Chaucer and Allphins Team Up on Energy Risk

Chaucer, the international specialty (re)insurance group, and Allphins, the exposure management platform for specialty risks, have entered a long-term partnership. Chaucer will use the Allphins platform to gain the insights needed to fully control its Energy Reinsurance risk accumulation, allowing for better decision making and for richer discussions with its partners.

Limited and unstructured data is often the root cause of low confidence in exposure management figures, leaving risk professionals unable to fully control the amount, and the quality, of risk sitting in their book.

“One of the biggest challenges we face is accurately monitoring our exposure pre and post placement,” says Chris Baker, Head of International and Specialty Reinsurance at Chaucer. “Allphins enables our underwriters and exposure managers to pinpoint with greater precision our exposure over time. Not only are we able to generate ad-hoc reports on live events, but we can also assess the marginal impact of a new portfolio and plan for the future. The best part is that it’s all within a single, user-friendly, interface.”

Allphins has developed a differentiated technology that enables (re)insurers to upload and identify their risks, enrich them with external data, and access decision-ready insights within minutes, as opposed to weeks. Allphins platform improves the transparency, granularity and efficiency of exposure data, allowing for faster and better decision making.

Built on new technologies, such as machine learning, the Allphins platform can automatically extract and identify risks included in underwriting submissions and enhance them with external data and third-party sources.

“We are excited to partner with a leading, global (re)insurer such as Chaucer, that clearly values the benefits of digital transformation.” Laurent de la Porte, CEO of Allphins says.  He adds: “Our relationship with Chaucer dates back to the Lloyd’s Lab and they played a key role in helping us to improve our offering. We look forward to future developments with Chaucer.”

About alastair walker 7107 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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