Allianz partners with tech provider on software
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Allianz Global Corporate & Specialty SE and Los Angeles-based technology provider Praedicat are expanding their partnership to include ChemMeta, Praedicat’s science and regulatory risk analytics software for industrial companies, Allianz said in a statement Tuesday.
ChemMeta can help chemical manufacturers and downstream users minimize product safety risks across critical functions, including product stewardship, research and development enterprise risk management, environmental health and safety, and regulatory affairs by providing intelligence on thousands of chemicals and materials, the statement said.
Allianz liability insurance policyholders may receive access to ChemMeta for a defined period, after which they may opt for their own subscription to the analytics, the statement said.
“Those opting to use ChemMeta will better understand which substances are more likely to cause negative impact on human health and well-being or trigger regulatory action in the future, helping them to look around the corner,” Hartmut Mai, Allianz chief underwriting officer, said in the statement.
“Today’s science is tomorrow’s regulatory action, and ChemMeta uses both AI and machine learning to scan, analyze and synthesize data from millions of peer-reviewed scientific journals to identify product risk,” Robert Reville, Praedicat CEO, said in the statement. “The early warning provided by mining technical literature at scale allows companies to make proactive product decisions.”
“One of the exciting developments of insurtech is the ability to bundle insurance with risk insights at scale,” Nina Everding, Allianz Liability head of business analysis, said in the statement. “The Praedicat partnership allows us to bring product stewardship risk insights to our product liability clients.”
Allianz and Praedicat began their partnership in 2014 and regularly publish white papers on emerging liability risks, the statement said.
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