Lockton Re secures patent for analytics platform

Lockton Re has introduced that it has secured a United States patent for its proprietary analytics platform, SAGE.

SAGE offers real-time and customizable visualization, comparability, and evaluation of insurance coverage and reinsurance buildings.

The event of the platform has been ongoing, with enhancements to the analytics, expertise, and operational framework. New options have been built-in, comparable to Lockton Re FAC SAGE and Lockton Re SAGELINK. The platform serves over 300 purchasers worldwide.

Lockton Re international head of analytics Claude Yoder stated that the strategic option to leverage SAGE as a central operational hub, permitting for extra fluid information sharing and integration throughout purposes. The developments in structuring and modeling, paired with enhanced effectivity in capturing, sharing, and analyzing placement information, have accelerated supply and decreased prices.

“Our analytical experience and functionality is on the core of our shopper worth proposition and has actually been the bedrock of our success since we began constructing out the enterprise globally in 2019. As somebody who has labored within the expertise and analytics area for a few years, it all the time appeared that Lockton Re’s SAGE had distinctive qualities to assist assist our purchasers and markets,” Yoder stated.

“We now have over 50 international analytics colleagues and this group has been phenomenal from the launch of our SAGE platform by way of its continued improvement.  The workforce has developed very shut relationships with purchasers and markets to enhance and maximize the platform. Know-how is such an necessary a part of the re/insurance coverage trade however what makes the actual distinction is the individuals and experience behind that functionality. Lockton Re are delighted to have been awarded this US patent,” Lockton Re international CEO Tim Gardner stated.

The workforce behind the SAGE platform consists of Yoder, in addition to David Lytz, Adam Troyer, and Adam Braithwaite. SAGE was awarded US Patent No. 11,783,427 in October.

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