CAC Specialty teams up with Liberty Advisor Group on new data analytics insurance platform

Specialty insurance brokerage and investment banking business CAC Specialty has formed a strategic partnership with consulting firm Liberty Advisor Group to create a new real-time data analytics insurance platform.

CAC said the new platform will allow clients to analyze real-time information, enable better execution of risk and financing decisions through the combination of quantitative and qualitative tools alongside third-party data delivery.

This platform is designed to streamline legal processes and provide AI-powered document analysis to reduce time spent on risk management activities and improve operational capabilities.

Cybeta, a cyber data science company incubated and recently spun out of Liberty Advisor Group, will further enhance the solution with its predictive Threat Alpha and Threat Beta metrics, which calculates the complete financial and business impact to a client’s organization from a cyber-attack. It illuminates cybersecurity priorities by applying financial rationale to decisions and provides the facts and intelligence needed to make the best technology ROI decisions in real-time.

“We are excited to partner with two world class firms in Liberty Advisors and Cybeta," said Eric Joost, EVP and chief technology & global markets officer of CAC Specialty. "CAC Specialty executives have long held the vision of digitizing all elements of the insurance ecosystem - advisory, brokerage, service, operations through technology complimented by colleagues and clients. With the addition of the data analytics platform, we will further enhance a key component of client experience by further enabling highly informed risk and risk financing decisions.”

Chad Smith, CEO of Liberty Advisor Group, said: “We are so excited to partner with CAC Specialty on this innovative, groundbreaking project. Our goal is to better serve the needs of brokers, underwriters and customers by bridging technology and customer needs with the power of data analytics.”