Lockton Re, the reinsurance arm of the world’s largest privately held independent insurance broker, has announced that its proprietary analytics platform, Lockton Re‘s SAGE, has been awarded a new US Patent.
This latest patent specifically covers systems and methods designed for custom and real-time visualization, comparison, and analysis of intricate insurance and reinsurance structures.
It builds significantly on the success of the platform’s earlier development, which secured US Patent No. 11,783,427 in October 2023 for its foundational reinsurance structuring capabilities.
At that time, the platform was already serving over 300 clients worldwide, leveraging features like Lockton Re FAC SAGE and Lockton Re SAGELINK to centralize operations and fluidly share data across applications.
"Lockton Re’s SAGE was inspired by our clients, who desired better analytics to support more informed risk transfer decisions," said Lockton Re global head of analytics Adam Troyer.
"The unique software optimizes efficient decision-making, offering our clients flexibility, deep insights, and financial benefits."
The platform’s key features are designed to enable clients to make faster, more informed decisions by providing unprecedented transparency into their risk portfolios.
With data transformed into real-time financial results, the platform allows clients to visualize, design, and modify different structures on the fly to help optimize risk transfer strategies.
Lockton chief digital officer Claude Yoder commented on the significant strategic value of the new patent.
"Analytics has been central to Lockton Re's value since its inception in 2019, and Lockton Re’s SAGE has been on the cutting edge of what is possible ever since," Yoder said.
He noted that the platform is built on a modern stack with a future-ready framework, ensuring it will continue to catalyze growth across the entire marketplace.
"Lockton Re’s SAGE platform stands out for supporting clients as data and analytics become increasingly vital within the (re)insurance industry," Yoder added.
"Securing our latest US software patent is a testament to the pioneering spirit of our global analytics team and our autonomy as an independent organization."
Lockton Re has now yielded three US patents in just three years.
This trend is set to continue as the organization advances a significant slate of additional patents through the pending stage.
