Markel adopts MIS solution following major cat loss events

Specialist insurer  Markel International, a subsidiary of  Markel Corporation, has partnered with insurtech McKenzie Intelligence Services (MIS) to accelerate its incident and claims responses following major loss events, including natural catastrophes.

Markel has been using MIS’s AI-powered Global Events Observer (GEO) platform for its Lloyd’s syndicate business since 2017. The firm has now chosen MIS to provide rapid event response for its international wholesale business to help boost its exposure management and claims response through post-disaster, high-resolution aerial imagery and other data sources from leading specialist partners.

MIS empowers insurers with trusted intelligence to respond to catastrophes. GEO blends AI and machine learning with expert analysis to deliver a detailed digital representation of global perils at speed and enable fact-based decisions in the immediate aftermath of a catastrophe.

Chris O’Shea, claims director of wholesale at Markel, said: “Extending our relationship with MIS and adopting this latest MIS solution across our event response process gives us another string to our bow when it comes to our award-winning claims service.

“This innovative project with MIS, which has had close involvement from our claims, exposure management, and data science teams, will allow Markel to access MIS’s data hosting service for our property, political violence, and marine books of business, ensuring that business written by Markel benefits from MIS’s post-disaster, high-resolution aerial imagery via the MIS GEO platform.”

Forbes McKenzie, chief executive and founder of MIS, added: “We are delighted to partner with Markel, a globally-renowned business that has selected MIS to provide rapid event response across their business lines to benefit their exposure management and claims processes worldwide.

“By not only adopting GEO but also embedding it into their wider event response process, Markel has provided a great demonstration of best practice, which is something that we would recommend any carrier to look to achieve.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.