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Xceedance and CoreLogic announce extended collaboration

Risk modelling: CoreLogic and Xceedance have announced an extended collaboration that will give brokers and re/insurers access to more than 180 catastrophe models (File photograph by NOAA via AP)

CoreLogic, a global property information, analytics and data-enabled solutions provider, has announced an extended collaboration with Bermudian-based Xceedance.

Under this expanded arrangement, CoreLogic said re/insurers and brokers will now gain access to the company’s complete suite of 180-plus catastrophe models via transactional, on-demand catastrophe modelling services performed by Xceedance, which is a global provider of insurance consulting, managed services and technology.

CoreLogic said catastrophe models are critical to insurers’ understanding of the risks they are writing, whether it be a typhoon in Asia, earthquake in Italy or wildfire in the United States. Having fast access to accurate, high-quality data and insights is crucial for risk assessment and decision making by underwriters.

The company said it is continuously working to meet the expectations of the re/insurance market and the increasing demand for greater flexibility to access and provision catastrophe models.

Accordingly, CoreLogic said it offers its catastrophe models on the open source Oasis Loss Modelling Framework as well as on its own RQE catastrophe modelling platform.

The extended agreement now allows Xceedance to provide transactional based services utilising CoreLogic’s RQE platform with access to the complete suite of 180-plus catastrophe models as well as those available on the Oasis LMF platform, the company said.

William Forde, senior director, product management, Insurance and Spatial Solutions at CoreLogic, said: “Whilst we continue to extend the range of models available on the Oasis platform, CoreLogic is delighted to respond to increasing market demand for flexibility, by offering our full suite of models on the RQE platform in partnership with on-demand cat modelling services from Xceedance.”

Justin Davies, head of region, EMEA at Xceedance, said: “We are delighted about partnering with CoreLogic, in support of our joint vision to make life easier for re/insurers and brokers, which allows for refined and timely visibility into catastrophic risks.

“Cost-effective access to CoreLogic’s broad, high-definition and data enriched catastrophe models brings substantial value to the market.”

Xceedance is a global provider of strategic consulting, technology, data sciences, actuarial support, and managed services to property/casualty and life insurance organisations.

Domiciled in Bermuda, with offices in the United States, United Kingdom, Switzerland, Liechtenstein, Poland, India, and Australia, Xceedance said it helps re/insurers launch products, drive operations, implement intelligent technology, deploy advanced analytics, and achieve business process optimisation.

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Published June 29, 2021 at 12:37 pm (Updated June 29, 2021 at 12:37 pm)

Xceedance and CoreLogic announce extended collaboration

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