Inigo has announced a new partnership that revamps the underwriting business’s aviation war portfolio.
Through the partnership, London-based insurtech Insurwave will use its technology and sector expertise to assist Inigo in achieving real-time monitoring of its portfolio exposure.
Inigo will benefit from live location tracking of assets displayed on an interactive risk map. This feature enables the insurer to monitor global events through real-time alerts within specified or custom search zones.
Inigo also aims to further integrate artificial intelligence and analytics into the platform to enhance the analysis of potential losses and facilitate preventive risk management solutions.
Chris Weller, head of exposure management at Inigo Insurance, expressed enthusiasm about the collaboration.
“[It provides] our aviation war underwriters with precise information at the point of pricing, through to live tracking of fleets,” Weller said. “Insurwave’s platform gives us the tools to do that, and we look forward to collaborating in other areas as part of this partnership.”
Echoing the sentiment, Richard Archer, Insurwave’s chief strategy officer, highlighted the growing necessity for real-time exposure understanding and aggregation maintenance, especially in the aviation insurance market.
“We look forward to working with Inigo to help them extend their real-time data tracking and to unlock new insights for proactive loss prevention and risk management services, as well as exploring what this could mean for other classes moving forward,” Archer said.
Earlier this year, Inigo also announced the issuance its third catastrophe bond valued at $100 million through Montoya Re Ltd.
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