Cat modeller’s risk management systems to be used under licence

AIR Worldwide has announced that Barbican Insurance Group will use its catastrophe risk management systems.

Barbican trades as Lloyd’s Syndicate 1955 and writes a broad range of property direct and facultative, casualty treaty, marine treaty and UK regional business including property. Barbican will use AIR's software to assist in the management of its global catastrophe risk.

“AIR's catastrophe risk management system helps us to control and efficiently monitor our worldwide catastrophe exposures,” said Conor Finn, divisional manager at Barbican. “Being a start-up, we needed to build our catastrophe modelling operation very quickly. AIR’s approach has helped us to do that.”

Yen Chin, business development executive at AIR Worldwide said: “At AIR’s London operation we have the local expertise and experienced staff to support Barbican with a range of professional services, from policy and schedule data processing to exposure management and risk modelling, while they build their team. This is vital for start-up companies such as Barbican who need to respond to market opportunities at short notice.”