Although some insurance company executives say they are now using analytics, others say they’re still on the fence about it or only beginning to explore its possibilities.
INSURANCE ADVOCATE® TO HIGHLIGHT U.S. RE ANALYTICS TEAM AND RESOURCES IN AUGUST ISSUE
Pearl River, N.Y. - June 24, 2014 - U.S. RE Analytics has been named “Top Analytics Resource” by the 125-year-old fortnightly Insurance Advocate® magazine and will be the subject of a feature story in the magazine’s August 18th issue. InsuranceAdvocate® selects top-performing insurance and reinsurance entities for its highlighted features six times per year. The article will profile the U.S. RE Analytics battery of resources and its leadership team, led by Marc Piccione and Jim Campbell. The Insurance Advocate® cited U.S. RE Analytics catastrophe risk management and analysis tools “which surgically and meaningfully enhance the analyses performed on clients’ exposures,” according to the magazine.
U.S. RE quickly recognized the burgeoning analytics field and the increasingly important role it was to play in enhanced risk analysis in the development of the field, according to Mr. Piccione, Senior Vice President: “Early on it was as much a marketing strategy as a true product offering; today, providing relevant and granular analytics, well beyond mere catastrophe modeling is an essential part of the arsenal of any top-level participant in the insurance/reinsurance space. At U.S. RE, we are proud of the risk management tools we have developed that give us a strong competitive edge on the world’s stage. We are gratified that the Insurance Advocate® has singled us out for this feature, providing an even wider audience to hear our clarion call to the industry to embrace analytics actively and to commit to developing and even improving analytical capabilities to benefit clients and their enterprises alike.”
Some of the ahead-of-the-state-of-the-art innovations that distinguish the U.S. RE Analytics platform, according to Mr. Campbell, include: U.S. RE Risk Manager – an easy to use, highly customizable web-based portfolio management tool that provides clients with the ability to manage profitability by identifying key cost-of-risk drivers such as the cost of reinsurance and the cost of capital, while pinpointing areas to expand writings in order to build a better-diversified and more profitable portfolio. Mr. Campbell stated: “In addition, the U.S. RE Analytics platform also includes IRIS U.S., which is a distinctly powerful, web-based, analytical tool that provides risk management professionals in executive, product management, underwriting and claims functions reliable insights into key exposures in catastrophe-prone territories. IRIS U.S. aggregates data from various state and federal entities and transforms it all into remarkably clear analytical reports that allow the user, interactively, to apply the data for detailed risk exposure trending.”
U.S. RE Companies, founded in 1988, has seven offices on four continents. U.S. RE, with 75 professionals that include some of the industry’s most experienced and well-regarded reinsurance brokers, is presently expanding its presence in other countries with emerging markets.
Insurance Advocate®, founded in 1853 in Philadelphia, published there until 1888, and then restarted in New York in 1889, is believed to be the oldest continuously published insurance magazine in the U.S., serving 15,000 readers principally in New York, New Jersey, Connecticut, Pennsylvania and Washington DC.