ORX launches insurance loss data sharing service

Six major insurers join on launch, more will follow by 2015 start date

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Simon Wills, ORX

The Operational Riskdata Exchange Association (ORX) has unveiled a data-sharing service for insurers, due to begin operations in 2015. Six major insurers – Allianz, Axa, Generali, NN Groep (part of ING), Swiss Re and Unipol – have already signed up, and four more are in negotiations, ORX says. Diethard Kaiserseder, head of reinsurance operational risk management for Europe, the Middle East and Africa at Swiss Re, says the main benefit will be the ability to meet growing demand for