Allianz Global Corporate & Specialty (AGCS), and Praedicat, an insurtech analytics company based in Los Angeles, have expanded their partnership to provide access to ChemMeta, Praedicat’s software product delivering science and regulatory risk analytics for industrial companies.
ChemMeta allows both chemical manufacturers and those who incorporate chemicals downstream to minimize their product safety risks. Based on the peer-reviewed scientific literature and risk analysis, ChemMeta provides companies customized intelligence on thousands of chemicals and materials to help identify risks across critical functions, including product stewardship, R&D, enterprise risk management, EHS and regulatory affairs.
According to Hartmut Mai, chief underwriting officer, AGCS, clients that use ChemMeta will better understand which substances are more likely to cause negative impact on human health and wellbeing or trigger regulatory action in the future.
Robert Reville, CEO of Praedicat, said ChemMeta uses both AI and machine learning to scan, analyze and synthesize data from millions of peer-reviewed scientific journals to identify product risk. It offers early warning provided by mining technical literature at scale.
AGCS liability insurance policyholders may receive access to ChemMeta for a defined period. After this period, they can opt for their own subscription to the analytics.
AGCS and Praedicat began their partnership in 2014 to better predict key catastrophe liability risks of the future. AGCS and Praedicat also regularly publish white papers on emerging liability risks; the most recent risk bulletin “The Toxic Trio” investigates the potential impact of hazardous chemicals in personal care products.
AGCS is the Allianz Group’s dedicated carrier for corporate and specialty insurance business. AGCS provides insurance and risk consultancy across the whole spectrum of specialty, alternative risk transfer and corporate business: marine, aviation (incl. space), energy, engineering, entertainment, financial lines (incl. D&O), liability, mid-corporate and property insurance (incl. international insurance programs).
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