One Concern, an artificial intelligence powered physical risk company, and Swiss Re, a global reinsurance leader, announced a strategic partnership that aims to enhance the underwriting and management of natural catastrophe business interruption risk.

Under the partnership, One Concern’s Business Interruption Risk Scores and Metrics DNA product will be made available to insurers via Swiss Re’s CatNet platform. CatNet provides users with an overview and assessment of natural hazard exposures worldwide. It assesses the risk by combining hazard, loss, exposure, and insurance information with selected background maps and satellite imagery.

The AI-powered 1C-DNA product leverages catastrophe modeling, graph networks, data science, and foundation models to create a digital twin of the physical world to differentiate properties based on their hidden outside-the-fence risks, including power outages, logistics and supply chain, communities, and other risks. The product is a data-as-a-service tool that provides insights on downtime risk exposure to hazards, extreme weather, and natural disasters.

One Concern is a technology company building digital infrastructure for global physical risk. The Swiss Re Group is a provider of reinsurance, insurance, and other forms of insurance-based risk transfer.

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Insurity, a provider of cloud-based software for insurance carriers, brokers, and managing general agencies, announced that it has partnered with Web Connectivity Limited, a Zywave company and provider of ACORD standards-based solutions for the commercial insurance industry.

This partnership aims to empower carriers, brokers, and syndicates to leverage Insurity’s Sure Underwriting platform while expanding access to tools related to London Market insurance operations by adding a London Market messaging function.

WCL aims to make it easier for insurance organizations to exchange information and simplify workflows to improve accuracy, accelerate business, and reduce risks. As a longtime ACORD Messaging Gateway provider to the London Market, WCL allows organizations to streamline processes by automating the electronic transfer of data and documents between brokers and insurers and central services.

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Insurance Quantified, a commercial property/casualty underwriting technology provider, announced that First Light Program Managers, a managing general agency that offers specialty insurance products in the trucking, transportation, and marine sectors, has selected Insurance Quantified’s underwriting workbench, SubmissionIQ, to streamline its underwriting workflow and enhance speed to market.

By working with Insurance Quantified’s technology, First Light aims to streamline operations, enhance speed-to-quote, and unlock new avenues for business growth.

The signing of First Light comes at a time of growth and expansion for Insurance Quantified. The firm recently announced its acquisition of Groundspeed Analytics, a provider of data solutions for the commercial property/casualty industry.

Sources: Swiss Re, Insurity, Insurance Quantified