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Praedicat and Experian create new tool for D&O insurance cover & More News

 

Praedicat, a liability emerging risk analytics company has announced its collaboration with Experian, an information services company, to deliver a new company and portfolio analysis tool for underwriters of Directors & Officers (D&O) insurance cover for US publicly traded companies.

According to the announcement, the CoMeta Pro integrates into the dashboard of Praedicat’s emerging risk and underwriting software CoMeta, and intuitively presents two simple scores.

One reflects Praedicat’s assessment of the potential insured’s exposure to emerging litigation risk, and the other was developed by Experian’s DataLabs reflecting the company’s expansive firmographic data in the form of Experian’s Predictive D&O Model.

Together they analyse vast quantities of data to give underwriters an immediate headline view of the “holistic” D&O risk of each of roughly 5,000 listed US companies, Praedicat noted.

“We are delighted to work on CoMeta Pro with Experian, a global leader in risk data and modelling,” says Praedicat Chief Executive, Robert Reville. “Experian’s enormous database of governance information about listed companies is an extraordinary resource for casualty insurance and will make D&O underwriting more profitable and manageable.”

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CoMeta Pro can also be used as a portfolio analysis tool. This is because of its systemic risk modelling, it allows users to assess systemic risk across portfolios quickly and identify D&O-General Liability clash risk arising from mass litigation events.

Users can also use the tool to deeply analyse the headline scores to understand each of the individual factors which impact the target company’s litigation risk in detail, alongside the “reason codes” which drive Experian’s risk scores.

Brian Bond, SVP of Product, Marketing and Strategy for Experian Business Information Services, said: “As a leading provider of business data and analytical insights on more than 28 million active U.S. businesses and third party-verified information on 99.9 percent of all US companies, we can provide a compelling view into D&O risk that is not typically used today.

“With these insights we’re excited to combine our predictive Experian D&O Model with Praedicat’s role as a trusted casualty insurance modelling provider to enable the next-generation insurance.”

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