Under the deal, Guy Carpenter said it will use TNEDICCA’s location risk products for its US personal and commercial auto marketplace. Access to this key data will help Guy Carpenter’s clients develop ratemaking and underwriting strategies.
Thomas Hettinger, managing director and North America leader for the global strategic advisory team at Guy Carpenter, said: “Through the agreement with TNEDICCA, Guy Carpenter will be able to further provide clients with leading-edge data assets. This, in turn, will empower carriers to develop innovative products that address new and emerging risks.”
This is not the first time that TNEDICCA has gone into partnership with a reinsurance firm. In October 2021, it went into partnership with Swiss Re.
On its website, TNEDICCA claims that it has built the most-comprehensive US crash database and that it is based on police reports from over thirty million crashes. The firm also claims that its algorithm is 50% more predictive of risk than credit score. TNEDICCA was founded in 2015 and is based in Columbus, Ohio.
Yiem Sunbhanich, co-founder and CEO of TNEDICCA, said: “With a deep understanding and reach within the auto insurance market, Guy Carpenter is well positioned to expand distribution of TNEDICCA’s innovative risk scores and solutions. We have seen first-hand the effectiveness of Guy Carpenter’s full-service approach in delivering value through full implementation.”
Read the full article: Reinsurance News
