TYSONS, Va.--(BUSINESS WIRE)--QOMPLX, a leader in cloud-native risk analytics, has entered into a definitive agreement to acquire RPC Tyche LLP, a rapidly growing insurance software modeling and consulting firm based in London, Cambridge, Paris and Chicago.
Tyche bolsters QOMPLX’s insurance analytics offerings, and the combined business will offer more comprehensive insurance underwriting, pricing, risk modeling, capital modeling, and reserving functionality. It is an exceptional software business that combines innovative technology with actuarial expertise to help reduce the time and costs that insurers, reinsurers and intermediaries face in producing actionable data feeding today’s commercial and regulatory decision-making. Tyche and QOMPLX’s combined team are building the insurance data factory of the future with superior capabilities for data integration, transformation, analysis, and contextualization for corporations, employees, and consumers.
Tyche’s core modeling platform focuses on the complex challenges facing insurers: pricing risks, modeling and reserving capital, and improving efficiency. The modeling platform powers Tyche’s core flagship software offerings, including Tyche Capital Model, Tyche Model Generator, and the Tyche Pricing System, among others. Tyche’s unique solutions, soon to be coupled with the broader QOMPLX data analytics platform and Q:Insurance tools, positions QOMPLX as a leader in providing core data platform and actuarial modeling tools for next-gen insurance underwriting, risk and capital modeling.
“Tyche has made significant leaps in actuarial modeling and has built a tremendously well respected business serving some of the largest insurers, reinsurers, and risk intermediaries. Its track record of new business growth and exceptional client retention is a testament to that success,” said Jason Crabtree, QOMPLX’s Co-founder and CEO. “Our existing data integration and analysis capabilities from Q: OS and Q: INSURANCE are highly complementary to Tyche’s modeling and pricing offerings. We are very excited about how the combined business and technology capabilities will help our customers further their actuarial and data science efforts as part of the modern data supply chain in insurance. The talents of Alun and his highly experienced team are central to our own business and will continue to be instrumental to supporting digital transformation efforts inside our (re)insurance partners in both Life and Non-life use cases.”
“Our team is excited to have reached this opportunity with QOMPLX to unlock significant untapped potential in smart Insurance modeling and dynamic areas like cyber insurance,” said Alun Marriott, Managing Partner of Tyche. “We believe our category leading actuarial modeling software and growing client portfolio across Europe and internationally will add exceptional value to customers, especially when combined with other QOMPLX Insurance offerings.”
QOMPLX's Q: INSURANCE suite, led by Alastair Speare-Cole, is a fully integrated, data-driven decision platform linking efforts across the insurance value chain, including underwriting and/or referrals, pricing, risk management, and reinsurance. Tyche’s specialized software will accelerate QOMPLX’s ability to model capital and pricing risk. The combined firm will be competitively positioned with an integration of domain-agnostic and cloud-agnostic technologies. Additionally, integration with Tyche will enhance the rationale for adopting Q: HELM, QOMPLX’s cat modeling marketplace. More information on the Q: INSURANCE product suite is available here. More information on RPC-Tyche’s current solutions is available here.
The acquisition remains subject to certain closing conditions and is being made as part of QOMPLX’s proposed business combination with Tailwind Acquisition Corp., (NYSE: TWND), a special purpose acquisition company. QOMPLX’s and Tailwind Acquisition Corp.’s boards of directors have unanimously approved the proposed business combination. Completion of the proposed business combination is expected in mid-2021, subject to approval by Tailwind’s stockholders and the satisfaction or waiver of other customary closing conditions identified in the business combination agreement entered into by QOMPLX and Tailwind Acquisition Corp.
About QOMPLX
QOMPLX is the leader in cloud-native risk analytics. We help organizations make intelligent business decisions and better manage risk through our advanced, proprietary risk cloud platform. We are the leaders at rapidly ingesting, transforming, and contextualizing large, complex, and disparate data sources through our data factory in order to help organizations better quantify, model, and predict risk in areas including cybersecurity, insurance, and finance. Backed by Bill Foley's Cannae Holdings, QOMPLX is co-founded by CEO Jason Crabtree, a former Special Advisor to the Commanding General of the U.S. Army Cyber Command and the Department of Defense, West Point graduate, Rhodes Scholar, and veteran of the War in Afghanistan, and by CTO Andrew Sellers, a U.S. Air Force Academy valedictorian, Truman Scholar, and Iraq War veteran. QOMPLX has entered into a definitive business combination agreement with Tailwind Acquisition Corp. and will be traded on NYSE under the ticker QPLX upon closing of the proposed business combination. For more information, visit qomplx.com and follow us on Twitter.
About RPC Tyche
RPC Tyche is an award-winning technology software and consulting company. Our software platform, Tyche, is used by some of the largest life, non-life, composite and pension firms worldwide, which benefit from the ground-breaking capabilities that Tyche gives them. Our consulting and customer success team provides a full breadth of actuarial services with a focus on Tyche implementations and developing solutions in Tyche. We have a strong team of exceptional actuarial developers and offer fully hosted solutions for customers. Our headquarters are in the City of London and we have offices in Cambridge, Paris and Chicago.
