Praedicat and Experian create a new A&D insurance coverage tool – Reinsurance news
- on Sep 02, 2022
Praedicat, an emerging liability risk analysis company, announced its collaboration with Experian, an information services company, to provide a new business and portfolio analysis tool to underwriters of liability coverage. directors and officers (D&O) insurance for US publicly traded companies.
According to the announcement, the CoMeta Pro integrates into the dashboard of Praedicat’s emerging risk and underwriting software, CoMeta, and intuitively presents two simple scores.
One reflects Praedicat’s assessment of the policyholder’s potential exposure to emerging litigation risk, and the other was developed by Experian’s DataLabs reflecting the company’s extensive firmographic data in the form of the Experian’s D&O predictive model.
Together, they analyze large amounts of data to give underwriters an immediate overview of the “holistic” D&O risk of each of the roughly 5,000 publicly traded U.S. companies, Praedicat noted.
“We are delighted to be working on CoMeta Pro with Experian, a global leader in data and risk modeling,” said Robert Reville, Managing Director of Praedicat. “Experian’s huge database of listed company governance is an amazing resource for property and casualty insurance and will make D&O underwriting more profitable and manageable.”
CoMeta Pro can also be used as a portfolio analysis tool. Indeed, through its systemic risk modeling, it allows users to quickly assess systemic risk across portfolios and identify the risk of D&O-general liability conflict resulting from mass legal events.
Users can also use the tool to drill down into securities scores to gain a detailed understanding of each of the individual factors that impact the target company’s litigation risk, as well as the “reason codes” that determine Experian’s risk scores.
Brian Bond, SVP of Product, Marketing and Strategy for Experian Business Information Services, said, “As the leading provider of business data and analytical information on more than 28 million active U.S. businesses and information verified by third of 99.9% of all American businesses. , we can provide a compelling view of D&O risk that is not generally used today.
“With this insight, we are excited to combine our Experian D&O predictive model with Praedicat’s role as a trusted P&C insurance modeling provider to enable next-generation insurance.”