Kennedys IQ and litigation analytics provider Solomonic have announced a new collaboration to explore the use of litigation data within the insurance industry. Kennedys IQ is the tech arm of UK litigation powerhouse Kennedys Law.
Kennedys IQ is working to enable underwriters to analyse risk in a transparent and explainable way throughout the lifetime of the policy and renewal, looking at what has been said about an entity; ESG risk; and litigation risk. It is this latter portion of the project that Solomonic is assisting with. Kennedys IQ is known for its research work and has previously received public funding from the likes of Innovate UK.
The collaboration will deliver on a growing market need for external data to support underwriting, claims, and compliance functions, helping clients better understand risk throughout the insurance lifecycle.
Karim Derrick, chief product officer of Kennedys IQ, said of this new litigation capability: “Litigation being the risk of risks, it will enable our clients to gain a deeper insight into the world around them, and when combined with SmartRisk Machine Intelligence, we avoid data overload and instead provide contextual analysis.”
