Markel’s claims director of wholesale says MIS’s solution gives the business ’another string to our bow’
Insurtech McKenzie Intelligence Services (MIS) has today (30 August 2022) announced that Markel International (Markel) – a subsidiary of Markel Corporation – has partnered with MIS.
Markel has chosen MIS to provide rapid event response for its international wholesale business, which it said would boost its exposure management and claims response through post-disaster, high-resolution aerial imagery and other data sources from leading specialist partners.
The partnership aims to accelerate Markel’s incident and claims responses following major loss events, including natural catastrophes.
Markel has been using MIS’s artificial intelligence (AI) powered Global Events Observer (GEO) platform for its Lloyd’s syndicate business since 2017, following the insurtech winning the contract to build the Lloyd’s market catastrophe intelligence platform that serves all 55 managing agencies.
Chris O’Shea, claims director of wholesale at Markel, said: “Extending our relationship with MIS and adopting this latest MIS solution across our event response process gives us another string to our bow when it comes to our award-winning claims service.
“This innovative project with MIS, which has had close involvement from our claims, exposure management and data science teams, will allow Markel to access MIS’s data hosting service for our property, political violence and marine books of business, ensuring that business written by Markel benefits from MIS’s post-disaster, high-resolution aerial imagery via the MIS GEO platform.”
Rapid response
MIS aims to empower insurers with intelligence to respond to catastrophes.
GEO blends AI and machine learning with expert analysis to deliver a digital representation of global perils at speed, identifying what was damaged, when and by what.
GEO enables claims and exposure management teams to make fact-based decisions in the immediate aftermath of a catastrophe that could be modelled or non-modelled at portfolio, policy and location level.
Forbes McKenzie, chief executive and founder of MIS, added: “By not only adopting GEO but also embedding it into their wider event response process, Markel has provided a great demonstration of best practice, which is something that we would recommend any carrier to look to achieve.
“We are delighted to partner with Markel, a globally-renowned business that has selected MIS to provide rapid event response across their business lines to benefit their exposure management and claims processes worldwide.”
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