Global reinsurer Swiss Re (Swiss Re) has formed a partnership with SAS, a global leader in data and artificial intelligence, to help insurance companies strengthen their resilience through artificial intelligence-driven risk intelligence and advanced actuarial decision-making.
The partnership between the two companies reportedly reflects a “broader industry shift” towards insurance operations combining artificial intelligence and advanced analytics, disaster intelligence and human expertise to support decision-making.
As a member of the SAS Strategic Technology Partner program, Swiss Re is now integrating its CatNet natural catastrophe risk intelligence with the SAS Insurance Lifecycle Accelerator, enabling insurers to integrate predictive risk insights directly into underwriting, pricing and portfolio management workflows.
According to SAS, the product will provide insurers with powerful data integration, automated and advanced decision-making, portfolio risk guidance, proven operational efficiencies, bottom line and volume growth, and strong governance and auditability.
The company said these combined capabilities are designed to improve operational efficiency while enhancing profitability and resilience to disaster risks.
Stu Bradley, senior vice president of risk, fraud and compliance solutions at SAS, commented: “Insurers cannot rely solely on historical loss data to understand risk.
“SAS’ AI and actuarial modeling capabilities combined with Swiss Re’s catastrophe intelligence will enable insurers to make faster, more transparent, and more resilient underwriting and pricing decisions.”
Ali Shahkarami, head of insurance risk data solutions at Swiss Re, said: “Secondary risks are not secondary in terms of their financial impact. Insurers need to be able to understand in near real-time how risks evolve across portfolios and geographies.
“Together, Swiss Re and SAS help insurers integrate catastrophe intelligence directly into underwriting and actuarial decisions so they can better predict risk, close protection gaps and build more sustainable investment portfolios.”
“The future of insurance will be led by companies that embrace the ‘new collar’ concept,” said Franklin Manchester, principal global insurance advisor at SAS. “When the dust settles, insurance professionals partnering with AI agents to bring agility to decision-making will be the hallmark of leaders and the nemesis of laggards.”
