Specialty insurance broker and investment banking platform CAC Specialty has entered into a new strategic partnership with consulting firm Liberty Advisor Group.
Together, Liberty Advisor Group and CAC Specialty will work to create a new solution for insurance clients through a real-time data analytics platform.
The platform will allow clients to analyse real-time information, with the aim of improving risk and financing decisions through quantitative and qualitative tools, alongside third-party data delivery.
Additionally, the company’s plan to streamline legal processes and provide AI-powered document analysis to reduce time spent on risk management activities and improve operational capabilities.
“We are excited to partner with two world class firms in Liberty Advisors and Cybeta,” said Eric Joost, Executive Vice President and Chief Technology & Global Markets Officer, CAC Specialty.
“CAC Specialty executives have long held the vision of digitizing all elements of the insurance ecosystem – advisory, brokerage, service, operations through technology complimented by colleagues and clients,” Joost continued.
“With the addition of the data analytics platform, we will further enhance a key component of client experience by further enabling highly informed risk and risk financing decisions.”
Cybeta, a cyber data science company incubated and recently spun out of Liberty Advisor Group, will further enhance the solution with their predictive Threat Alpha and Threat Beta metrics.
The Threat Alpha tool calculates the financial and business impact of a cyber attack to an organisation, highlighting cybersecurity priorities and informing technology ROI decisions.
“We are so excited to partner with CAC Specialty on this innovative, groundbreaking project,” said Chad Smith, CEO of Liberty Advisor Group. “Our goal is to better serve the needs of brokers, underwriters and customers by bridging technology and customer needs with the power of data analytics.”
