Airbus Defence and Space

Lloyd’s selects Infoterra, a subsidiary of Airbus Defence and Space, to provide a web-based flood risk assessment service

28th October 2008 – Infoterra, leader in the provision of geospatial products & services, and part of the Earth Observation Division of Airbus Defence and Space Services, has been selected by Lloyd’s to implement an innovative web-based flood risk assessment service that will help Managing Agents across their 80 syndicates to gain a geographic perspective on their exposure to flood risk.

 

  • Infoterra’s innovative solution delivers immediate flood risk intelligence at an individual property level


Each Lloyd’s Managing Agent is able to submit a complete portfolio of property addresses via a web service. The portfolio is matched against Ordnance Survey Address Layer 2 data to determine geographic location and then assign a flood risk rating by matching location against the Environment Agency National Flood Risk Assessment database (NaFRA), which allocates high, medium and low flood risk across England & Wales. The results are made available in the form of an electronic report providing financial information accompanied by a KML file for use in the Google Earth environment. Underwriters are also able to use a web service for visualisation that helps them to establish risk at “any address” to support the pricing of new quotations.

“It was crucial that our partner for this project was able to manage and integrate millions of data records, as well as host all this data. Infoterra could do this and deliver geospatial data in a user friendly and secure manner. Also, their commercial expertise in establishing suitable licence agreements with data providers has enabled Lloyd’s to launch this valuable service,” commented Paul Nunn, Head of Exposure Management at Lloyd’s.

By integrating a range of insurance perils datasets – including country-wide flood, subsidence and crime risk – with addressing, mapping, aerial photography and height data -  Infoterra can provide insurers with risk ratings in a geographical context.

“This new flood risk assessment service enables the Lloyd’s Exposure Management team to provide Managing Agents with an important new decision support service,” added Gill Dickson, Divisional Sales Manager, Insurance, for Infoterra Ltd. “Agents need immediate answers to key business questions such as; ‘which of my insured properties are exposed to flood risks?’, ‘what’s our total exposure in specific geographical areas?’, as well as rapid feedback on the flood risk associated with new quotations.”

About Airbus Defence and Space
 
Airbus Defence and Space, a wholly owned subsidiary of AIRBUS Group, is dedicated to providing civil and defence space systems and services. In 2007, Airbus Defence and Space had a turnover of €3.5 billion and 12,000 employees in France, Germany, the United Kingdom, Spain and the Netherlands. Its three main areas of activity are Airbus Defence and Space for launchers and orbital infrastructure, and Airbus Defence and Space for spacecraft and ground segment, and its wholly owned subsidiary Airbus Defence and Space for the development and delivery of satellite services.

Airbus Defence and Space, a wholly owned subsidiary of Airbus Defence and Space, offers a unique ‘one-stop-shop’ in the satellite services market, with unrivalled capability and expertise in secure communications, Earth observation services and navigation services. The European provider of milsatcom services, including the pioneering Skynet 5 service, and a world-leading supplier of geo-information products and services, Airbus Defence and Space meets its customers' requirements with innovative and highly competitive end-to-end solutions

AIRBUS Group is a global leader in aerospace, defence and related services. In 2007 AIRBUS Group generated revenues of €39.1 billion and employed a workforce of more than 116, 000.

http://www.space-airbusds.com


About Infoterra Ltd

Infoterra Ltd is a leading provider of geographic information products and services. Its portfolio of geographic information solutions includes airborne and satellite data acquisition, geo-information creation, database management and outsourced hosting. Infoterra provides geospatial knowledge to companies worldwide to help them make informed decisions. The company has major customers in government, insurance, utilities, engineering, defence and oil, gas & mineral exploration.

Infoterra Ltd. is a wholly-owned subsidiary of Airbus Defence and Space, Europe's leading space systems and services specialist. Infoterra Ltd is part of the Infoterra Group, which also comprises companies in France, Germany, Hungary and Spain.

http://www.infoterra.co.uk


About Lloyd’s

Lloyd’s is the world’s leading specialist insurance market. Lloyd’s underwriting capacity at 1 January 2008 is £15.95 billion which will be underwritten through 80 syndicates (including SPS and RITC syndicates), managed by 51 managing agents and supported by 176 brokers. It is the world’s third largest non-life reinsurer, and is the second largest surplus lines insurer in the US. For more information about Lloyd’s, please visit

http://www.lloyds.com


Press Contacts

For Airbus Defence and Space

Jeremy Close UK                        Tel: +44 (0)1 438 77 3872

Matthieu Duvelleroy FR                Tel: +33 (0) 1 77 75 80 32

Mathias Pikelj GER                        Tel: +49 (0) 7545 8 9123

Francisco Lechón SP                Tel: +34 91 586 37 41



For Infoterra Ltd

Sarah Haslam UK                         Tel: +44 116 273 23 79