Unifying Risk Management: Empowered a Global Reinsurance Terrorism Leader

Challenges

The client's terrorism reinsurance underwriting faced several limitations:

• Outdated data mapping: Area code-based risk location pinning led to inaccurate risk assessments and pricing.
• Inefficient processes: Manual workflows slowed operations and increased costs.
• Limited real-time data: Lack of current policy details across countries hampered informed decision-making, hindering clash risk assessment and business opportunities in high-risk areas.

These inefficiencies restricted the client's ability to optimize risk management and growth.

Solution

We implemented TRAC, a module within EXACT Advantage, to streamline risk aggregation and empower the client's terrorism underwriters. TRAC offered:

• Real-time data and risk assessment: Integrated Google Maps provided precise geographical coordinates for accurate risk calculations.
• Clash risk identification: TRAC proactively identified overlapping coverage, preventing overexposure.
• Global risk management: The solution facilitated management of risk across 169 countries.
• "Across the Grid" analysis: Micro-analysis of risk in high-profile areas ensured adherence to pre-defined exposure limits.

The Impact

• Increased Revenue- Accurate risk assessment allowed for controlled exposure and capital allocation for new business in key hotspots.
• Cost Savings- Real-time data on risk accumulation streamlined reinsurance buying, making it more cost-effective and targeted.
• Enhanced Efficiency- Leveraging Google Maps minimized costs while maximizing location and policy data accuracy.