Data Analytics

At Gallagher Re we believe the key service a broker must deliver is actionable insight from modelled outputs, not simple reliance on models themselves. That is where we excel – our actuarial teams are fully integrated within the broking function to provide the optimal balance of analytical and commercial insight, providing our clients with a tailored view of risk.

Analytics teams based in London, the US and Latin America work alongside Gallagher Re’s specialist brokers, deploying the full range of modelling and exposure software from the leading suppliers. Together they are able to transform modelled outputs on perils ranging from country-specific earthquake risk to worldwide cyber exposures into actionable insight which goes well beyond the numbers. Our highly numerical brokers implement cutting edge analytics solutions into their decision making process providing the best possible recommendation to clients.

What Makes Gallagher Re Analytics Offering Unique?

Bespoke Modelling Approach

At Gallagher Re we understand that every portfolio of risks has distinctive challenges and therefore each client requires a bespoke and practical analytical solution. We are proud of our excellent track record of providing flexible, transparent and easy to follow modelling solutions that our clients embed in their internal frameworks.

Why Data Modelling in Reinsurance Matters

Modelling is much more than just the arrays of data or a ‘black box’. We recognise the fact that some techniques are branded as inflexible, lacking transparency and sometimes are not necessarily fit for purpose.

We address those issues by creating custom tools, always supported by credible deep dive research; our work is easy to follow and we share all the underlying assumptions and methodology used in our analysis.

We offer our opinions on the interpretation of the final outputs and explain exactly what implications they may have for your specific business case.

Innovative Reinsurance Analytics Solutions

Our actuaries live on the edge of innovation, constantly striving to develop new techniques and provide unique access to the latest models and data analytics for our clients. We have a strong presence across industry working groups, conferences and thought leadership initiatives in the market, enabling us to consistently stay ahead of the curve.

The (re)insurance industry has been undergoing a significant technological transformation over the past decade, providing access to enriched data sets in real time. The challenge remains on how to efficiently harness this ‘Big Data’ and turn it into actionable business decisions. Through years of experience and strong technical expertise, we continue to help out clients in adapting to this new data driven world.

Our services range from support with ingesting vast quantities of data into the latest AI and GLM models, through to data sparse areas of the market where reliance is based on expert judgement and building future proof frameworks and data standards. 

Embedded Actuaries with Reinsurance Brokers

As a market disruptor, we quickly learned the power of having strong analytical capabilities embedded and working closely with reinsurance brokers on the frontline. This unique fusion of reinsurance broking and analytics enables Gallagher Re to rapidly respond to all client requests. In a world where business decisions need to be made quickly to capitalise on opportunities, we believe this approach best supports our clients in making informed, analytically driven business decisions.

Other more intangible benefits have also become evident overtime. Reinsurance brokers benefit from subject matter expertise and direct access to analytic output, while our actuaries stay abreast of all of the market trends and movements garnered from broker relationships. This daily information exchange serves only to benefit our clients, as reinsurance brokers are best informed on the various analytic capabilities that Gallagher Re can deliver.

Full Service Data & Analytics Reinsurance Offering

Experience based modelling: We use Monte Carlo simulation software to analyse the expected losses and the associated variability to all limits/sections contained within the structure. This informs us about the volatility associated with recoveries, attachment and exhaustion probabilities for different proposed programmes. In particular, analysing losses at the 1 in 200 level gives us an indication of the structure’s impact on capital requirements.

Exposure based modelling: Gallagher Re’s comprehensive suite of benchmark ILF curves allow us to accurately allocate expected recoveries across all layer structures. The granularity of our benchmark curves ensures that we are reflecting the nuances of each line of business as accurately as possible.

Reinsurance Advisory: Gallagher Re provide in-depth exposure analysis to identify the drivers of reinsurance cost. We work alongside our broking function to vary the parameters of reinsurance structures to ascertain which limits/sections provide the best value for money relative to market prices.

Scenario Modelling: We work with the reinsured to ascertain appropriate scenarios to the portfolio and incorporate these into our modelling. On an annual basis (at least), we aim to provide an updated view as to whether the existing reinsurance structure still is efficient in terms of providing full and efficient cover in the event that these scenarios were to arise.

Benchmarking: We have an extensive database of ground up and large losses in order to provide insight into frequency and severity distributions and feedback on market standing.

Solvency II: Our team has a deep and broad understanding of Solvency II regulation which allows us to give detailed advice on the regulatory impact of their holistic business decisions.

Additionally, we keep abreast of the latest Solvency II developments so that our clients can depend on us to inform them of any changes which materially impact their existing reinsurance or prospective business planning.

Claims Analysis: Our analytics team have extensive multi-class reserving experience which can be used to provide vital account analysis for capacity and reinsurance discussions.

The team provide advisory on data and governance processes to ensure claims data is understood and used effectively throughout the business.