Gallagher Re launches automated analysis platform

Global reinsurance broker Gallagher Re has announced the launch of Gallagher Automated Insurance Analytics (GAIA), a proprietary automated analysis platform.

GAIA is a single, integrated platform that hosts all analytics capabilities in one place, said Gallagher Re. The company estimated that combining all functionality on a single platform could reduce by up to 80 % the time required to generate the same level of information using multiple tools.

The advantages of the platform include:

  • Scalability: Using cloud-based technology, GAIA will be able to scale rapidly and globally, and can adapt to Gallagher Re’s growth plans, allowing easy expansion across geographies, industries and sectors. ‘activity and several business units
  • Unique insights: By aggregating and analyzing all of Gallagher’s data, GAIA can offer unique insights into the portfolios and underlying business lines through automated peer analysis, data quality scoring, portfolio optimization and pricing tools.
  • Multi-model view: Clients will have access to a multi-model and more nuanced view of risk through rapid translation of data between disaster modeling platforms and visualization of all risks and portfolios. Clients can refine their view of risk by adjusting modeled exits
  • Operational efficiency: Analysts will be able to spend more time on high-value customer interactions as opposed to manipulating data

GAIA’s capabilities as a single, integrated platform will be developed in three key tranches:

  • Pre-modeling: data collection, enrichment, augmentation and intelligence
  • Modeling: automated and integrated workflows through multi-model APIs and machine learning
  • Post-modeling: pricing, portfolio optimization, e-placement and market overview

“The large investments and rapid development of our broker modeling capability seen around the turn of the century was just the first wave of reinsurance analytical power and potential,” said Ed Messer (pictured above), head of analysis at Gallagher Re. “Value-added analysis consulting, which goes far beyond the reinsurance transaction, is now an accepted and expected part of the customer offering. But many of these legacy systems are bulky and expensive to maintain today; they are struggling to keep pace with technological change. At GAIA, we offer a strategic, long-term alternative that uses the latest cloud-based technology and can be quickly and easily scaled in a thoughtful, commercially viable and impactful way. Our mission is to eradicate low value button-clicking analytics and instead focus on providing higher value consulting services. “

Read more : Gallagher acquires Chicago-area company

“Pushing the boundaries of innovation and creating customer-centric solutions is part of our DNA at Gallagher Re,” said Tom Wakefield, CEO-designate of Gallagher Re. “Above all, innovation requires investing in people. better minds, and that’s exactly what we did, adding new capabilities to existing layers of expertise. Our team now brings together the best talent in the industry in terms of analytical experience, reinsurance architects, actuarial expertise and disaster management. GAIA is the result: a fully scalable global platform that leverages cloud-based technology and that will eliminate a huge amount of inefficiency from current reinsurance analysis practices. This means more time spent advising clients and discussing ideas gleaned from GAIA, and less time turning the handles. GAIA will be a game-changer in the world of reinsurance analysis.

About Gail Mena

Gail Mena

Check Also

Godox launches the Godox V86III, featuring a forward-facing modeling light

Godox has just announced an updated version of the Godox V860II, the Godox V860III. Also …

Leave a Reply

Your email address will not be published. Required fields are marked *