Who We Are
Argo Group is focused on helping businesses stay in business. To achieve that mission we constantly explore the evolution of our clients’ industries, the corresponding threats, and how to minimize or even eliminate their effect on business. We have built a robust research and development (R&D) program creating state-of-the-art models outperforming the competition in risk selection, maximizing return on equity while minimizing capital expenditures.
Areas of focus in constant states of change from a variety of factors include Cyber, Clean Energy, Natural Catastrophes (CAT), Climate Change, Mortgages and Pandemics.
“As global climate continues to change, it’s predicted that while hurricanes may become less frequent overall, they are likely to be more intense, with stronger winds and extreme precipitation. The intensity of storms creates a growing problem as well as an opportunity for our industry, particularly in the U.S., where flood insurance reform has become an urgent priority for both the industry and government institutions.”
Federico Waisman, Ph.D., Argo Group SVP, Research and Development
Our Research & Data Models
Argo Group has organized external events to raise awareness within the reinsurance market of the various third-party models and their underlying assumptions and data and, specifically, their application in the context of climate risk/climate change.
The U.S. Flood Model Showcase
Overview and analysis of the new U.S. inland flood models from all the major CAT modeling firms along with commentary on the results and their implications for the industry.View Showcase
The U.S. Hurricane Model Showcase
Overview and analysis of the U.S. hurricane models from 2017 events from all the major CAT modeling firms along with commentary on the results and their implications for the industry.View Showcase
Argo Group recognizes the impact of climate change on the global community, affecting nearly every sector of business. It has been the inspiration for the development of new clean energy models. It is a catalyst for the predictive climatology models that call for stronger and more frequent hurricanes, earthquakes, droughts, wildfires and floods. The changing climate is expected to add fuel the fires of political instability in certain global markets.
We have developed our own view of risk, which is used to make underwriting and management decisions. It is based on a combination of third-party vendor models, plus our proprietary adjustments.
In cases where a model does not exist or is not appropriate, we have developed proprietary models: for example, for North American wildfires, marine, political violence, clean energy and others.
Argo Group is an active participant in ClimateWise, a global insurance industry leadership group facilitated by the University of Cambridge Institute for Sustainability Leadership. In 2019, we were honored to have Argo Group SVP, Head of Analytics, Dr. Federico Waisman elected to the ClimateWise Managing Committee. Argo Group has also organized external events, linked below, to raise awareness within the reinsurance market of the various third-party models and their underlying assumptions and data, and specifically, their application in the context of climate risk/climate change.
The Argo View of Risk
We developed the Argo View of Risk (AVR) to keep current through the development of our own proprietary models and calibrated with validated models from third-party vendors. We constantly review and analyze risk through this lens in order to develop new services, tools and products, and improve existing ones.
Since the AVR informs our team’s work, it is vital that it stay current. Doing that requires continual work by a dedicated team of innovative peril scientists armed with extensive insurance experience. They provide tools to Argo Group’s underwriting divisions that allow them to outsmart the competition in risk selection and return on equity while minimizing capital requirements.
The Perils Steering Committee
The Argo Group Perils Steering Committee (PSC) governs potential changes to the AVR. Its recommendations are communicated to the Group Internal Model Steering Committee, Group Property Steering Committees and the Executive Group. Any changes are reviewed and challenged by key stakeholders in the appropriate business. Once ready, they are submitted for approval to the PSC.