Our aim is to provide our clients with the tools and support to prosper and thrive. In that regard, we believe that emerging technology will be a significant driver of innovation and success in the future. At Maiden, we are working to bring new technology-based tools and capabilities to our customers.
During the year, Maiden joined a leading Silicon Valley accelerator that brings insurance companies together with entrepreneurs to help identify and support the most promising new technologies. Participating in this venture puts us at the cutting edge while giving our clients full exposure to the latest advancements.
We continue to build new technological tools and improve existing ones. Drawing upon internal data, client data, and both public and proprietary external sources, we have built predictive models that help clients better understand and visualize their risks. In commercial auto ” lately an area with unusually high industry losses ” the latest version of our commercial auto risk scoring (“CARS”) tool uses Department of Transportation data on fatalities and injuries to help our clients better measure the risk of individual trucking company customers. We also feed this data into our upgraded Automated Modelling and Pricing (“AMP”) online pricing tool for facultative risk, and in 2017 will make these scores available to our clients through AMP.