Brazilian reinsurer IRB Brasil Re is partnering with Aon Resseguros on a tool that allows insurers to analyse the risk exposure of their life and home insurance portfolios and technically estimate possible losses with claims.
The analysis will also enable shaping custom-designed coverage products for the pandemic, meeting the expectations of the policyholders.
A probabilistic model quantifies the impact of the pandemic on the insurance portfolios, using data from different countries globally.
“We live an unprecedented moment and developing and offering a customed-developed modeling for our customers and their policyholders place us as the avant-garde,” said chairman of the Board of Administration and acting CEO of IRB, Antonio Cassio dos Santos.
“We secured a strategic alliance with Aon and shaped an exclusive solution meeting the needs of the Brazilian market.”
The CEO of Aon Resseguros Brasil, Antonio Jorge Rodrigues, added, “We perform frequent adverse mortality modeling exercises for large customers.
“We structured, together with IRB, a tool that will allow the proper support to insurer to be given, adapting the model to completely meet thoroughly the needs of the life and home insurance portfolios of each company.”