By integrating Synthetik’s AI-based cityscape modelling, Guy Carpenter aims to be more effective and precise in offering its terrorism modelling product
Guy Carpenter partners with Synthetik. (Credit: Pixabay/planet_fox.)
Guy Carpenter, a reinsurance provider and an affiliate of Marsh & McLennan, has entered into an exclusive multi-year partnership with Synthetik to further enhance Sunstone, its terrorism modelling product.
Synthetik is a Texas-based technology company that helps to mitigate threats including terrorism, extreme events and global environmental impacts.
With its artificial intelligence-based (AI) applications, Synthetik supports commercial clients and US government agencies by offering them computer vision and machine learning expertise for large-scale data generation.
Specialising in the explosive blast and weapons effects modelling, it helps in developing data science applications, models and simulation code.
Synthetik’s computational modelling for global terrorism (re)insurance market will now be incorporated into Guy Carpenter’s terrorism insurance loss model software.
Guy Carpenter global strategic advisory & analytics president Rob Bentley said: “Guy Carpenter’s exclusive relationship with Synthetik secures this unique capability that we have developed together over recent years and will accelerate the terrorism modelling work.
“Synthetik brings very exciting technology to the reinsurance market and much-needed sophistication to terrorism analytics.
“Their research and development work with government bodies brings credibility and validation to the tool and valuable insight from outside the (re)insurance sector. We look forward to supporting our clients with this new capability.”
By applying Synthetik’s 3D blast load calculation software, a virtual representation of central business districts is claimed to provide an accurate calculation of blast loading, including full computational fluid dynamic (CFD) modelling and sophisticated structural response.
Synthetic’s technology can help Guy Carpenter in identifying client’s exposures
The technology fits well with Sunstone, the insurance firm’s global terrorism portfolio risk model. The latest integration will allow the company to better interrogate a client’s most concentrated exposures.
The cityscape modelling is claimed to bring precision, scale and speed, enabling Guy Carpenter to more effectively advise its clients.
Synthetik co-founder Tim Brewer said: “We are delighted to enter this strategic alliance with Guy Carpenter and for the opportunity to set the standard for terrorism analytics in the (re)insurance market.
“This application of Synthetik’s modelling software will provide Guy Carpenter with the ability to more effectively quantify the losses associated with hypothetical terrorist attacks in terms of both property damage and building occupant vulnerability.
“Synthetik’s technology, data and experience, particularly from the defence industry, allow Guy Carpenter to work with more sophisticated damage models for terrorist attack scenarios, and to capture the essential physics associated with explosive events in dense urban areas, in order to provide more accurate analyses to its clients.”