Aon has extended its collaboration with risk data, analytics and technology firm, Moody’s Insurance Solutions, that aims to reduce latency and accumulation risk for casualty reinsurers.

Following its initial partnership in casualty reinsurance, the collaboration will now expand into commercial risk, delivering insights around climate casualty and other emerging risks, risk mitigation strategies, and excess casualty named-peril products to commercial insurance buyers.

The firms say that the expanded collaboration will combine the technology of Moody’s casualty unit – which identifies and models more than 300 emerging risk perils – with Aon’s global relationships in both the traditional and alternative capital sectors. Aon says this synergy enables a more efficient allocation of capital to risk in order to shape better business decisions for Aon clients when managing their casualty portfolios.

Amanda Lyons, global product leader for reinsurance solutions at Aon, said: “Traditional casualty clash solutions have struggled to provide capital-efficient coverage. Our collaboration with Moody’s is now creating products that better reflect exposures and offer more attractive pricing for both commercial risk and reinsurance. This helps businesses make better decisions and supports reinsurance clients and original buyers in confidently pursuing growth strategies.”

Robert Reville, head of casualty market development for Moody’s, added: “The increasingly volatile liability environment challenges the entire value chain of insurance – from the original buyers to their insurers and reinsurers. In this environment, we expect named-peril products to lead to the emergence of a casualty catastrophe market. We are delighted to work with Aon to drive such innovation in the reinsurance market.”

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