Concirrus, the leading insurtech, has extended its partnership with the world’s largest insurers & reinsurers, SCOR. The partnership will see Concirrus replace SCOR’s existing data model, enabling them to more accurately price future risks within its marine line of business.
SCOR and Concirrus announced their working relationship a year ago, when SCOR sought to improve loss ratios within its marine line of business and began working with Concirrus to harness its Marine Hull Market Model and support their own in-house capabilities. The extension of this partnership marks the next step following a successful first year.
Gregory Delaisse, Global Head of Marine for Specialty Insurance at SCOR says: “Maintaining and improving our current book of business is crucial. Building more robust models allows us to do this and it’s great to be working with a technology partner like Concirrus. Key to this partnership is collaboration and Concirrus’ ability to really understand our business and what we’re trying to achieve.”
Concirrus’ marine hull market data leverages the insight of multiple data sources, providing relevant and highly reliable outcomes. Andrew Yeoman, CEO of Concirrus, says: “The marine insurance market is in the eye of a storm with some tough challenges to navigate. Visibility is going to become the new normal. This will come down to having robust data and analytics capabilities because without them, companies will simply disappear. We are enthused by our collaboration with them as an innovative carrier who truly understands data analytics, and we look forward to further extending our work together in the years ahead.”