Greenlight Capital Re, Ltd. announced the launch of Greenlight Re Innovations, its new innovation unit.  Greenlight Re Innovations will use technology, data and new risk transfer delivery mechanisms to improve the products and services available to Greenlight Re's insurance company clients, as well as to underlying individuals and businesses.  By partnering with technology and risk enterprises to maximize the quality and efficiency of risk management methods, the innovation unit will seek to deliver on its central mission of supporting commerce and personal health and welfare.  In doing so, Greenlight Re Innovations will implement a more holistic risk management approach that incorporates preparedness, technologies for prevention, and post-loss mitigation as well as risk finance. Greenlight Re's innovation strategy recognizes that technology is advancing at a rapid pace, generating ever-growing sources of data.  These data sources capture valuable information that can improve risk management for the benefit of businesses and individuals, but are often viewed as a one-way avenue for insurer profits.

The unit will be headed by Greenlight Re's Chief Operating Officer Michael Belfatti.