Risk modelling solutions provider Ultimate Risk Solutions (URS) has struck a partnership agreement with consultancy Xceedance that will see the firms collaborate on delivering ERM modelling, actuarial and analytics services to insurance organisations worldwide.
Anya Kutsina, co-founder and executive director of New York-based URS, told InsuranceERM the agreement will involve URS recommending Exceedance to its clients that require consulting services, and Exceedance recommending URS to its clients that require risk modelling and actuarial solutions.
"Partnering with Xceedance is a significant step towards our goal to help insurance organisations tackle challenges they face in risk modelling," said Kutsina.
"The extensive insurance consulting expertise of Xceedance, combined with a powerful suite of URS products, empowers insurers and reinsurers to minimise risks while maximising operational results and growth opportunities."
Kutsina said URS has a number of partnerships which have proven to be fruitful and mutually beneficial with other consultancies – for example, with PwC in Italy – and is in the process of formalising further such agreements.
URS platforms and solutions address analytical challenges the insurance industry faces in risk modelling, including reinsurance evaluation, economic and regulatory capital modelling, catastrophe risk management, asset management and strategic planning.
Its products include Risk Explorer, a dynamic financial analysis platform, and Predictable Dynamics, an economic scenario generator. The firm also offers reserving, pricing and Solvency II capital modelling solutions.