US RE has launched a new web-based portal, US RE Risk Manager, which enables insurers to identifying cost drivers of reinsurance in a bid to better manage profitability.

US RE Chairman/CEO Tal Piccione said that the product was developed through a strategic partnership with James Campbell of Campbell Insurance Consulting.

The risk manager enables insurers to isolate their worst performers, identify areas of over concentration that contribute to extended exposure and analyze portfolios to seek out profitable areas to expand writings.

US RE senior vice president Scott Polkhinghorne said that the tool enables insurers to formulate new underwriting by identifying the worst performers.

"Likewise, companies will be able to identify profitable segments and formulate strategies to get more of this business," Polkhinghorne added.

The product based on US RE’s optimization methodology, US RE Optimizer, maximises risk-adjusted, total underwriting return on capital while simultaneously trying to minimize the volatility of retained losses.

The tool enables a refined analysis that includes non-catastrophe costs and expenses to minimize the total cost of risk including the risk-adjusted cost of capital in addition to standard catastrophe modelling outputs.