PartnerRe Ltd has acquired the assets of Claim Analytics, a Canadian-based provider of predictive analytics solutions to the insurance industry.
Claim Analytics was formed in 2001 and provides predictive modelling solutions to the insurance industry in North America. It has combined experienced actuaries with experts in data analytics to deliver predictive solutions.
Emmanuel Clarke, president and chief executive officer of Bermudian-based PartnerRe, said: “We are very pleased to announce the addition of this leading provider of predictive modelling solutions to our existing predictive capabilities. This acquisition strengthens our product offering predominantly in life and health, an important strategic area of diversification and growth for the company, and aligns with PartnerRe’s overall client-focused strategy.”
He added: “PartnerRe has successfully brought its predictive analytics capabilities to clients and helped them to better develop and manage their business. This acquisition builds on that success. The improved prediction capability will expand our product offering and enables us to provide our clients, both in North America and globally, with access to deeper expertise, and a now wider range of predictive solutions tailored to their needs.”
The Claim Analytics employees will join PartnerRe’s existing analytics team, and will remain located in Toronto, Canada and will continue to do business as PartnerRe Analytics.