Praedicat’s Company Risk Score

Praedicat’s Company Risk Score

Praedicat’s Company Risk Score 700 350 Meghan Dengler
Praedicat Introduces the Company Risk Score
September 27th Press Release

Our Company Risk Score is a numeric representation of how risky a company is to underwrite, based on how exposed a company is to emerging risks that could drive litigation involving the company as a defendant. In other words, we evaluate and quantify the mass litigation risk for a company, and the result is a Company Risk Score.

Building on our forward-looking, science-based risk models, Praedicat’s Company Risk Score helps (re)insurers understand the mass tort or event-driven D&O securities class action litigation risk their insureds face and underwrite and price to account for this exposure. Our Company Risk Score also helps companies, and their insurers, assess the impact of a company’s operations and products on a variety of environmental endpoints to inform the ESG evaluations that are quickly becoming an important aspect of underwriting decisions.

Praedicat has built a series of AI and machine learning algorithms that connect over 100,000 companies, using industry and revenue information, to their products and business activities and then connect those products and business activities to the global peer-reviewed scientific literatures that investigate the potential for those products and business activities to cause bodily injury and environmental harms.

After simulating the ways in which the scientific literature evolves to understand how harmful companies’ products and business activities are, we estimate the likelihood that litigation will emerge, targeting those product and business activities that scientists think cause bodily injury or environmental damage. We use the model results to distill a company’s products and business activities risk into a single 100-point Company Risk Score.
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Based on peer-reviewed science and objective third-party data, our evaluation is used by companies to better understand the impacts of their products and business activities, and by insurers to underwrite the liability risk of those same companies. As emerging risks get more and more complex, innovations like the Company Risk Score are helping make underwriting these risks a whole lot easier.
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Read the full press release here.

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On October 5th, Carrier Management published an article, “Who Will Be Sued? Praedicat Scores Ease Underwriting for Emerging Risks” which provides a detailed look at Praedicat’s Company Risk Score. The article explores a landscape where emerging risks are becoming more and more complex, and features explanations from Praedicat’s Dr. David Loughran and Julia Fuller on how the Company Risk Score is making underwriting these risks a whole lot simpler.

Read the Carrier Management article here.

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Want a quick overview of the Company Risk Score? Dave Loughran visits with our friend Matthew Grant from InsTech London to discuss the how Company Risk Score summarizes a company’s exposure to emerging risk for the purposes of commercial liability underwriting and how it makes emerging risks actionable.

Click here to watch the short video

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Additional Press

AM BestPraedicat Launches ‘Company Risk Score’ to Simplify Complex Liability Underwriting

Carrier Management – Who Will be Sued? Praedicat Scores Ease Underwriting for Emerging Risks

CIR Magazine – Praedicat expands liability emerging risks underwriting toolset

Commercial Risk – Praedicat launches emerging liability risk score tool to help companies secure cover

Insurance Day – Praedicat launches liability risk analysis tool

InsuranceERM- Praedicat Launches emerging risks tool for liability insurance

Insurance Journal – ‘Attribution Science’ May Help Plaintiffs Push Climate Suits Ahead

Intelligent InsurerPraedicat unveils ‘game-changing’ tool for underwriting complex emerging risks

Reinsurance News- Praedicat moves to simplify underwriting of emerging liability risk

 


Have Questions?

Learn more about Praedicat and our Lloyd’s liability scenario solution, emerging risk framework, COVID-19 offerings, as well as our collaboration with AON Reinsurance Solutions.

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