Cohort: Cohort 2, 2019
Focus in insurance value chain/workflow: Risk Mitigation, Point of Underwriting, Loss Modelling & analytics
Founded: 2019
Status: Operating, still in insurance
Company type: Data Models, Data Provider
Head office: Europe
Main global offices: Ireland
Locations served: Global
Employee count: 1-10
Describe Data’s product, Kompreno, provides risk and portfolio analysis across a range of business lines. It enables insurers to model both the frequency and severity of future events' using multiple techniques, including machine learning, AI, and Bayesian statistical analysis. Kompreno can also analyse multi-dimensional portfolios supporting risk selection and scenario modelling.
Primary focus product area whilst in the Accelerator: Improving UW tools and processes I New sources of Risk Insight - Data or Models.
Whilst having access to data providers and underwriters in the Accelerator, Describe Data built its prototype of Kompreno, specifically for Directors and Officers insurance products.
“The first week was incredible. It really brought us up to speed with how Lloyd's works and what the essence of the marketplace is, the history and the etiquette. We then went straight into working and meeting our mentors and trying to get as much out of the process as possible.”Michael Crawford, Chief Executive Officer and Co-Founder
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