Hannover Re accelerates intelligent underwriting research with Dublin investment

Six-million euro confirmed for data science, software engineering efforts

Trade

Image: Stockfresh

1 October 2021

Hannover Re, the third-largest reinsurer in the world plans to invest more than €6 million in its Dublin Digital research and development (R&D) programme. To facilitate this, the company plans to create up to 16 positions in Dublin over the next four years.

The programme is supported by the Irish Government through IDA Ireland.

The decision marks a significant increase in R&D activities for the Irish subsidiary – Hannover Re (Ireland) DAC – which has focused on the transaction of international life & health reassurance and property & casualty reinsurance business up to this point.

Under the Dublin Digital programme, Hannover Re (Ireland) DAC will leverage the most advanced techniques in text analytics, predictive analytics and computational linguistics in order to accelerate the development of intelligent underwriting technologies capable of replicating human intellect.

The company has already commenced recruiting a number of positions, primarily in the areas of data science and software engineering.

“This investment provides Hannover Re with an exciting platform from which we can leverage Ireland’s world-class talent pool to deliver local innovation on a global scale,” said Niall Mulvey, general manager at Hannover Re (Ireland) DAC. “The addition of highly skilled individuals in the areas of data science and software engineering will accelerate our strategic R&D activities and, ultimately, our adoption of intelligent underwriting technologies.”

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