Sompo announces “enterprise-level partnership” with Praedicat

Bermuda-based Sompo International is expanding its partnership with emerging liability risk analytics business Praedicat.

According to the specialty property and casualty re/insurer, it will use Praedicat’s emerging risk framework, probabilistic liability catastrophe model and new litigation tracking capability to support “proactive management” of its global casualty portfolio.

“We are thrilled to be expanding our longstanding partnership with Praedicat,” said Shannon Totten, Sompo International SVP and Bermuda casualty insurance practice leader.

“For over a decade, we have been pushing the boundaries at the intersection of underwriting and technology in casualty with the aim of helping create a more responsible marketplace for us to operate in.”

Chris Gallagher, CEO of Sompo International commercial P&C, said: “Technology is changing the ways casualty insurers underwrite and manage risks. Our Excess Casualty team in Bermuda have been pioneers in using third party analytics to price and manage casualty portfolio risk. Through an enterprise-level partnership with Praedicat, we are pleased to expand our current North American complex casualty analytical approach to our International and Reinsurance platforms.”