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Russell Group, a London-based data and analytics company, has announce an expansion of the company’s data universe via a comprehensive loss data license with Advisen (New York), a Zywave (Milwaukee, Wisc.) company.
Russell Group explains the value of the latest expansion of its available data by noting chief executives must focus on maximizing shareholder value while managing corporate risks, and that in today’s complex risk landscape, these two priorities are under threat from connected risks. As a result, emerging and systemic risks pose looming obstacles for corporates and their (re)insurers, the company argues. The datasets the Russell Group adds through its license with Advisen, which include the largest repository of Cyber, US D&O, International D&O and Casualty case collections, will power and drive the Russell Universe, Russell Scenario Factory, and Russell ALPS solutions for Russell’s clients and partners in both the specialty (re)insurance and corporate sectors.
Russell characterizes its multi-year licensing agreement with Advisen representing a significant advance for the company, as not only does it extend its current specialty business offering, but also serves to signal Russell’s intent to expand its book of business with service offerings aimed at the U.S. marketplace.
“Our ability to inform our corporate and insurance company clients continues to grow as we integrate data to assess the significance of external risks and their impact on our clients’ exposures,” comments Suki Basi, Managing Director, Russell Group. “We are extremely pleased to partner with Zywave and incorporate their state-of-the-art Advisen loss data into our unique approach of Connected Risks.”
“For almost a decade, we have been connecting loss events arising from the same cause which means we demonstrate how various risks accumulate to cause greater devastation,” comments Jim Blinn, EVP, Client Solutions, Zywave. “Suki Basi and the Russell Group are well-positioned to analyze these aggregation factors, and we look forward to building a long and rewarding commercial relationship.”