Russell Group, a London-based data and analytics company, has expanded its data universe with InsurTech Zywave.
Russell Group provides creative risk solutions for corporates and (re)insurers and is founded on the belief that future sustainability and business success will be built on a better understanding of connecting trading risk exposure.
Zywave offers a technology platform embedded with robust data and a comprehensive content portfolio with the goal of empowering smart business decisions.
According to Zywave, chief executives must focus on maximising shareholder value while managing corporate risks. In today’s complex risk landscape, Zywave said these two priorities are under threat from Connected Risk. As a result, emerging and systemic risks pose looming obstacles for corporates and their (re)insurers.
These additional datasets, Zywabe said, will include the largest repository of Cyber, US D&O, International D&O and Casualty case collections, and will power and drive the Russell Universe, Russell Scenario Factory, and Russell ALPS solutions for Russell’s clients and partners in both the specialty (re)insurance and corporate sectors.
Moreover, this multi-year licensing agreement represents a significant advance for Russell, as not only does it extend its current specialty business offering, but also serves to signal Russell’s intent to expand its book of business with service offerings aimed at the US marketplace.
Suki Basi, Russell Group managing director, said, “Our ability to inform our corporate and insurance company clients continues to grow as we integrate data to assess the significance of external risks and their impact on our clients’ exposures. We are extremely pleased to partner with Zywave and incorporate their state-of-the-art loss data into our unique approach of Connected Risks.”
Jim Blinn, Zywave EVP of Client Solutions, added, “For almost a decade, we have been connecting loss events arising from the same cause, which means we demonstrate how various risks accumulate to cause greater devastation. Suki Basi and the Russell Group are well-positioned to analyse these aggregation factors, and we look forward to building a long and rewarding commercial relationship.”
Zywave recently launched its Carrier Content Cloud Distribution, which aims to connect brokers with carriers in a more innovative way.
The offering leverage Zywave’s Content Cloud to distribute collateral and thought leadership material from insurance carriers to a network of brokerages and agencies serving the P&C and employee benefits markets.
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