AFL Insurance Brokers has announced the launch of Agile Risk Advisory (ARA), a new specialist business that provides evidence-based risk advice and insurance-linked securities (ILS) opportunities, which will be led by data analytics expert James Poole.
ARA will operate as a wholly owned subsidiary of AFL, and will use insights from big data analytics to look for trends and deliver advice, while also providing consultancy to support the development and structure of new ILS transactions.
The business will be focussed on providing services to broking teams and buyers of both insurance and reinsurance, and will aim to create innovative ways to increase client returns and revenue growth.
AFL has hired Poole as Director of Specialty to spearhead the development of ARA’s business, who brings experience in big data and machine learning sales from his previous role at start-up Geospatial Insight.
Poole’s career also includes roles at Price Forbes, where he started a risk advisory practice, and at Arthur J. Gallagher & Co., where he launched a Latin American-focused facultative reinsurance team.
Toby Esser, Chairman of AFL, said: “We see gaps in the market for innovative solutions that reduce the cost of covering risk, as well as new risk and insurance-based opportunities that deliver increased returns.
“James is ideally positioned to help clients close these gaps, bringing a wealth of expertise and fresh thinking. I am delighted that AFL has attracted a talented and forward-thinking professional like James to launch and grow ARA, and explore new opportunities in the value of risk and (re)insurance arrangements.”
Bob Finch, Chief Executive Officer (CEO) at AFL, also commented: “James has a clear entrepreneurial spirit and is a very welcome addition at AFL. There’s great satisfaction in being able to liberate and empower free thinking, innovative minds like James to take risks, be brave with their decision making and challenge the norms of our industry.”
Poole added: “I’m looking forward to demonstrating how big data and data analytics are fundamentally changing the (re)insurance market. My work will involve developing new techniques that allow us to evidence the impact of risk, together with new kinds of risk management, retention, transfer, and prevention strategies – always with a view of increasing value for clients.”
