"Matthew's research and experience helped identify the opportunities for TigerRisk to grow our global analytics business. The research he conducted with users and buyers, coupled with his quantitative assessment of the market, have given us full confidence to expand our investment in Tiger Eye and our other analytical products"
Jayant Khadilkar, TigerRisk Partners
TigerRisk Partners is one of the fastest growing insurance/reinsurance risk to capital advisory firm with a reputation for providing innovation capital management and analytical solutions to its clients. In 2009, the company saw the need to create a new tool, TigerEye, to address two critical gaps in the catastrophe models used by their clients and reinsurance markets: the ability to apply complex reinsurance treaty pricing analytics and to roll up of multi-model portfolios.
Until the release of Tiger Eye reinsurers had to build their own tools or accept limitations in the accuracy of reinsurance pricing. This created challenges when pricing some of the more sophisticated reinsurance programmes coming into the market. TigerRisk Partners brought together a core team of actuaries, analyst, brokers, developers and account managers to build, sell and support a hosted application that successfully overcame the market's problems. In a short time, they built a very loyal client base and covered the costs of building and running the application. TigerRisk was being asked to expand the capabilities of their analytical tools so they could be further integrated into its clients' workflow. Abernite worked closely with the Tiger Risk team and their global clients to quantify the opportunity over the next three years and ensure that the return on revenue, and client utilisation would justify the additional round of investment. Matthew Grant lead the development of a business case that used data gathered both from speaking directly to current and future clients, and from third party sources relating to market size.
The resulting business plan was approved by the internal investment committee. The commitment to future investment has seen the use of Tiger Eye grow amongst global reinsurers and insurers, with a new stream of analytical tools becoming available in the years ahead.