Global firm Kennedys has announced its partnership with University College London (UCL) to develop an emerging risk analytical tool for insurers.
The two-year project will use data science to identify and track risks from external data sources, for the benefit of Kennedys’ global insurer clients. The project was conceived by Kennedys’ head of research and development, Karim Derrick, and its head of corporate and public affairs, Deborah Newberry (pictured); UCL’s academic team supporting the project is led by Professor Tomaso Aste, with newly appointed data-scientist, Dr Damla Arifoglu, heading the work for the firm. Funding for the project was secured from the Innovate UK Knowledge Transfer Partnership.
Deborah commented: ‘We’ve long been aware that there is gap in the market for better insights to aid insurers when planning for global emerging risks. This collaboration between business and academia will bring a new take on what is a continuous challenge for insurers.
‘It also reinforces our commitment to doing things differently by helping our insurer clients to mitigate risks and where possible, to use lawyers less.’
Professor Aste said: ‘This is a very exciting collaboration for UCL with one of the world’s most innovative law firms. I am confident that by combining the commercial insights of Kennedys and its clients with our expertise, we will significantly advance how insurers plan for emerging risks.’
