achieve high service levels with
agents and brokers. The patented and proven FirstBest Front Office Suite
powers the underwriting operations of leading commercial property/casualty,
specialty, and workers' compensation carriers. Processing more than $17
billion in quotes and featuring a modular set of applications, the Front
Office Suite incorporates a dedicated underwriting workstation (FirstBest
UMS®), mobile underwriting (FirstBest UMS Mobile(TM)), agent/broker portal
(FirstBest Agent(TM)), data integration/upload applications (FirstBest
AppReader(TM)), configuration tools (FirstBest Business Analyst Studio(TM)),
and integrated analytics engine (FirstBest Insight(TM)). Leading American and
international carriers, such as XL Group plc, OneBeacon, Chesapeake
Employers, Beacon Mutual, and ICW Group, rely on FirstBest to improve
underwriting efficiencies and quality. FirstBest helps insurers
institutionalize risk-assessment knowledge and best practices. With FirstBest
solutions, all constituents in the underwriting process can rapidly quote,
collaborate, issue, and bind business on a single, data-powered, real-time
platform. To learn more, call 1-781-863-6000 or visit


Media Contacts:
AIR Worldwide
Kevin Long


FirstBest Systems
Massood Abolfazli



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: AIR Worldwide via Globenewswire


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