Apollo, the London-based independent specialist insurer and reinsurer, announced a three-year agreement with Praedicat, the California-based emerging risk analytics and modeling company, that will deploy Praedicat’s technology and data for Apollo’s underwriting and portfolio management.
Praedicat’s CoMeta™ platform creates underwriting insights using technology that searches and reads published biomedical and legal academic research investigating emerging risks from commercial products and activities, and from court dockets. CoMeta connects the risk information extracted by the technology to 128,000 profiled companies. The result is an unprecedented emerging risk underwriting resource.
“Emerging risk has historically been a challenging area for underwriters to address,” said James Slaughter, Apollo’s group chief underwriting officer. “With Praedicat’s technology, we provide our underwriters with cutting-edge insights, our capital providers with the confidence that our portfolio is contemplating emerging risks, and our customers with the coverage they need to navigate an increasingly complex litigation environment.”
“Our new engagement with Apollo explicitly includes collaboration to create new and innovative emerging risk coverages for Apollo customers. Apollo’s record with insurance product innovation is second-to-none in the Lloyd’s market and robust and tailored coverage is keenly needed in the market,” commented Praedicat Chief Executive Robert Reville.
“Apollo’s commitment to being the finest underwriters in the market is unwavering,” said Colm Lyons, Apollo’s head of Casualty. “For casualty, when our people have access to the best data and technology on emerging risk, delivered into an efficient underwriting workflow to yield optimum results, we are fulfilling that commitment.”
About Praedicat
Established in 2012, Praedicat is based in Los Angeles, with offices in New York and London. Praedicat helps companies identify, model, and manage current, emerging, and emergent liability risks, allowing them to adopt new approaches to casualty risks, and to translate them into actionable business opportunities for sustainable, profitable growth.
Source: Praedicat
Topics Trends Carriers New Markets Reinsurance
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