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Swiss Re and SAS partner to apply AI to catastrophe risk underwriting

The partnership will pair Swiss Re’s CatNet natural catastrophe intelligence with SAS tools aimed at underwriting, pricing, and portfolio management workflows.

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Global reinsurer Swiss Re has partnered with SAS to bring AI-driven risk intelligence and advanced actuarial decisioning into insurers’ operations, with an emphasis on improving resilience as catastrophe exposure rises, Reinsurance News reports.

Under the agreement, Swiss Re will combine its CatNet natural catastrophe risk intelligence with SAS Insurance Life Cycle Accelerator, which SAS says is designed to help insurers incorporate predictive hazard insights directly into underwriting, pricing, and portfolio management workflows.

SAS said the combined offering is built to support automated and advanced decision-making, portfolio risk steering, operational efficiencies, and governance and auditability, aiming to strengthen profitability as well as resilience.

SAS also said insurers cannot rely solely on historical loss data to understand risk, and Swiss Re noted that so-called secondary perils can carry significant financial impact, requiring near-real time insight across portfolios and geographies, according to Reinsurance News.

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