"XL Catlin is committed to Insurtech innovation, to market leadership in data and analytics for underwriting, and to state-of-the-art enterprise risk management," Nancy Bewlay, the company's global casualty chief underwriting officer, said in a press release dated April 5. "Working with Praedicat allows us to advance all three goals." (Photo: iStock)

Catastrophe modeling firm AIR Worldwide (AIR) today announced that it is collaborating with RenaissanceRe, a global provider of reinsurance and insurance, as part of a joint effort to enhance the industry's modeling of long-tail casualty risk. AIR Worldwide is a Verisk business. As part of the collaboration, AIR is producing portfolio-specific casualty losses based on its exposure management application, Arium. Arium's scenario-based loss assessment framework enables companies to systematically measure portfolio loss potential and exposures to simulated scenarios representing both emerging risks and forward-projected historical events. AIR and RenaissanceRe will work closely to further refine the industry's first fully probabilistic model for extreme liability events.

Duck Creek Technologies has expanded its Partner Ecosystem program through a new relationship with Arity, a technology company founded by The Allstate Corporation that analyzes billions of miles of driving data and other information to generate insights and scores that help insurers better evaluate risk and revolutionize driver safety, connectivity and value. Arity's goal is to fuel new innovation that makes transportation smarter, safer and more useful for everyone.

Octo Telematics, the international provider of big data and analytics services for the insurance and automotive industries is teaming up with SAS, the software and services company, to deliver multi-dimensional analytics and real-time data services such as risk scoring. These services help insurance customers better evaluate risk, price their premiums appropriately and assess accidents accurately. With incentives to improve driving behavior, insurers can encourage safer drivers and have more relevant interactions with their policyholders.