Re/insurance service provider, Xceedance has announced that Extraordinary Re, a platform for the daily training of insurance liabilities, will adopt its actuarial and analytics services.
Xceedance will support disciplined underwriting and furnish ongoing, market-relevant information in support of Extraordinary Re’s insurance contracts platform.
This decision has been taken as, according to the announcement, Extraordinary Re has recognized the need to develop strong actuarial models for the risks the company covers.
Lee Van Slyke, chairman and CEO at Extraordinary Re, commented: “We sought an industry-experienced partner with a solid understanding of reinsurance to provide actuarial models of reinsurance submissions.
“Xceedance provides an in-depth understanding of financial risk modelling and reinsurance-specific actuarial support, as well as expertise in organising big data — making it an easy choice for us.”
The actuarial team at Xceedance has significant experience in the global reinsurance market, extensive reinsurance actuarial support capabilities, and access to a network of technology vendors and solutions.
Matthew Duke, SVP and chief actuary at Xceedance, said: “The Xceedance Actuarial and Analytics team is thrilled to work with Extraordinary Re on a distinctive solution for its objectives.
“The opportunity to partner with Extraordinary Re on unique and productive actuarial capabilities is gratifying. We are well positioned for success, as our global team of credentialed actuaries brings a deep understanding of the reinsurance marketplace and our strategic relationships with innovative technology companies provide beneficial support for reinsurers.”