One Concern, a resilience-as-a-service solutions provider with a focus on providing upfront information on potential financial impacts of climate related loss events, has appointed former RMS employee Tim Kinsella as its Executive Director, Sales – P&C Insurance.
One Concern offers climate related analytic services with a unique approach of using artificial intelligence to try and understand, estimate, and forecast, the potential implications and losses from climate and weather catastrophes.
Earlier this year, the company launched its first full digital twin, alongside a data service to help companies understand the implications of events, which we explained at the time has ramifications and provides a glimpse of the future that can help in designing risk transfer and insurance-linked securities (ILS) products.
Now, in a sign of One Concern’s increasing focus on the insurance and reinsurance sector and how its products can both help carriers understand risks in their portfolios, as well as develop new risk transfer products such as using parametric triggers, the hiring of Kinsella signals an increasing push to gain insurance and reinsurance industry clients.
Kinsella was a Senior Client Director at catastrophe risk modeller RMS for almost four years, having joined the firm at the beginning of 2019.
He was one of the sales leaders for the
Prior to that, Kinsella worked at CoreLogic as a sales executive for two and a half years, before which he worked as a consultant for a few years.
In 2011 and prior Kinsella worked in the insurance and reinsurance industry, with roles at renewables focused underwriting company GCube Insurance Services, AIG in an operational and systems role for the P&C segment, and also spent time at Cap Gemini and EY consulting to insurance clients.
At One Concern, Kinsella’s experience and his network across insurance and reinsurance markets, will help the company open doors and gain new clients for its advanced analytical tools and services.
One Concern’s advanced technological approach to climate and disaster analytics can provide greater visibility of potential natural hazard or climate related impacts, enabling easier loss quantification and exposure measurement, which can be beneficial both for risk protection buyers and also markets deploying insurance or reinsurance capacity.
These upfront views of risk gaps and risk impacts also have product potential, as they can provide data-structures that could be used to underpin triggers for insurance, reinsurance, or other forms of risk transfer, including parametric.