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MONTE CARLO, Monaco – Reinsurance brokerage Guy Carpenter LLC launched an insurtech advisory service Sunday, designed to help insurers assess the growing number of technology products targeting the insurance sector.
The service, GC Genesis, will use a proprietary database, covering “thousands” of insurtech operations, and provide advice on how the various offerings fit with individual insurers’ strategic objectives, said Claude Yoder, chief innovation and product development officer at Guy Carpenter in New York.
He was speaking at the Rendez-Vous des Septembre, the international reinsurance market meeting that takes place each September in Monte Carlo, Monaco.
The assessment will begin with a “fitting process,” which reviews an insurer’s business strategy and how insurtech services can accelerate the strategy, he said.
Deeper analysis can be provided by data scientists and other technology experts accessed through Guy Carpenter’s alliance with Numerati Partners LLC, a New York-based technology consultancy, ultimately matching insurers with insurtech vendors, he said.
Guy Carpenter & Co. L.L.C., a subsidiary of Marsh & McLennan Cos. Inc., said Monday it appointed former Goldman Sachs Group Inc. executive Shiv Kumar to the newly created position of president and global leader of GC Securities, capital markets.