Global specialty (re)insurer Canopius has announced that it will be using software firm Allphins solution for treaty energy.
The firms said in a mutual statement that the new software would allow it to digitise unstructured submission data, identify every single risk, enrich them with external data and generate actionable insights, pre-binding.
Claire Wallace, head of marine treaty at Canopius, said: “The ability to continually monitor and dynamically analyse these core exposures is of paramount importance to our treaty portfolio. We are confident that Allphins’ cutting-edge technology aligns with our strong existing focus on exposure management processes, whilst also providing the team with an accessible software through which real-time, analytically driven underwriting decisions around portfolio optimisation can be made.”
Allphins is a multi-line solution and covers the speciality risks spectrum including energy, political and financial lines, casualty, contingency and terrorism.
Laurent de la Porte, CEO of Allphins, said: “We are very excited to welcome Canopius to our growing community of reinsurers. Working with over 15 clients allows us to have good coverage of the market and interpretation of the risk data type, which translates into improved product solutions and greatly benefits our community. We are convinced this partnership with Canopius will be fruitful for the reinsurance industry at large.”
Canopius is one in a long line of firms that have signed up with Allphins over the years. As Reinsurance News has reported, other companies signing up for the software include Chaucer, Ariel Re, MS Amlin, and TransRe.
The news comes the same month that Canopius announced that it was launching its own technology and data hub in the UK city of Manchester.
The hub will begin operating early next year, said Canopius, and will ensure that that company is developing the best possible solutions within the data and technology sphere, while also supporting its strategic goals to become a “future-focused” business.
