Independent specialist re/insurer, Apollo has announced a new, three-year agreement with Praedicat, a California-based emerging risk analytics and modelling company, to harness emerging risk insights.
Through this partnership, Apollo will be able to use Praedicat’s technology and data for its underwriting and portfolio management.
“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.”
Praedicat’s CoMeta platform, the firm explained, 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.
Praedicat Chief Executive Robert Reville commented: “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.”