RiskMD is designed to bring cohesiveness and clarity to insurance companies given disperse and inconsistent data elements and legacy systems, effectively synergizing the company’s data with its carrier, clients, and/or vendor partners.
RiskMD® was first formed in 2005 to support a number of commonly owned and affiliated businesses, including a Program Administrator, MGA/MGU, Consulting Company, Captive Management Company, and Brokerage
RiskMD was forged by the desire to give insurance professionals, buyers, and their actuarial partners credible data pools and comparable business to benchmark and forecast against
The company, along with actuarial fellow and advisory board member Ray Neff, worked with a variety of other actuarial fellows and organizations to understand which data sources and units could be deemed both credible and meaningful in any given insurance transaction.
In order to build a data system that was credible from both an insurance as well as a data/technology infrastructure perspective, RiskMD formed alliances with strategic partners that could provide accretive support throughout the process.
RiskMD was developed to provide progressive and forward-thinking business intelligence to a variety of players in the industry such as:
Reinsurers
Carriers
MGA/MGUs
Agencies
Brokerages
The model’s root in actuarial science affirmed to customers that this venture was not a technology company trying to make its way in the insurance industry, but rather an insurance company invested in a new way of transacting business.
RiskMD takes advantage of its rich history to focus on the acquisition, valuation, and ongoing management of insurance policies, using its trademarked methodology to oversee the profitability of assets and/or entire portfolios, depending on the client.