NEW YORK, Sept. 10, 2018 /PRNewswire/ --Numerati Partners LLC , a technology curation and enablement firm announced its collaboration with leading global reinsurance specialist Guy Carpenter & Company LLC, a wholly owned subsidiary of Marsh & McLennan Companies (NYSE : MMC ), in the launch of the InsurTech Alliance. The InsurTech Alliance is a first-of-a-kind initiative which provides state of the art, industry-focused technical capabilities to enable insurers and reinsurers in the assessment and adoption of innovations in data analytics and commercialization of integrated solutions based on leading edge digital technology. The InsurTech Alliance combines Numerati Partners' technical capabilities, science and engineering expertise and direct industry experience with risk technologies - RiskTech - and research and development, as well as with financial institutions and insurance sector innovation, with Guy Carpenter's insurance risk management expertise.
Numerati Partners coordinates a data analytics and technology development ecosystem - comprised of data scientists, engineers, academic institutions, public and private sector entities, and non-governmental organizations such as think tanks and research institutions - with the mission of advancing and fostering the next generation of scalable data-intensive risk and liability management enterprises.
In August 2018, Numerati Partners organized and co-hosted the inaugural InsurTech Science and Engineering Innovation Expo, the New York pre-launch event for the InsurTech Alliance. The Expo proceedings were organized in coordination with RiskEcon Lab for Decision Metrics @Courant Institute of Mathematical Sciences NYU and the New York Academy of Sciences, with over one hundred senior insurance and reinsurance executives from throughout North America engaging with over seventy leading scientists, engineers and technologists in an intensive program of in-depth discussion and activities focused on reliable, robust and secure use-case driven innovation and technology adoption. The InsurTech Expo introduced Guy Carpenter's insurance and reinsurance clients to the InsurTech Alliance, and featured Numerati Partners' ecosystem of technical experts as leaders in digital technology innovation and adoption. In addition to featuring prominent scientists and engineers from academia, industry and government, the Expo also showcased exhibits, demonstrations and presentations by emerging technology companies.
The InsurTech Alliance is the primary offering of GC Genesis, the broader strategic technology advisory effort being initiated by Guy Carpenter for its global client base. At the Monte Carlo Rendez-Vous yesterday, Peter Hearn, CEO of Guy Carpenter announced the launch of GC Genesis, as the expanded InsurTech advisory offering designed to meet Guy Carpenter client needs. Hearn stated "The InsurTech space has expanded rapidly in recent years, creating huge potential for the industry to capitalize on these advanced technologies, services and products. InsurTech is pioneering new solutions and expanding capabilities for carriers to achieve greater diversification, reduce costs and improve overall performance."
"Wholesale adoption of digital technologies by insurers and reinsurers is not only imminent, but inevitable," said David K.A. Mordecai, PhD, Co-Managing Member of Numerati Partners. "More disciplined technology adoption - based on an integrated engineering approach to digital technologies and high dimensional data analytics - is fundamental as a foundation for insurance and reinsurance innovation."
Numerati Partners curates domain-specific use-case applications by enabling systems integration and managed service provider platforms. Numerati Partners has developed a broad ecosystem critical to the identification, technical assessment and evaluation of technology and its ongoing development and commercialization, and works closely with end users and key stakeholders as distribution channel and transition partners to provide robust and scalable integrated technology solutions.
"We are committed to advancing substantive, science-based and industry-focused innovation across the global insurance and reinsurance sector," said Samantha Kappagoda, Co-Managing Member of Numerati Partners.
"The InsurTech proposition is forming an increasingly prominent presence on the (re)insurance stage," said Claude Yoder, Global Chief Innovation and Product Development Officer for Guy Carpenter. "The surge of start-ups seen in recent years is set to continue with the capabilities they offer evolving at a similar pace. It is imperative therefore that companies secure their positions in the front row so they can immerse themselves fully in the benefits of the InsurTech experience."