Guy Carpenter & Co., the global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Cos., announced a multi-year, global strategic partnership with Reynolds Porter Chamberlain Consulting (RPCC) to license and develop proprietary applications to run within RPCC’s Tyche software.
London-based RPCC is a professional services firm providing global actuarial, analytic and software services to the insurance industry from a United Kingdom and European base.
Tyche said a superior computing engine combines the ability to process data in extreme quantities in real time and a comprehensive library of solutions to deliver advanced subtitle, pricing, allocation, portfolio optimization and capital management analytics on a single platform. Guy Carpenter is in a declaration explaining the partnership.
Tyche will complement Guy Carpenter’s current actuarial and capital modeling platform, MetaRisk®, and the company’s customer solutions will continue to be a cornerstone of its toolkit.
Tyche’s interoperability with MetaRisk and its ability to span property and accident, life and composite markets has added Guy Carpenter’s ability to integrate data, analysis and output from MetaRisk and other industry analytics platforms while developing and delivering consulting and broker solutions for Guy Carpenter customers.
Under the agreement, Guy Carpenter will have exclusive access to RPCE’s Tyche software among all insurance and reinsurance brokers.
“Our customers are increasingly looking at actionable, analytical insights to inform strategic decisions about volatility, capital and growth. Rob Bentley, president of Guy Carpenter Global Strategic Consulting, has provided the Tyche contract Guy Carpenter with platform interoperability and industry leader computing power, enabling us to develop sophisticated solutions to meet our customers’ needs.
“We are delighted that Guy Carpenter has chosen to partner with Tyche to provide analytical heavy lifting, which is increasingly demanded by the insurance industry of RPCC. Tyche’s computing power provides real-time analytics time to help companies quickly respond to the ever-changing landscape in which they operate. ”
Simultaneously with the announcement of the exclusive license agreement, Guy Carpenter and RPCC collaborated on the first jointly developed application based on Tyche, which will provide real-time internal and external reinsurance portfolio analysis on the London market.
The application will help Guy Carpenter customers optimize their reassurance portfolio allocations. The two companies will market and license their solution partnership.
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