Apollo partners with Praedicat for emerging risks

Lloyd’s (re)insurer Apollo has signed a new, three-year agreement with Praedicat, the California-based analytics and modelling company that specialises in emerging liability risks.

Under the terms of the agreement, Apollo will deploy Praedicat’s technology and data for underwriting and portfolio management. 

Praedicat’s CoMeta platform creates underwriting insights using technology that searches and reads published biomedical and legal academic research investigating emerging risks from commercial products and activities, and from court dockets.

 CoMeta connects the risk information extracted by the technology to 128,000 profiled companies. 

“Emerging risk has historically been a challenging area for underwriters to address,” said James Slaughter, Apollo’s Group CUO. “With Praedicat’s technology, we provide our underwriters with cutting-edge insights, our capital providers with the confidence that our portfolio is contemplating emerging risks, and our customers with the coverage they need to navigate an increasingly complex litigation environment.” 

Praedicat CEO Robert Reville added: “Our new engagement with Apollo explicitly includes collaboration to create new and innovative emerging risk coverages for Apollo customers. Apollo’s record with insurance product innovation is second-to-none in the Lloyd’s market and robust and tailored coverage is keenly needed in the market.” 

“Apollo’s commitment to being the finest underwriters in the market is unwavering,” says Colm Lyons, Apollo’s Head of Casualty. 

“For casualty, when our people have access to the best data and technology on emerging risk, delivered into an efficient underwriting workflow to yield optimum results, we are fulfilling that commitment.”