The collaboration integrates Swiss Re’s CatNet natural catastrophe risk data with the SAS Insurance Life Cycle Accelerator. By moving away from manual data manipulation and fragmented spreadsheet logic, the partnership aims to provide insurers with automated decision-making tools that incorporate machine learning and predictive hazard insights. This approach allows companies to assess concentration risk and perform what-if analyses across diverse geographies.
SAS and Swiss Re Join Forces to Automate Catastrophe Risk Underwriting
As secondary climate perils like floods and wildfires account for nearly 100% of insured catastrophe losses in the U.S., SAS and Swiss Re have launched a partnership to embed real-time hazard intelligence directly into insurance underwriting and actuarial workflows.
The initiative addresses a critical shift in the insurance sector where historical loss data is no longer sufficient to predict risk. According to Stu Bradley, Senior VP for Risk, Fraud and Compliance Solutions at SAS, the goal is to provide more transparent and resilient decision-making. The companies report that the integration could improve decisioning efficiency by 95% and allow underwriting teams to review 40% more risks with existing staff levels. Ali Shahkarami, Head of Risk Data Solutions at Swiss Re, emphasized that the technology is designed to help carriers close protection gaps by enabling near-real-time responses to evolving portfolio risks.
Comments (0)
No comments yet. Be the first!