Aurenity partners with Verisk
MGA targeting the Excess and Surplus (E&S) market Aurenity has licensed multiple underwriting and rating solutions from Verisk .
Founded in 2022, Aurenity plans to launch its initial excess casualty product in the third quarter. “We are a business built by and for underwriting expertise, focused on creating the kind of differentiated insight that is very uncommon amongst our peers. Verisk’s unrivaled actuarial expertise, predictive models, and rich underwriting data analytics will enable us to make more informed decisions with highly sophisticated risk selection and pricing segmentation providing us with a powerful platform for profitable growth.” – Patrick Safino, Aurenity’s COO.
Aurenity has used a variety of Verisk products and services to help develop its platform, including:
Insurance consulting: Actuarial experts in Verisk’s Insurance Consulting unit have helped Aurenity develop customized rating plans.
Predictive analytics for rating: Aurenity has implemented ISO Risk Analyzer® Businessowners, a predictive modeling tool that analyzes hundreds of indicators to estimate expected losses by specific peril, at a high geographic resolution.
Underwriting insights powered by artificial intelligence (AI): Aurenity is also leveraging Verisk’s LightSpeed® Small Commercial, which applies AI and machine learning to large volumes of unstructured data, providing timely and actionable insights on businesses across the U.S.
“In an era of rising social and economic inflation, understanding the drivers of potential claims volatility is vital for risk selection and underwriting profitability. Aurenity is poised to capitalize on the speed, accuracy and consistency of underwriting data, predictive modeling and hands-on actuarial expertise only Verisk can provide.” – Ron Beiderman, senior vice president, core line products at Verisk.