SCOR has announced an expansion of its partnership with Concirrus, which will see the insurtech replace SCOR’s existing data model, enabling the French re/insurer to more accurately price future risks within its marine line of business.
The two firms first announced their working relationship in 2022 when SCOR began harnessing Concirrus’ Marine Hull Market Model to support its in-house capabilities.
The French re/insurer states that the extension of this partnership marks the next step following a successful first year.
Gregory Delaisse, Global Head of Marine for Specialty Insurance at SCOR, commented, “Maintaining and improving our current book of business is crucial.
“Building more robust models allows us to do this and it’s great to be working with a technology partner like Concirrus.
“Key to this partnership is collaboration and Concirrus’ ability to really understand our business and what we’re trying to achieve.”
Concirrus’ marine hull market data leverages the insight of multiple sources, providing relevant and reliable outcomes.
Andrew Yeoman, CEO of Concirrus, said, “The marine insurance market is in the eye of a storm with some tough challenges to navigate. Visibility is going to become the new normal.
“This will come down to having robust data and analytics capabilities because, without them, companies will simply disappear.
“We are enthused by our collaboration with them as an innovative carrier who truly understands data analytics, and we look forward to further extending our work together in the years ahead.”
