Lockton Re adopts Insurity’s geospatial analytics solution
Insurity, a provider of cloud-based core system solutions and data analytics, announced that Lockton Re will be utilizing Insurity’s SpatialKey Exposure Management and SpatialKey Event Response solutions to power its risk advisory services. The solutions provide intuitive, geospatial analytics, expert data, and visualizations to deliver actionable intelligence for portfolio risk analytics.
“We required a sophisticated analytics solution that can visually illustrate the impact of catastrophe risk on a book of business. Not only does the SpatialKey solution deliver insights that we can easily use to analyze our client portfolios and help guide strategy, but Insurity’s robust data partnerships will help scale our business over time based on clients’ needs. This partnership is an important component of our multifaceted Analytics Platform.” – Claude Yoder, head of analytics for Lockton Re.
SpatialKey Exposure Management will enable Lockton Re to advise its insurer clients on how to better understand their risk profiles, and manage those risks to subsequently improve portfolio health. The cloud-based platform can help insurers develop a comprehensive and cohesive view of risk by exploring correlations among exposure, modeled loss, and hazard data, and through examining risk drivers and regional concentrations. SpatialKey Event Response will further enable Lockton Re to support its clients in quantifying their potential and key drivers of exposure to a live, recent, or historical catastrophe event.