From l to r: Nicholas Lockwood, Prof Simon Maskell, Dr Alex Phillips and Andre Finn.
The University of Liverpool has become a founding shareholder in a spin-in company which has been formed to take forward technology for use in the insurance and financial sectors.
Spin-ins offer a new approach for companies to collaborate with universities to develop commercial opportunities in return for an equity stake.
Intellegri, an established company led by insurance industry experts, will spin-in to the University of Liverpool to commercialise software developed by Professor Simon Maskell, from the School of Electrical Engineering, Electronics and Computer Science.
Intellegri will have exclusive rights to further develop the University’s software for use in the insurance and financial industries sector.
The software developed by Professor Maskell and Dr Alex Phillips, experts in Bayesian modelling and inference, is based on a statistical model that can accurately, continuously and in real time assess the capital risk for insurance companies.
Intellegri is integrating the software into a cloud-based platform to develop a new product for insurance companies, capital providers and their customers to better model their capital adequacy requirements and improve their approach to Solvency II regulation.
Professor Simon Maskell, from the School of Electrical Engineering, Electronics and Computer Science, said: “I am excited to be part of this new University spin-in company to take forward my work. The statistical model that has been used to create this software was developed through my EPSRC-supported Big Hypotheses (BH) research project and Impact Accelerator Award funding.
“The aim of BH project is to develop ground-breaking algorithmic solutions that can be applied in real world settings across many sectors in both industry and government and this new software is an example of that. I look forward to working with Intellegri to develop this model into a new product.”
Andre Finn, Founder and Chief Strategy Officer of Intellegri, said: “The Big Hypotheses model has been over 10 years in development, with funding of £14 million. It’s proven; it’s capable of calculating millions of scenarios in near-real time and it has the potential to revolutionise capital reserving and reporting for insurers.
“We are thrilled to welcome Professor Maskell, Dr Phillips and the University of Liverpool to the Intellegri team as we take the Big Hypotheses model to market.”
Emma Nolan, Head of Enterprise at the University of Liverpool, will take a seat on the Board of Intellegri as University nominee Director. She said: “This is a great model for the University – working with experienced management teams and their investors can significantly accelerate the time to market for University technologies.”
Professor Maskell’s expertise in Bayesian modelling was used by the UK Government to estimate the UK’s R number during the COVID -19 pandemic. He is currently providing his statistical insight to help locate the missing Malaysian airlines flight MH370.
You can find out more about Intellegri at www.intellegri.com or by calling 0203 603 5357.
The formation of this spin-in was supported by the University of Liverpool’s Enterprise Team. The University’s portfolio goes from strength to strength, with 24 spin-out companies formed in the last five years.
Take a look at how the team are creating a thriving entrepreneurial ecosystem and cluster of high growth companies across the Liverpool City Region and beyond here.