Gallagher Announces Advanced Integrated Reinsurance Analysis Platform


Global reinsurance broker Gallagher Re has unveiled an automated analytics platform that it claims benefits clients and reinsurance markets by bringing together all analytics capabilities into one platform and providing insight multi-model of risk.

The new platform, Gallagher Automated Insurance Analytics (GAIA), “will reduce by up to 80% the time currently required to generate the same level of information by querying multiple tools, separately,” according to the announcement.

The company said GAIA is faster and smaller in size than legacy systems which can be expensive to maintain and cannot keep up with the speed of technological change.

Gallagher Re said the system can adapt to its growth plans, allowing easy expansion across geographies, industries and multiple business units.

The company says the platform can generate “unique insights into the portfolios and underlying business lines through automated peer analysis, data quality scoring, market optimization. portfolio and pricing tools ”.

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It can also quickly translate disaster model data and visualize all risks and portfolios. Customers can then refine their view of risk by adjusting the modeled outputs, based on the GAIA framework.

“The large investments and rapid development in broker modeling capability seen around the turn of the century was just the first wave of reinsurance analytics power and potential,” said Ed Messer, chief analyst at reinsurance. Gallagher Re. “Value-added analysis consulting, which goes far beyond the reinsurance transaction, is now an accepted and expected part of the customer offering. But many of these legacy systems are bulky and expensive to maintain today; they are struggling to keep pace with technological change.

GAIA offers three key segments:

  • Pre-modeling: data collection, enrichment, augmentation and intelligence
  • Modeling: Integrated and automated workflows via multi-model APIs (application programming interfaces) and machine learning
  • Post-modeling: pricing, portfolio optimization, e-placement and market overview
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Tom Wakefield, CEO-designate of Gallagher Re, said GAIA would eliminate “a huge amount of inefficiency in current reinsurance analysis practices,” which means more time spent advising clients.

Gallagher Re is owned by insurance broker Arthur J. Gallagher. It was founded in 2013 as a “Capsicum Re” joint venture with Gallagher. A year ago the company was renamed Gallagher Re.

Gallagher Re is based out of several reinsurance centers – in London, Bermuda, Rio de Janeiro, Santiago, Miami and New York. With the United States being the world’s largest reinsurance market, accounting for 60% of total reinsurance premiums, Gallagher Re said it plans to significantly expand its presence in the United States.

In August, Arthur J. Gallagher & Co. agreed to acquire the treaty reinsurance brokerage operations of Willis Towers Watson, just weeks after the failure of a previous Gallagher deal to buy Willis Re when brokers Aon and Willis ended their $ 30 billion mega-merger deal.

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Under the new agreement, Gallagher will acquire the combined operations for an initial gross consideration of $ 3.25 billion and potential additional consideration of $ 750 million subject to certain revenue targets for the third year. In the previous deal, Gallagher had agreed to buy Willis Re and other assets for around $ 3.6 billion.

The businesses acquired by Gallagher include all of Willis Re’s treaty reinsurance brokerage businesses. Willis Re’s treaty reinsurance business operates in 24 countries, pays over $ 10 billion in premiums annually, and accounts for more than 750 customer insurance and reinsurance companies.

“Expanding our reinsurance brokerage offerings has been a strategic objective at Gallagher and this acquisition will significantly enhance our global value proposition,” said J. Patrick Gallagher, Jr., Chairman, President and CEO .

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