Chaucer Partners with Allphins for Exposure Management
Chaucer, the international specialty (re)insurance group, and Allphins, the exposure management platform for specialty risks, have entered a long-term partnership. Chaucer will use the Allphins platform to gain the insights needed to fully control its Energy Reinsurance risk accumulation, allowing for better decision making and for richer discussions with its partners.
Limited and unstructured data is often the root cause of low confidence in exposure management figures, leaving risk professionals unable to fully control the amount, and the quality, of risk sitting in their book.
“One of the biggest challenges we face is accurately monitoring our exposure pre and post placement” says Chris Baker, Head of International and Specialty Reinsurance at Chaucer. “Allphins enables our underwriters and exposure managers to pinpoint with greater precision our exposure over time. Not only are we able to generate ad-hoc reports on live events, but we can also assess the marginal impact of a new portfolio and plan for the future. The best part is that it’s all within a single, user-friendly, interface.”
Allphins has developed a differentiated technology that enables (re)insurers to upload and identify their risks, enrich them with external data, and access decision-ready insights within minutes, as opposed to weeks. Allphins platform improves the transparency, granularity and efficiency of exposure data, allowing for faster and better decision making.
Built on new technologies, such as machine learning, the Allphins platform can automatically extract and identify risks included in underwriting submissions and enhance them with external data and third-party sources.
“We are excited to partner with a leading, global (re)insurer such as Chaucer, that clearly values the benefits of digital transformation.” Laurent de la Porte, CEO of Allphins says. He adds: “Our relationship with Chaucer dates back to the Lloyd’s Lab and they played a key role in helping us to improve our offering. We look forward to future developments with Chaucer.”
Notes to Editors
Chaucer are a leading specialty (re)insurance group working with brokers, coverholders and clients to protect and support business activities around the world. Our services are accessed both through Lloyd’s of London and the company markets.
We are defined by an enterprising, bespoke approach to (re)insurance, enabled by the individual character, experience and imagination of our expert teams.
Chaucer is a member of the China Re Group and backed by their financial and operational resources. China Re is one of the world’s largest reinsurance companies whose outstanding and comprehensive strength is rated A (excellent) by AM Best and A (strong) by S&P Global Rating.
Allphins is a leading insurtech company that provides exposure and risk management services for speciality (re)insurers. Combining large datasets and emerging technologies, Allphins enables (re)insurance professionals to unlock additional value through better and faster analysis and decision making.
Allphins recently featured among the top 40 start-ups of STATION F, hand-picked among 1000 companies. Allphins was also part of the Lloyd’s Lab, and is based in Paris and London.