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Analyze Re

 Insurance | Halifax, NS | Founded: 2013 | Employees: 25-50 |


Last updated December 20, 2018 | To download a PDF version, click here

Company Overview

Analyze Re Inc. (“Analyze Re”) is an InsurTech company based in Halifax, Nova Scotia. They develop solutions to help uncover hidden profits within reinsurance and insurance portfolios. Reinsurers and insurers can leverage Analyze Re’s real-time analytics, and artificial intelligence and machine learning–assisted technology to make faster and more informed pricing, portfolio optimization, and capital management decisions.

Senior Management

Adrian Bentley: Co-Founder and CEO (2013-Present). Previously: Chief Software Architect (2007-2010) and Director of Software Development (2010-2013), Flagstone Reinsurance Holdings Ltd. (2007-2013); Senior Software Engineer, West End Capital Management (1999-2006); Software Engineer, Intactix International (1997-1999); Software Engineer, Comshare Ltd. (1994-1997). Education: Electrical and Electronical Engineering, University of Plymouth (1003); BSc, Sheffield Hallam University (1994).

Oliver Baltzer: Co-Founder and VP, Director of Technology (2013-Present). Previously: Computer Science Professor, Dalhousie University (2012-Present); HPC Architect (2007-2012) and Chief Architect (2012-2013), Flagstone Reinsurance Holdings Ltd. (2007-2013); Software Developer, Arc-9 Interactive (2004-2005). Education: Computer Engineering, University of Berlin (2003); PhD in Computer Science, Dalhousie University (2011).

Shivam Rajdev: Co-Founder and VP, Director of Operations (2013-Present). Previously: Director of Risk Management Systems, Flagstone Reinsurance Holdings Ltd. (2009-2013); Summer Associate, Lehman Brothers (2008); Assistant Vice-President, Deutsche Bank (2003-2007); Software Consultant, Goldman Sachs (2001-2003); Software Engineer, Infosys (2000-2003). Education: Bachelor of Technology, Banaras Hindu University (2000); MBA Finance, Dartmouth College (2009).


Analyze Re was founded in 2013 by three co-founders: Adrian Bentley, Oliver Baltzer, and Shivam Rajdev. All three of them worked at Flagstone Reinsurance Holdings Ltd. (“Flagstone Reinsurance”) prior to starting the insurance technology company. They realized that they wanted to combine the best software analytics suite designed for reinsurance and insurance companies with machine learning, which Flagstone Reinsurance did not implement at the time. By late 2012, it was announced that Validus Holdings would acquire Flagstone Reinsurance for over $600 million, and that was when the three employees left to start up their own company.[1]



Analyze Re has raised a total of $1.4 million in funding so far.[2] They are an early stage venture, so the funding has been provided through Series A. On November 5, 2013, four investors put in the $1.4 million with Jevon MacDonald and Rho Canada Ventures being the most recent ones. The other two investors are Innovacorp, and BDC Venture Capital.


Key Corporate Developments

Press releases:
June 13, 2018: Analyze Re rebrands itself with new logo and color scheme
Oct 24, 2016: Verisk Analytics acquires Analyze Re

Business Highlights


Although Analyze Re is owned by Boston-based AIR Worldwide (“AIR”), it still remains as a standalone platform that can enable anyone to get analytical results without being implemented into AIR applications. They aim to be an objective technology that uses machine learning-assisted discoveries to help uncover hidden profits in the reinsurance industry.  

Their number one goal continues to be helping companies turn huge volumes of catastrophe model data into meaningful, business impacting insights.


  1. Real-Time Analytics: Analyze Re’s real-time analytics come from price complex contracts which evaluates reinsurance structures. It can also determine the marginal impact of how a contract fits into the whole portfolio instantly.
  2. Reinsurance Portfolio Optimization: Analyze Re leverages the power of artificial intelligence and machine learning to uncover hidden profits in their clients’ portfolios. Its algorithms automatically search through millions of potential portfolio combinations quickly and returns a set of recommended portfolios.


Analyze Re’s technology provides realistic guidance to the executive and underwriting teams in advance of and during renewals. Their machine learning technology can dramatically improve the expected return of complex portfolios without sacrificing underwriter control by using predictive analytics.


Analyze Re became a member of the Verisk family of companies back in 2016. Verisk Analytics is a catastrophe risk modeling business, which is owned by AIR, the parent company. This will enable AIR to provide its clients with additional real-time analytics, portfolio roll-up, and exposure management to its nine different offices worldwide: Boston, San Francisco, Nova Scotia, Munich, London, Hyderabad, and Singapore, Beijing, and Tokyo.[3]



At Analyze Re, Shivam Rajdev – the Director of Operations – works with the sales and marketing team to identify and prioritize customers’ needs and translates those into a logically-sequenced product and feature roadmap for the engineering team.[4]




Insurtech companies are quickly entering the financial technology industry, as technological advances and emerging companies change customer expectations. That’s why companies such as Analyze Re and its competitors need to stay ahead of each other by offering different, unique products.

  1. TechCanary – (Milwaukee, Illinois) TechCanary is a provider of a cloud-based, analytics-driven insurance solution. On June 26, 2018, it was announced that they have incorporated in Canada and have established a new Canadian headquarters office to take advantage of the company’s rapidly growing market share in the country.[5]
  2. Covera – (Quebec, Ontario) Covera is a digital insurance brokerage based in Quebec that is designed to help customers find annual insurance rates for the best price. The company uses artificial intelligence to automatically shop for customers every year, and if they can get better value by changing insurance companies, Covera handles all of the work necessary.



Corporate Profile Created By: Steven Lou, Ivey HBA2
Steven Lou

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