Audeamus Risk is an Australian InsurTech start-up and the world’s first Risk Transfer Exchange serving both mainstream and alternative Insurance and Re-Insurance industries through provision of non- modeled data. With the launch of the BIAX module, our exchange will be able to transact Business Interruption and Recovery information; based on results obtained through certified Business Impact Analysis (BIA), associated telematics and fully implemented Business Continuity Management Plans.
Business Interruption and disruption of various supply chains produces billions of dollars of losses each year, while growing interdependencies of newly emerging technologies and lack of timely translation of data generated by various devices pose a hidden risk to swift recovery. Audeamus Risk aims to reduce the complexity by facilitating more well-informed decision making.
According to the latest surveys and market intelligence reports prepared by major Insurance and Re-Insurance companies, Business Interruption and Supply Chain Risk is the number one corporate risk management concern globally.
The Audeamus (Latin: "may we dare, may we venture, may we risk") platform has been developed not only in response to these market needs but also as an effort to cross-pollinate the use of Business Continuity Management science with Insurance and Re-Insurance industries, which historically have been operating in silos.
Audeamus Risk is regulated by the Australian Securities and Investment Commission (ASIC) and is a member of the FinTech Australia.
To have the Audeamus Risk & Impact Exchange become the world’s main harvester of original risk data that can be segregated with intelligent algorithms for use in dynamic risk modelling, business interruption insurance quotations, and financial securitisation through Insurance Linked Securities (ILS) and other related products such as Sidecars, ILW, Cat Bonds and Cat Bond-lite.
One of the unique values of our proprietary risk & impact exchange platform is the usage of actual (non-modelled) data from the BIA, Telematics, and IoT sensors enabling data source reliability and process integrity. Recently announced ISO22317 (Business Impact Analysis - BIA) and ISO22318 (BIA in Supply Chain) International standards have paved the way for a more structured approach in gathering appropriate information and at the same time enabled our unique IP to maximise its potential.
In phase I, Audeamus Exchange will facilitate Business Interruption and Recovery data only. Various companies, banks and other organisations would be able to offload the risk, or access insurance coverage through the BIAX B2B platform, which is currently in Beta testing environment.