ABI launches loss event database for insurers
LONDON – A new loss event database for insurance companies was launched at the end of September by the Association of British Insurers (ABI), in conjunction with software firm SAS.
The two organisations believe the database will enable the insurance industry to "jump the banking industry in terms of sophistication" when it comes to loss event data collection, says Peter Vipond, director of financial regulation and taxation at the ABI. Peyman Mestchian, head of the risk intelligence practice at SAS EMEA, says he agrees that the ABI has an opportunity to overtake the banking industry's Operational Riskdata eXchange (ORX) project, which last month announced a partnership with
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