Allphins, the energy insurtech company, and TransRe, the global reinsurer, have announced a partnership to develop a data analytics platform for offshore energy reinsurance.
TransRe will use Allphins software to digitalize its treaty reinsurance contracts, constantly monitor its aggregate exposures, and identify attractive market opportunities. “Managing offshore energy exposures presents numerous challenges, given the diverse asset ownership structures, and the inconsistent naming of installations,” said Laurent de la Porte, CEO of
Allphins. “Allphins allows energy (re)insurers to unlock efficiencies using technologies such as our risk identification engine and aggregation scenario generation tool. We are very pleased to be working with TransRe, a company that clearly understands the many advantages of adopting new technologies in specialty (re)insurance.”
“We are excited by the opportunities that our partnership with Allphins offers,’ said Graham Daly, TransRe London’s Marine & Offshore Energy Leader. “The Offshore Energy industry is complex, involving many assureds, and overlapping insurance coverages. Allphins’ technology will provide a complete and transparent picture of the risks, which in turn will improve our service to our customers and their brokers.”
Allphins is an artificial intelligence software solution for insurers and reinsurers. Combining a large dataset and the latest technologies, Allphins enables energy (re)insurers to unlock additional value through better and faster underwriting decisions. Allphins is part of the Lloyd’s Lab Cohort 3, an
innovative incubator programme within the Lloyd’s of London, and based in Paris and London.
TransRe is the brand name for Transatlantic Holdings, Inc. and its subsidiaries (including Transatlantic
Reinsurance Company and TransRe London Limited). TransRe, wholly owned by Alleghany Corporation, is a reinsurance organization headquartered in New York with operations worldwide.
Since 1977, TransRe has offered its clients the capacity, expertise and creativity necessary to structure programs across the full spectrum of property and casualty risks.
Visit www.transre.com for additional information.
For information please contact:
Antonin de Benoist
London, 30 January 2020