It said GAIA will “provide multiple benefits for clients and markets through the creation of a single integrated platform that houses all analytics capabilities”.
It is estimated that combining all capabilities into one automated platform that is also able to give a multi-model view of risk, will shave up to 80% off the time currently required to generate the same level of insights from interrogating multiple tools, separately.
Ed Messer, head of analytics at Gallagher Re, said: “The big investments and rapid build outs of broker modelling capability witnessed at the turn of the century, represented only the first wave of reinsurance analytics power and potential.
“In GAIA, we offer a long-term, strategic alternative that utilises the latest cloud-based technology and can be quickly and easily scaled in a considered, commercially viable and impactful way. Our mission is to eradicate low value, button-clicking analytics and focus instead on always providing higher value, advisory services.”
Tom Wakefield, CEO designate at Gallagher Re, added: “Pushing the boundaries of innovation and creating client-centric solutions is part of our DNA at Gallagher Re. Above all else, innovation requires investment in the best brains and that’s exactly what we’ve done, adding new capabilities to existing layers of expertise.”