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"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." “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.

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