Aviva enhances exposure management with Orchestra partnership

Authored by Aviva

Our exposure management capability has been boosted after partnering with Symfos, and using its exposure management software, Orchestra, to visualise risks and automate data processing.

Using Orchestra, we're the first insurer to automate data uploads via straight-through processing and are now able to record, report, control and monitor exposures and potential risk accumulations in a visual, streamlined way.

Since we started using Orchestra in 2021, the portfolio roll-up process has been streamlined, with the time taken reduced by 60-70%*. This frees up the exposure management team to better analyse the portfolio and understand the risk exposures present. Underwriters are able to have more meaningful discussions with brokers and customers, providing a detailed view of their entire portfolio or specific risk details, with the ability to drill down and view exposures and losses at a state or country level.

Orchestra has additional sophisticated uses, including real-time awareness when customers have been impacted by an event. During forecasted weather events, such as storms, floods or hurricanes, exposure managers can quickly identify insured risks that could be impacted. This means it can alert customers to the incoming weather and supply advice on what to do. This process has been used already in 2024, mapping out the footprint of the Japan earthquake in January, the Smokehouse Creek Fire in the southern US in March and April and Hurricane Beryl earlier this month, against our exposure.

Symfos is the first independent provider in the market to consume exposure and loss data from all major modelling vendors. In addition, this software is the first to provide a holistic approach by viewing an insurer’s risk from ground-up exposure through to their outwards reinsurance programmes.

Karen Dayal, Chief Underwriting Officer Commercial Lines at Aviva, said: “The use of new technology has transformed our exposure management capabilities, meaning we’re more agile and efficient, and can provide a better service to brokers and clients. As a business we’re always keen to enhance risk decisions, harness efficiencies and embrace new technologies to stay innovative, and this is exactly what we’ve been able to achieve here.”

Bao Cam, Managing Director and founder of Symfos, said: “Our mission is to provide the (re)insurance industry with the best-in-class Pricing and Portfolio Management solution through our Orchestra platform. Through the collaborative work in extending Orchestra with Aviva, we are one step closer to achieving our goal.”