Arthur J. Gallagher Selects EigenRisk Platform
“EigenPrism empowers our brokers to apply powerful analytics to our clients’ property insurance programs across Florida and other catastrophic-exposed areas of the country. It provides a great check and balance. We are now able to help our clients visualize and model their exposure to CAT loss from an extensive library of historical footprints; not just what the ‘closed box’ models give us,” said Dave Marcus, ARM, Area Chairman – South Florida and Managing Director – Gallagher Public Sector.
“We can now look deeper into and manipulate data that we could not before. Notably, we can develop ‘what if’ scenarios to loss, enabling us to alert our clients of potential losses to impending and real-time events. In turn, that will help facilitate faster and more focused responses,” he added.
EigenPrism will provide individual brokers and consultants at Gallagher’s Florida operation with access to high-speed modeling and robust analytical capabilities. Gallagher’s risk professionals will be able to run multiple models on the platform, strengthening their ability to help clients assess their catastrophic exposures and negotiate related coverages more effectively with underwriters.
Deepak Badoni, President, EigenRisk, Inc., said, “We’re proud to work with Arthur J. Gallagher’s Florida team as an innovator in their market and early adopter of our platform as they help their clients assess catastrophic exposures, evaluate ‘best, worst, and most likely’ loss event scenarios, and generally strengthen the breadth and depth of their analytics as they advise their clients.”
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About EigenRiskTM
EigenRiskTM, Inc., an independent software and professional services firm, delivers a speed-of-thought risk analytics and open architecture model execution platform to the insurance, reinsurance, brokerage, and risk management community. Headquartered in Ann Arbor, MI, the firm has operations in Bangalore, India; Fairfield, CT; Miami, FL; Orange County, CA; and San Francisco, CA. EigenRisk’s partner ecosystem offers insurance and reinsurance company professionals new and growing sources of hazard data and catastrophe models so they can ask more informed questions and deliver more transparent results. The firm also offers clients the ability to access a collection of high-performance engines that power its analytics modules using a set of application programming interfaces (APIs). Thus, clients can choose to integrate the modules into their existing enterprise applications. Visit www.eigenrisk.com.
About Arthur J. Gallagher Risk Management Services, Inc.
Arthur J. Gallagher Risk Management Services, Inc., is the U.S. retail Property/Casualty brokerage division of Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance broker and risk management services provider headquartered in Itasca, Illinois. With operations in 31 countries, Gallagher offers client-service capabilities in more than 140 countries through its own expert advisors and a network of correspondent brokers and consultants. Arthur J. Gallagher Risk Management Services advisors specialize by industry and coverage types—developing solutions uniquely tailored to individual client requirements.http://www.ajg.com
