Swiss Re and TNEDICCA, a provider of traffic-crash data and location risk analytics, have announced a strategic partnership. The partnership integrates TNEDICCA’s proprietary Location-Based Risk Score and its location risk data into Swiss Re’s Motor Market Analyzer (MMA) to allow insurance companies to more accurately assess and price auto risk.
“Our Location-Based Risk Score has been empirically proven to improve the profitability of auto insurance companies, with average loss ratio lift of 38%,” said Yiem Subhanich, co-founder and CEO of TNEDICCA. “Partnering with Swiss Re, the largest reinsurer in the world, is a milestone that reinforces the incremental value TNEDICCA brings to the auto insurance industry.”
“We are so excited to incorporate TNEDICCA’s innovative data solutions into the MMA,” said Duare Perez Alonso, head of P&C analytics for the Americas at Swiss Re America. “It will enable us to provide a more granular and precise risk understanding to our clients. With more drivers on the road and loss ratios on the rise, to improve their bottom line auto insurers need to monitor where crashes occur and dynamically incorporate crash location data into their rating territories, beyond just the loss history on garaging locations. We expect this collaboration to lead to many future product enhancements.”