Aon and Praedicat Expand Casualty Collaboration to Deliver New Emerging Risks Solutions to Insurers
In 2020,
While property catastrophe exposures are at the forefront of many re/insurers' strategic approach, two of the three largest loss events in the history of the property casualty sector were due to casualty emerging risks - those being related to asbestos and the environment.
To monitor and analyze new emerging risks trends, Praedicat's technology platform leverages artificial intelligence and natural language processing to scan millions of scientific and other scholarly sources. Once new risks are identified, quantitative models are created to translate the scholarship into estimates of the risk of loss. These models can be used to identify historical and future reinsurance coverage gaps, and provide a basis for the design and implementation of innovative new solutions to close the gaps.
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Global Property And Casualty Insurance Market Is Projected To Grow At A 7.6 % Rate Through The Forecast Period
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