Advanced Risk Assessment and Predictive Modelling for a European Reinsurer
Overview
Discover how i-Offshore assisted a European reinsurer in enhancing risk assessment, leading to better decision-making and reduced loss ratios.
Client Background:
Industry: Reinsurance
Business: A European reinsurer managing a portfolio valued at €5 billion, facing challenges in risk assessment.
Challenges:
- Reliance on traditional risk assessment methods.
- Suboptimal decision-making affecting profitability.
- A 15% higher-than-expected loss ratio.
Solution
- Predictive Modelling System: Developed and deployed advanced predictive models to forecast potential risk events and their financial impact. Integrated historical data with real-time market information.
- Data Integration Platform: Implemented a data integration platform to consolidate risk data from multiple sources, providing a unified view of the portfolio.
- Real-Time Reporting Tools: Created customized dashboards and reporting tools for real-time risk monitoring and analysis.
Outcome
Risk Assessment Accuracy
Loss Ratio Reduction
Operational Efficiency
Risk Assessment Accuracy
Improved risk assessment accuracy by 40%, leading to more informed reinsurance decisions.
Loss Ratio Reduction
- Achieved a 10% reduction in the loss ratio due to better risk management.
Operational Efficiency
- Operational Efficiency: Enhanced operational efficiency with real-time risk monitoring, reducing the time spent on risk analysis by 50%.