AFL Insurance Brokers Ltd has a new service for insurance or reinsurance buyers and broking teams.
Announcing the launch of its specialist business Agile Risk Advisory (ARA), AFL said the wholly owned subsidiary will focus on providing evidence-based risk advice and new insurance-linked securities (ILS) opportunities. Heading ARA is AFL’s newly appointed director of specialty James Poole (pictured).
The consultancy will be using insights from big data analytics – Poole’s area of expertise. The key hire supported big data and machine learning sales at start-up Geospatial Insight prior to joining AFL. He also launched a Latin American-focused facultative reinsurance team at Arthur J Gallagher & Co, as well as starting a risk advisory practice at Price Forbes.
“I’m looking forward to demonstrating how big data and data analytics are fundamentally changing the (re)insurance market,” said Poole, who was described by AFL chief executive Bob Finch as having a clear entrepreneurial spirit. “My work will involve developing new techniques that allow us to evidence the impact of risk, together with new kinds of risk management, retention, transfer, and prevention strategies – always with a view of increasing value for clients.”
Explaining the move to form ARA, AFL chair Toby Esser said: “We see gaps in the market for innovative solutions that reduce the cost of covering risk, as well as new risk and insurance-based opportunities that deliver increased returns. James is ideally positioned to help clients close these gaps, bringing a wealth of expertise and fresh thinking.
“I am delighted that AFL has attracted a talented and forward-thinking professional like James to launch and grow ARA, and explore new opportunities in the value of risk and (re)insurance arrangements.”
