Bermuda-based property and casualty re/insurer, Sompo International has expanded its partnership with life science and healthcare data analytics firm Pharm3r in a move aimed at enhancing its US life sciences risk modelling capabilities.
Pharm3r’s data services are already leveraged by Sompo’s Bermuda excess casualty unit.
Now, Its data sets and analytics will now also be deployed by Sompo’s Global Risk Solutions’ life sciences team.
Sompo hopes this will lead to faster turnaround times for clients and brokers while enhancing the team’s risk modelling capabilities for its life sciences accounts.
“For many years, Sompo International has served clients in various segments across the life sciences industry, relying on a range of data sets and predictive analytics to make underwriting decisions quickly and with confidence,” said Shannon Totten, Senior Vice President, Casualty Insurance Practice Leader Bermuda for Sompo International.
“We are thrilled to expand our partnership with Pharm3r to support the underwriting and risk modeling capabilities offered by our U.S. colleagues who focus on serving clients in this dynamic sector.”
Todd Lauer, Senior Vice President and leader of the Sompo GRS Life Sciences team commented, “Our partnership with Pharm3r will provide our life sciences team with an expanded data set, strengthening our ability to assess and service each account.
“The ability to combine our expertise in the life sciences industry with Pharm3r’s state-of-the-art analytics will enhance the white glove service we deliver to our clients.”
Libbe Englander, Chief Executive Officer of Pharm3r added, “We are thrilled to continue working with Shannon and expand our partnership with Sompo International to include Todd Lauer and the Sompo GRS Life Sciences team.
“Their deep industry expertise, global reach and commitment to innovation makes them an ideal collaborator for Pharm3r. We look forward to helping Sompo GRS enhance the risk management capabilities they provide to clients throughout the life sciences industry.”