Praedicat, a liability emerging risk analytics company, has announced its collaboration with Experian, an information services company, to deliver a new company and portfolio analytics tool for underwriters of Directors and Officers (D&O) insurance coverage for US companies that be publicly traded.
According to the announcement, the CoMeta Pro integrates into the dashboard of Praedicat’s emerging risk and underwriting software CoMeta, and intuitively presents two simple scores.
One reflects Praedicat’s assessment of the potential insured’s exposure to emerging litigation risk, and the other was developed by Experian’s DataLabs that reflects the company’s extensive firmographic data in the form of Experian’s Predictive D&O Model.
Together, they analyze vast amounts of data to give underwriters an instant overview of the “holistic” D&O risk of each of approximately 5,000 listed U.S. companies, Praedicat noted.
“We are delighted to be working on CoMeta Pro with Experian, a global leader in risk data and modelling,” said Praedicat CEO Robert Reville. “Experian’s enormous database of management information on listed companies is an extraordinary resource for casualty insurance and will make D&O underwriting more profitable and manageable.”
CoMeta Pro can also be used as a portfolio analysis tool. This is because of its systemic risk modeling, it enables users to quickly assess systemic risk across portfolios and identify D&O-General Liability collision risk arising from mass litigation events.
Users can also use the tool to deeply analyze the head scores to understand in detail each of the individual factors that affect the target company’s litigation risk, along with the “reason codes” that drive Experian’s risk scores.
Brian Bond, SVP of product, marketing and strategy for Experian Business Information Services, said: “As a leading provider of business data and analytical insights on more than 28 million active US businesses and third-party verified information on 99.9 percent of all American companies, can give us a compelling view of D&O risk that is not typically used today.
“With these insights, we are excited to combine our predictive Experian D&O model with Praedicat’s role as a trusted provider of casualty insurance modeling to enable the next generation of insurance.”