Reinsurance services

Data analytics

Data are the foundation of our business. An in-depth understanding of data enables us to appreciate the risks being taken, to price and select profitable business accordingly and to actively manage our portfolios. Data analytics contributes to the sound decision-making of the Hannover Re Group, our partners and our clients, ready to shape the future of the industry, develop data-driven strategies and to provide risk-adequate offerings at a fair price to consumers.

Data analytics at Hannover Re: In close collaboration with our clients and with a clear focus on actual business needs

Data analytics encompasses the systematic onboarding and preparation of data, as well as processing and modelling. State-of-the-art IT systems enable us to systematically store and prepare data, enrich it with additional information. They also facilitate a multitude of methods of descriptive and predictive analysis, and their efficient use from product development and pricing to experience monitoring and risk management. As data collection and onboarding are the most labour-intensive steps in any data analysis, automation has become key in improving this process, freeing us from tedious routine and allowing us to focus on the challenges of contextualising the results, and deriving meaningful and actionable insights to discuss and share across all disciplines within the Hannover Re Group.

Throughout this process, we make use of all the recent innovations of data science. However, for us, the tools and algorithms, predictive models and machine learning methods never are an end unto themselves. Rather, we focus on finding the best solution for the problem at hand to improve our actual understanding of the risks taken together with our partners.

We support our clients in drawing the right conclusions from their data to form an improved understanding of consumer behaviour and motivation. Consequently, our data analysts work hand-in-hand with the business development, market representatives, valuation and risk management teams at Hannover Re to identify risks and opportunities for our clients.

Understanding data. Making sound decisions.

We team up with you on your data analytics journey. We create insightful visualisations, provide useful tools and introduce you to innovative data analytics solutions.