SANTA ANA, CA -- -Conversion of Critical Parcel Information Improves the Accuracy of Location-based Solutions- The First American Corporation (NYSE:FAF), America's largest provider of business information, announced today that its First American Spatial Solutions (FASS) business unit has reached the 100 million parcel mark as part of an ongoing effort to create a national parcel database.
The database includes digitally converted and normalized parcel information and points for more than 2,100 counties and townships in the United States. By utilizing parcel information, companies can improve the accuracy of location-based applications and analytical solutions. FASS is currently making this dataset available as part of its ParcelPoint(TM) solution.
"The GIS space is evolving toward higher accuracy base data. Parcel geometry provides one of the best ways to improve the accuracy of many location-based applications and analytical solutions. Parcel data provides an ability to assign more accurate latitude and longitude coordinates for precise positional accuracy," said David Sonnen, senior consultant at International Data Corp (IDC). "First American has put a lot of effort into building a national parcel database. Reaching the 100 million mark is not only good for the company, but to the industry as a whole."
First American Spatial Solutions' goal is to capture property data throughout the entire country to create the first complete national parcel database. The company plans to expand its database to include 110 million parcels by the end of 2008, which will include approximately 80 percent of the country's parcels. Because parcels are constantly changing, the parcel information stored in the database will be regularly updated.
ParcelPoint complements First American's vast portfolio of data resources to allow industries to accurately locate properties for asset management and property-level risk assessment. Parcels are used by a variety of industries including insurance, utilities, energy, real estate and telecommunications for identifying correct property locations for compliance, tax and risk management purposes. When used with the company's PxPoint geocoder, a high-precision, parcel-level geocoding and spatial analytic engine, customers can achieve the highest level of positional accuracy for any spatial application.
"As First American continues to lead the way in the creation of a national parcel database, we are providing customers with access to critical information that is unparalleled in its accuracy and currency," said Scott Little, executive vice president for First American Spatial Solutions. "When paired with First American's PxPoint solution, users get the one-two punch of a next generation geocoder with the nation's most comprehensive database of parcel information."
For more information on ParcelPoint visit http://www.location.firstam.com/. For more information on PxPoint, please visit http://www.proxix.com/ or contact a First American sales representative at (888) 867-4208.
About First American
The First American Corporation (NYSE:FAF) is a FORTUNE 500 company that traces its history to 1889. With revenues of approximately $8.2 billion in 2007, it is America's largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumer 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, Information and Outsourcing Solutions, Data and Analytic Solutions and Risk Mitigation and Business Solutions. More information about the company and an archive of its press releases can be found at http://www.firstam.com/.
Media Contact:
Carrie Gaska
Corporate Communications
The First American Corporation
(714) 250-3298 - cgaska@firstam.com
Investor Contact:
Mark Seaton
Investor Relations
The First American Corporation
(714) 250-4264 - mseaton@firstam.com
First Call Analyst:
FCMN Contact:
Source: The First American Corporation
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| Notes:
CONTACT: Media, Carrie Gaska, Corporate Communications, +1-714-250-3298,
cgaska@firstam.com, or Investors, Mark Seaton, Investor Relations,
+1-714-250-4264, mseaton@firstam.com, both of The First American Corporation
Web site: http://www.firstam.com/
About This Release
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