PEMBROKE, Bermuda – September 26th, 2019 – Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that Sompo International has enhanced its U.S. Life Sciences risk modeling capabilities through an expanded partnership with Pharm3r, a life science and healthcare data analytics company.
The expanded partnership builds on the use of Pharm3r’s industry-leading analytics by Sompo International’s Bermuda Excess Casualty unit, which offers third-party liability coverage for large companies in a broad range of industries including pharmaceutical and medical device manufacturers. Now, Pharm3r’s data sets and analytics will also be utilized by Sompo International’s Global Risk Solutions (GRS) Life Sciences team.
Known for its holistic approach that considers a client’s risk profile across all lines of business offered, the U.S.-based Sompo GRS Life Sciences team will gain access to enhanced data analytics through Pharm3r, leading to faster turnaround times for clients and brokers and enhancing the team’s risk modeling capabilities for its market contract research, clinical trial, medical device, pharmaceutical and biotechnology accounts.
Sompo GRS works through a network of retail brokers to offer comprehensive multi-line capabilities targeted to accounts in select industry verticals, including life sciences, real estate, hospitality, financial institutions and professional services. Providing a client-centric white glove service approach to each account, Sompo GRS also serves Asian clients with operations in the United States and Mexico.
Ms. Shannon Totten, Senior Vice President, Casualty Insurance Practice Leader Bermuda for Sompo International said,
“For many years, Sompo International has served clients in various segments across the life sciences industry, relying on a range of data sets and predictive analytics to make underwriting decisions quickly and with confidence. We are thrilled to expand our partnership with Pharm3r to support the underwriting and risk modeling capabilities offered by our U.S. colleagues who focus on serving clients in this dynamic sector.”
Mr. Todd Lauer, Senior Vice President and leader of the Sompo GRS Life Sciences team commented,
“Our partnership with Pharm3r provides our life science team with an expanded data set, strengthening our ability to assess and service each account. The ability to combine our expertise in the life sciences industry with Pharm3r’s state-of-the-art analytics enhances the white glove service we deliver to our clients.”
Dr. Libbe L Englander, Ph.D., CEO of Pharm3r said,
“We are thrilled to continue working with Shannon and expand our partnership with Sompo International to include Todd Lauer and the Sompo GRS Life Sciences team. Their deep industry expertise, global reach and commitment to innovation makes them an ideal collaborator for Pharm3r. We look forward to helping Sompo GRS enhance the risk management capabilities they provide to clients throughout the life sciences industry.”
Pharm3r (https://pharm3r.com) is a healthcare analytics firm specializing in using real world data for post market surveillance. The company’s flagship software, PandoraPlus™, is a key analytic tool for a growing client base of insurance underwriters.
For more information about Pharm3r, please visit pharm3r.com.
About Sompo International
Sompo GRS is part of Sompo International Holdings Ltd., a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Through its operating subsidiaries, Sompo International writes agriculture, professional lines, property, marine, energy, casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines, weather risk and specialty lines of reinsurance. Sompo International companies are wholly owned subsidiaries of Sompo Holdings, Inc., whose core business encompasses one of the largest property and casualty insurance groups in the Japanese domestic market. We maintain excellent financial strength as evidenced by the ratings of A+ (Superior) from A.M. Best (XV size category) and A+ (Strong) from Standard and Poor’s on our principal operating subsidiaries. Sompo International’s headquarters are located at Waterloo House, 100 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing address is Sompo International, Suite No. 784, No. 48 Par-la-Ville Road, Hamilton HM 11, Bermuda. For more information about Sompo International, please visit www.sompo-intl.com.
