Aviva enhances exposure management

Aviva’s exposure management capability has been streamlined, following the implementation of a new software.

The insurer is now revealing a partnership with insurance software company Symfos, which began in 2021.

The solution, Orchestra, allows Aviva to visualize risks and automate data processing. The software helps insurers navigate catastrophic events by offering a “rapid and accurate assessment” of how unfolding events impact their portfolio. Symfos claims to be the first independent provider in the market to aggregate exposure and loss data from all major modeling vendors.

Since Aviva started using Orchestra, the portfolio roll-up process has been streamlined, with the time taken reduced by 60-70%.

“The use of new technology has transformed our exposure management capabilities, meaning we’re more agile and efficient, and can provide a better service to brokers and clients. As a business we’re always keen to enhance risk decisions, harness efficiencies and embrace new technologies to stay innovative, and this is exactly what we’ve been able to achieve here.” – Karen Dayal, Chief Underwriting Officer Commercial Lines at Aviva.

“Our mission is to provide the (re)insurance industry with the best-in-class Pricing and Portfolio Management solution through our Orchestra platform. Through the collaborative work in extending Orchestra with Aviva, we are one step closer to achieving our goal.” – Bao Cam, Managing Director and founder of Symfos.