Reinsurance News

Archipelago expands property risk capabilities

26th January 2022 - Author: Katie Baker

AI-driven technology platform Archipelago has enhanced its solution to address exposures among buyers from its corporations with insurable property assets.

Archipelago’s new enterprise solutions for its SaaS platform include cloud management of property data, AI-enhanced enrichment of geo-coding, COPE and cat-risk data, data insights and benchmarking.

Its new product capabilities include the Smarter Statement of Values, custom portfolio attributes, exposure filters, analytics and highlights, secure portfolio sharing with marketplace partners.

It also provides a library for evidentiary document collaboration and automatic linking with properties, along with AI and human enhancement of SOV data, and reports of portfolio readiness, engagement and underwriting assessment.

LVMH’s Group Risk Management Director, Alain Lagesse commented: “We chose Archipelago to create and manage the most current, interactive and comprehensive representation of our portfolio property risk data to drive better engagements with the markets and superior outcomes.”

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Ed Nekritz, Chief Legal Officer and General Counsel of Prologis said: “Digital, and data-driven decisions are fundamental to how we run our business. This includes how we manage our risk and insure our properties.

“We chose Archipelago to increase the connectivity and comprehensiveness of the detailed data we use to define our exposures. Archipelago’s already made an impact, including by supporting our recent Catastrophe Bond.”

Hemant Shah, CEO, and co-founder of Archipelago added: “With over $7 trillion in total insurable value now managed on Archipelago, we are quickly emerging as the system of record for property owners’ collection, management and enhancement of asset risk data.

“Institutional commercial real estate businesses like Prologis and JLL have found tremendous value in the use of Archipelago. We’re thrilled to be expanding our platform to corporations like LVMH who may not own the real estate they operate in but still have a need to organize their risk data in a centralized, AI-powered platform.”

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