Futuristic Forecasting: Mulberry Risk’s BIA 2023 Nomination

July 28th, 2023

Mulberry Risk nominated for the Best Use of Technology award at the Broker Innovation Awards 2023.

We are delighted to announce that Mulberry Risk has been nominated for the prestigious Best Use of Technology award at the Broker Innovation Awards 2023.

The awards ceremony, which celebrates the innovations of insurance brokers, MGAs and Insurtechs, will take place on 7th September at the Leonardo Royal Hotel, St Paul’s.

Solving Problems With Technology

Mulberry Risk has made waves in the insurance industry in recent years with our groundbreaking technology and this nomination is a testament to our commitment to pushing boundaries of what’s possible in the world of actuarial consulting. At the heart of our success is our revolutionary artificial digital actuary, ADA.

Traditionally, actuaries have faced challenges in accurately predicting the future and identifying key ULR drivers based on historical data. However, ADA takes a different approach by using cutting-edge algorithms and machine learning to forecast ULRs and provide invaluable insights.

One of the remarkable success stories of ADA’s implementation is its partnership with Rokstone. With ADA’s assistance, Rokstone not only exceeded all targets but retained 100% of its capacity and added 10 new carriers. Rokstone’s exposure management framework, powered by ADA, now stands unrivalled, with automatic portfolio modelling becoming a reality.

There Is No ‘I’ In Technology

ADA is the world’s first portfolio forecasting platform and its development would not have been possible without the outstanding teamwork between actuaries and software engineers. Effective communication and seamless collaboration between these teams resulted in the birth of ADA, the insurance software of the future.

Why Mulberry Risk’s Technology is Future-Proofed

What makes ADA future-proofed is its foundations in agile methodologies and engineering practices. Our commitment, at Mulberry Risk, to continuous learning and adopting the latest technologies ensures that ADA remains at the cutting edge of software engineering. The use of cloud systems and widely supported software engineering languages further enhances ADA’s flexibility and scalability.

Mulberry Risk’s engagement with a leading ESG Ratings and Advisory consultancy to measure the sustainability factors and ethical impact of our business showcases our dedication to responsible and future proofed technology development.

It’s Only The Beginning

As the Broker Innovation Awards 2023 draw closer, the entire Mulberry Risk team is excited and honoured to be recognised for their exceptional contribution to the insurance industry. Congratulations to the team for this well-deserved nomination.

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