Numerati® Partners LLC co-hosted the second InsurTech Alliance (ITA) Science & Engineering Expo on January 30, 2020 in New York City. The ITA Science & Engineering Expo is a collaboration between Numerati® Partners, a New York-based data analytics and technology enablement firm seeking to foster the next generation of data-intensive risk and liability management enterprises in risk technology (RiskTech), and leading global reinsurance broker Guy Carpenter & Company for the InsurTech Alliance (ITA), Guy Carpenter’s expanded insurance technology (InsurTech) offering, serving client needs for engagement with the dynamic, rapidly evolving InsurTech sector.
“The 2020 InsurTech Alliance Science & Engineering Expo demonstrates our ongoing commitment to advancement at the leading edge of rigorous, substantive, science-based, industry-focused innovation which are relevant across the global insurance and reinsurance sector. We are pleased to continue our collaboration with Guy Carpenter via the InsurTech Alliance, and anticipate further progress in our shared goal of advancement in the insurance technology sector,” said Samantha Kappagoda, Co-Managing Member of Numerati® Partners.
The second ITA Science & Engineering Expo (Expo) marks the completion of Numerati® Partners’ first cycle with the ITA, in addition to the concurrently ongoing second cycle. During the first cycle, Numerati® Partners conducted five deep-dive technical assessments — Proofs-of-Concept (PoCs) — of emerging technology offerings, and performed research on another 60 technology offerings, created quarterly bootcamps comprised of hands-on technical and scientific demonstrations, presentations and exhibits for ITA Founders and Subscribers.
These bootcamps, including substantive interactive presentations focusing on automotive telematics, Internet-of-Things (IoT) and cybersecurity, were designed in conjunction with scientists, engineers and technologists enlisted from the Numerati® Partners ecosystem of technical experts at the leading edge of their respective fields including those associated with RiskEcon® Lab @Courant Institute of Mathematical Sciences NYU, NYU.
The Expo showcased the following three technology offerings with whom Numerati® Partners conducted a deep-dive technical assessment and has proposed for further engagement with Guy Carpenter, the ITA, and the broader insurance and reinsurance sectors:
- Geospatial Insight: global satellite imagery analytics,
- NavVid: an automotive telematics risk-safety software application, and
- Talespin: an extended reality (XR) platform for workforce knowledge transfer and skill alignment.
“Prudent adoption and responsible deployment of technology by insurers and reinsurers require ongoing commitment to technical assessment by specialists and functional testing by experts at a fundamental level, as a foundation for reliable insurance and reinsurance innovation,” said David K.A. Mordecai, PhD, Co-Managing Member of Numerati® Partners.
“Challenges and disruption from evolving technology have been facing the insurance business since the use of fire marks. The Expo and its RiskTech perspective are organized by Numerati® Partners in conjunction with Guy Carpenter’s GC Genesis initiative and provide attendees with in-depth insight into the innovative use of data, analytics, and technology to provide a competitive edge through dedicated technical research,” said Jay Woods, Chairman of the InsurTech Alliance.
“The ITA Science & Engineering Expo, curated by Numerati® Partners and co-hosted by Guy Carpenter, is part of a scientific and engineering program designed to help insurers better understand technologies that are transforming the way insurance is and will be provided. As the 21st Century unfolds, having access to scientific and engineering expertise will be the difference between success and failure,” said Peter Thomas, President of the InsurTech Alliance.
Rob Bentley, Chief Executive Officer of Global Strategic Advisory at Guy Carpenter points out “Guy Carpenter is particularly focused on three areas: InsurTech, analytics and alternative capital. GC Genesis and the ITA specific focus is on the advances in digital technology and, more specifically on InsurTech.” He adds, “The recently concluded InsurTech Alliance Science & Engineering Expo is unique. The Expo brings together insurers, InsurTech companies, academics, scientists and engineers in an open and collaborative forum. Numerati® Partners and its ecosystem of academics, scientists, and engineers conduct extensive and objective reviews of the emerging digital technologies, as well as deep dives into designated InsurTech companies and their supporting technologies, products, and services. It is this science-based, innovative and collaborative model that enables insurers to distinguish between good technology and bad, identify credible InsurTech partners, and anticipate the underwriting implications of these new digital technologies.”
About Numerati® Partners LLC
Numerati® Partners LLC coordinates a data analytics and technology development ecosystem, with the mission of advancing and fostering the next generation of scalable data-intensive risk and liability management enterprises. The firm provides resources fundamental to advancing the development of nascent leading-edge inferential surveillance, monitoring, and predictive analytics technologies for deployment within the RiskTech domain: risk technologies associated with adaptive distributed, networked and embedded systems such as remote sensing, agent-oriented data analytics, computing and control systems. Numerati® Partners curates integrated RiskTech solutions as well as forensic and use-case applications in RiskTech sub-domains such as LitTech, RegTech, FinTech and InsurTech (litigation technology, regulation technology, financial technology and insurance technology). For more information, visit https://numeratipartnersllc.com.
About RiskEcon® Lab for Decision Metrics @ Courant Institute of Mathematical Sciences NYU
The mission of RiskEcon® Lab @ Courant Institute of Mathematical Sciences NYU is the development of experimental testbeds and analytics that employ high-dimensional datasets from innovative sources by applying a range of computational and analytical methods to commercial and industrial sensor networks and edge computing embedded systems, focusing primarily on research and development (R&D) of remote and compressed sensing, anomaly detection, forensic analytics and statistical process control. By employing applied computational statistics within the context of robust and scalable data analytic solutions, our goal is robust integration of machine learning with signal processing for measurement and control, in order to conduct research fundamental to large-scale, real-world questions in risk and liability management. For more information, visit https://wp.nyu.edu/riskeconlab/.
About Guy Carpenter & Company, LLC