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Lockton Selects EigenRisk Platform for Catastrophe Modeling

Staff Writer | January 05, 2016

Lockton Companies selects EigenPrism, the EigenRisk platform for catastrophe exposure analytics and modeling, to enhance its ability to address the complex risk management and insurance needs of clients around the world with significant exposures to natural catastrophes.

As an early user of EigenPrism’s beta releases, Lockton helped evaluate and refine many of the modules currently available on the platform.

“We have seen first-hand how the platform enables our brokers and consultants to analyze catastrophic property exposures by individual client locations faster and with greater precision. This facilitates more effective post-event planning, response and claims management, as well as enhancing our ability to better prepare our clients for their insurance renewals,” says Michael Andler, head of Lockton’s U.S. property practice.

“As risks confronting our clients become more complex, we constantly look for solutions to help them evaluate their exposures around the world more effectively,” says Justin VanOpdorp, chief analytics officer of Lockton. “The tools, data and analytics available through EigenPrism significantly enhance our ability to assess, mitigate, and manage the varied and challenging catastrophic risks businesses face today.”

EigenPrism will provide risk professionals at Lockton with access to high-speed modeling and analytical capabilities. Lockton’s experts will be able to run multiple scenarios from multiple data and modeling partners on the platform, enhancing their ability to help clients assess catastrophic exposures, allocate resources for disaster planning and property claims management with greater speed and efficiency, and negotiate related coverages more effectively with underwriters.

“We’re pleased to have entered a new phase in our relationship with Lockton’s property and analytics teams and are excited about expanding our ongoing collaboration as we continue to enhance our platform’s analytical and modeling capabilities and the value it unlocks for our customers,” says Deepak Badoni, president, EigenRisk, Inc. 

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