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Guy Carpenter, Numerati Partners join hands to launch InsurTech Alliance

IBR Staff Writer Published 19 July 2018

Risk and reinsurance company Guy Carpenter has partnered with Numerati Partners to launch InsurTech Alliance.

Guy Carpenter will host the Scientific and Engineering Expo, where insurers will be given the opportunity to test-drive the InsurTech Alliance and engage with Guy Carpenter, Numerati Partners, and the Numerati Partners’ ecosystem of technical experts leading the digital technological revolution.

It will also feature exhibits, hands-on demonstrations and presentations by InsurTech vendors.

The InsurTech Alliance is claimed to be a cost effective insurer-focused suite of capabilities to help carriers in evaluating new innovations across data, analytics and digital technology-based products and solutions.

This InsurTech Alliance will be part of Guy Carpenter’s expanded InsurTech offering designed to meet the desires of its clients and to understand and leverage the dynamics in InsurTech while bringing profitable growth.

Guy Carpenter global chief innovation and product development officer Claude Yoder said: “We formed the InsurTech Alliance after listening to our clients and the challenges they face taking advantage of the new capabilities offered by start-up companies.

“There is clearly growing interest in keeping pace with innovations impacting all steps of the insurance value chain. Because the InsurTech space is moving so quickly, you need unique technical skills to understand and test which new capabilities are going to work for you.”

It has been developed in collaboration with Numerati Partners and its affiliated ecosystem comprised of scientists, engineers, academic institutions, public and private sector entities and non-governmental organizations.

The alliance is claimed to be combine Guy Carpenter’s (re)insurance and risk management capabilities with Numerati Partners’ technical capabilities, science and engineering expertise and direct industry experience within risk technologies and R&D, along with financial and insurance sector innovation.

It will allow insurers to inform their management with technological intelligence validated by scientists and engineers. It offers participants, operational advantage in adding new capabilities that may help them grow, increase profit and future proof their businesses.

Yoder continued saying: “There are over 50 new start-up companies formed each month. Technologies are evolving so rapidly that it is critical for insurers to have resources with intimate knowledge of these changes to keep pace.

“Guy Carpenter, with the help of Numerati Partners and their ecosystem of universities and engineering firms, can now offer our clients and prospects the technical intelligence and infrastructure to help them identify, evaluate, and test selected InsurTech products and leverage innovation for a competitive advantage.”

Image: Guy Carpenter partners with Numerati to develop InsurTech Alliance. Photo Courtesy of rawpixel/Unsplash