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AIG, Hamilton, Two Sigma to Launch Small-Medium Business Insurance Joint Venture

Gareth Jones

June 3, 2016

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Reposted from News by FinTech Collective

Gareth Jones

insurance

The venture will offer pricing and servicing using predictive analytics and an easy-to-use customer interface, according to the founders.

Two Sigma will also develop specialized asset allocation products for the unique characteristics of insurance investment portfolios. Completion of the joint venture is still subject to negotiating final agreements and obtaining required permits and regulatory approvals. The terms of the transaction have not been disclosed. Brian Duperreault, Hamilton chairman and CEO, will serve as chairman of the board of the joint venture. Richard Friesenhahn, currently executive vice president of U.S. Casualty Lines at AIG, will assume the position of chief executive officer.

http://www.insurancejournal.com/news/national/2016/04/26/406436.htm