U.S. RE Introduces New Product to Identify Cost Drivers in Reinsurance
For Immediate Release
February 13, 2012
U.S. RE INTRODUCES NEW PRODUCT
TO IDENTIFY COST DRIVERS IN REINSURANCE
Pearl River, NY -- U.S. RE Corporation has introduced a new product, U.S. RE Risk Manager, a web-based portal that enables insurers to better manage profitability by identifying key cost drivers of reinsurance, Tal Piccione, Chairman/CEO, announced.
The product was developed through a strategic partnership with James Campbell of Campbell Insurance Consulting, Richmond, VA.
U.S. RE Risk Manager enables insurers to isolate their worst performers, identify areas of over concentration that contribute to extended exposure and analyze portfolios to seek out profitable areas to expand writings.
“By identifying the worst performers, this tool enables insurers to formulate new underwriting guidelines so these same policies don’t come back into the portfolio,” said Scott Polkhinghorne, U.S. RE Senior Vice President. “Likewise, companies will be able to identify profitable segments and formulate strategies to get more of this business,” he added.
U.S. RE Risk Manager makes use of U.S. RE’s optimization methodology, U.S. RE Optimizer, to maximize risk-adjusted, total underwriting return on capital while simultaneously trying to minimize the volatility of retained losses. In addition to standard catastrophe modeling outputs, the tool enables a more refined analysis that includes non-catastrophe costs and expenses to minimize the total cost of risk including the risk-adjusted cost of capital.
The U.S. RE project team that worked with Campbell Insurance Consulting in developing U.S. RE Risk Manager, is composed of Brian McGuire, Senior Vice President (email@example.com); Scott Polkinghorne, Senior Vice President (firstname.lastname@example.org); Marc Piccione, Vice President (email@example.com); and Vlad Uhmylenko, Managing Director, U.S. RE Analytics (firstname.lastname@example.org).
Media contact: Mechlin Moore, MDM Communications (239-777-1595; email@example.com)