One Concern, an AI 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. This product is a data-as-a-service tool that provides insights on downtime risk exposure to hazards, extreme weather, and natural disasters.

***

Cover Whale Insurance Solutions, a commercial trucking insurance provider and InsurTech, announced its strategic agreement with global professional services firm, Aon’s CoverWallet, a digital insurance platform for small business owners.

The collaboration brings together the capabilities of two InsurTech solutions by combining Cover Whale’s trucking insurance capacity with CoverWallet’s distribution. As part of this relationship, Cover Whale offers its advanced telematics and proprietary quoting and binding technology to CoverWallet’s independent owner/operator and small fleet trucking customers.

The CoverWallet platform will extend Cover Whale’s visibility to commercial truck drivers across the country. As a result, small business owners and trucking fleet operators will be able to access tailored insurance policies designed specifically for the trucking industry. Both companies are aiming to explore the possibilities of technological innovation and customer-centric services for commercial trucking insurance.

Sources: One Concern, Cover Whale Insurance Solutions