Lockton Re secures patent for analytics platform

Lockton Re has introduced that it has secured a United States patent for its proprietary analytics platform, SAGE.

SAGE supplies real-time and customizable visualization, comparability, and evaluation of insurance coverage and reinsurance buildings.

The improvement of the platform has been ongoing, with enhancements to the analytics, know-how, and operational framework. New options have been built-in, reminiscent of Lockton Re FAC SAGE and Lockton Re SAGELINK. The platform serves over 300 shoppers worldwide.

Lockton Re international head of analytics Claude Yoder stated that the strategic option to leverage SAGE as a central operational hub, permitting for extra fluid knowledge sharing and integration throughout functions. The developments in structuring and modeling, paired with enhanced effectivity in capturing, sharing, and analyzing placement knowledge, have accelerated supply and lowered prices.

“Our analytical expertise and capability is at the core of our client value proposition and has really been the bedrock of our success since we started building out the business globally in 2019. As someone who has worked in the technology and analytics arena for many years, it always appeared that Lockton Re’s SAGE had unique qualities to help support our clients and markets,” Yoder stated.

“We now have over 50 global analytics colleagues and this group has been phenomenal from the launch of our SAGE platform through its continued development.  The team has developed very close relationships with clients and markets to improve and maximize the platform. Technology is such an important part of the re/insurance industry but what makes the real difference is the people and expertise behind that capability. Lockton Re are delighted to have been awarded this US patent,” Lockton Re international CEO Tim Gardner stated.

The crew behind the SAGE platform consists of Yoder, in addition to David Lytz, Adam Troyer, and Adam Braithwaite. SAGE was awarded US Patent No. 11,783,427 in October.

What are your ideas on this story? Please be at liberty to share your feedback under.