Guy Carpenter Using Synthetik to Model Terrorism Risk
Guy Carpenter & Co. says it has entered into “an exclusive multi-year agreement” with Synthetik Applied Technologies to enhance its proprietary terrorism modeling product, Sunstone.
Synthetik is an Austin-based engineering company that specializes in explosive blast and weapons effects modeling. The company works with
both government bodies and the private sector to develop data science applications, models and simulation code.
Synthetik provides state-of-the-art computational modeling for the global terrorism (re)insurance market, Guy Carpenter said in a press release. Synthetik’s 3D blast load calculation software has been applied to cityscape models to provide a virtual representation of central business districts around the world. The software allows for accurate calculations of blast loading, including full computational fluid dynamic modeling and sophisticated structural response.
The technology works with Sunstone, Guy Carpenter’s global terrorism portfolio risk model, and allows the firm to better interrogate a client’s most concentrated exposures. This greater precision reduces uncertainty and can result in more accurate probable maximum losses than those generated by less sophisticated techniques, Guy Carpenter said.
Guy Carpenter, based in New York City, is a subsidiary of Marsh & McLennan.
Jopari Launches Digital Mailroom Solution
Jopari Solutions, which provides electronic healthcare billing software to property and casualty insurers, announced the launch of a digital mailroomproduct that acts as a bridge between paper and electronic documents.
Jopari’s Digital Mailroom allows for a common set of processes to be implemented to save costs while improving processing quality, the company said in a press release. The product complies with the Health Insurance Patient Protection and Accountability Act.
“We are excited to add this product to our portfolio as the industry is still processing a lot of paper medical claims and related artifacts in their mailrooms”, said John Gilmartin, chief operating officer at Jopari. “Managing a mailroom with a daily influx of paper and faxes relating to healthcare is expensive, time consuming, and requires specialized skills and experience.”
The Digital Mailroom receives documents through mail or fax, sorts and scans using optical character recognition (OCR) technology or data capture. The solution has an average turn-around time of 24 hours, 99.5% field level accuracy, is configurable by payer, and includes numerous reports, Jopari said.
Jopari Solutions is a technology provider based in Concord, Calif.
Sapiens Adds Clara Analytics Tool to CoreSuite
Sapiens Americas has entered into an agreement with Clara Analytics to add the Silicon Valley software company’s predictive analytics tool to its CoreSuite for Workers’ Compensation product.
The partnership will improve customers’ processes and provide access to in-depth analysis for proactive risk mitigation, Sapiens said in a press release.
The collaboration will help facilitate interventions for loss-time injured workers who are most likely to benefit from them and the ability to simulate the costs and benefits of existing early intervention programs, under a predictive modeling framework.
Sapiens, based in Raleigh, N.C., is wholly owned by Sapiens International Corp. Clara Analytics is based in Santa Clara, Calif.
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