The division of Liverpool Uni aims to revolutionize the insurance sector

Left to right: Nicholas Lockwood, Professor Simon Maskell, Dr Alex Phillips and Andre Finn.

The University of Liverpool became a founding shareholder of the spin-in company, which was set up to develop technology for use in the insurance and financial sectors.

Spin-ins offer companies a new approach to working with universities to develop commercial opportunities in exchange for equity shares.

Intellegri, an established company run by insurance industry experts, will move to the University of Liverpool to commercialize software developed by Professor Simon Maskell from the School of Electrical, Electronics and Computer Engineering.

Intellegri will have exclusive rights to further develop university software for use in the insurance and finance sectors.

Developed by Professor Maskell and Dr Alex Phillips, experts in Bayesian modeling and inference, the software is based on a statistical model that enables accurate, continuous and real-time assessment of insurance companies’ capital risk.

Intellegri is integrating the software with a cloud-based platform to develop a new product for insurance companies, capital providers and their clients to better model their capital adequacy requirements and improve their approach to Solvency II regulation.

Professor Simon Maskell, from the Department of Electrical, Electronics and Computer Engineering, said: “I am thrilled to be part of this new university spin-in company to continue my work. The statistical model used to create this software was developed thanks to my EPSRC-supported Big Hypotheses (BH) research project and the Impact Accelerator Award Fund.

“The goal of the BH project is to develop breakthrough algorithmic solutions that can be applied in real-world settings, across multiple sectors in both industry and government, and this new software is an example of that. I look forward to working with Intellegri in developing this model into a new product.”

Andre Finn, founder and chief strategy officer of Intellegri, said: “Big Hypotheses took over 10 years to develop and was funded with £14 million. It has been proven; enables the calculation of millions of scenarios in near real time and has the potential to revolutionize 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 launch Big Hypotheses.”

Emma Nolan, director of enterprise at the University of Liverpool, will take up a seat on the Intellegri board as a university-nominated director. She said: “This is a great model for the University – working with experienced management teams and their investors can significantly reduce the time to market for university technologies.”

The UK Government used Professor Maskell’s expertise in Bayesian modeling to estimate the R number in the UK during the Covid-19 pandemic. It is currently providing its statistical data to help locate missing Malaysian Airlines flight MH370.

For more information about Intellegri, visit www.intellegri.com or call 0203 603 5357.

The creation of this spin-in was supported by the University of Liverpool’s enterprise team. The University’s portfolio is growing, with 24 spin-out companies established over the last five years.

Watch as the team builds a thriving entrepreneurial ecosystem and a cluster of high-growth companies across the Liverpool City Region and beyond.