Lloyd's managing agencies Cathedral Underwriting and Talbot Underwriting are to use new internet-based aerospace risk management software.
ALPS 4, launched by Russell Group, links industry data to ...
Lloyd's managing agencies Cathedral Underwriting and Talbot Underwriting are to use new internet-based aerospace risk management software.
ALPS 4, launched by Russell Group, links industry data to both primary and reinsurance portfolios.
The software offers underwriters features such as risk modelling, control of aggregate exposures, disaster scenario simulation and assessment of programme profitability.
ALPS 4 is an upgrade to the current ALPS software and uses Microsoft's .net technology which connects systems together via the internet.
The new software supports direct underwriters as well as reinsurers and brokers.
A Cathedral spokesman said: "The value of ALPS 4 is that it enables to us to put together our aviation aggregates."
"It helps us to manage our portfolio and calculate exactly where our exposures lie, therefore allowing us to determine what reinsurance we have to buy."
Users of ALPS 4 enter past data so that a risk model can be computed by the system.
Russell Group director Suki Basi said one client entered 14 years of data into the system to model its exposure.
