Over 300 companies are currently using the platform.
Lockton Re has announced that it has received a United States patent for its proprietary analytics platform, SAGE.
Insurance and reinsurance structures can be viewed, compared, and analysed in real time with SAGE.
Improvements to the platform’s analytic capabilities, technological infrastructure, and operational structure are continuing. Lockton Re SAGELINK and Lockton Re FAC SAGE are two of the new features that have been included. Over 300 companies from around the world are using the platform.
Claude Yoder, head of analytics for Lockton Re worldwide, explained that SAGE was chosen as a strategic operational hub to facilitate easier data sharing and integration across applications. Improvements in the capture, exchange, and analysis of placement data, along with developments in structuring and modelling, have sped up delivery while decreasing costs.
“Our analytical skill and capability is at the core of our client value offering and has really been the backbone of our success since we started growing out the business globally in 2019. Yoder, who has spent his career in the field of technology and analytics, has noted, “SAGE at Lockton Re has always seemed to have unique qualities that help support our clients and markets.”
From the introduction of our SAGE platform to its ongoing evolution, our team of more than 50 global analytics colleagues has been nothing short of outstanding. In order to enhance and fully use the platform, the team has formed deep bonds with both clients and markets. Even though technology plays a crucial role in the re/insurance sector, it is the people and their knowledge that truly set them apart. Lockton Re’s global CEO, Tim Gardner, expressed his company’s elation upon receiving the US patent.
Yoder, together with David Lytz, Adam Troyer, and Adam Braithwaite, are the brains behind the SAGE platform. In October of this year, SAGE was granted U.S. Patent No. 11,783,427.
Mark Wilkinson, who will be located in the London branch of Lockton Re’s reinsurance division, was recently named international head of analytics.
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