8Insurance Business ReviewJuly - Sept 2022SEEKING ANALYTIC DIAMONDS IN THE UNDERWRITING DATA MINEBy George Di Martino, EVP & CIO, TransReCapital is no longer a differentiator in the re/insurance industry. To deliver an adequate return, reinsurers must be better at transforming data into value-added information, this is true for pricing and underwriting risks, handling claims and matching capital (both theirs and/or others) with risk exposures. The results of recent years (affected by numerous natural catastrophes, the ongoing Covid-19 pandemic and adverse development) low interest rates and social inflation apply greater pressure on underwriting to deliver improved results.That pressure has increased attention and focus on technology and data (both internally generated and externally available) to deliver better insights to our key stakeholders (underwriters, actuaries, claims, modeling) to enable them to readily recognize patterns and identify trends that help them make better decisions.TransRe is data-rich with decades of underwriting and claims data from a diverse portfolio of business. We are aware that by investing up front in intelligent data strategies and organizing our internal datasets we will gain a more connected, comprehensive view of the market: trends, pricing, losses, etc. We know this will help TransRe's teams make better decisions at both an individual risk and portfolio level. We also know this will enable TransRe to deliver greater value to each customer (our expertise, access, strength, innovation, experience and resilience is what makes us EASIER to do business with).George Di MartinoIN MY OPINION
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