Since Altair's formation in 1990, the company has evolved into the premiere underwriting, claim and transactional auditing firm in the property and casualty industry. We are the oldest company dedicated solely to this function in our business sector. Over the years, Altair has pioneered the paperless audit process with electronic file review forms, programmed to result analysis and formatted reports transmitted in any electronic or hard copy method desired by our clients. Our sister company, Antares, continues to provide Altair with innovations in processes and product delivery options, while increasing the number of Altair clients to whom they provide other specific technology services.
Altair was founded by Robert Drag and John Webb, both former officers at Chartwell Reinsurance Company. When Chartwell relocated to Stamford, Connecticut, in 1990, the two men wished to remain in Minneapolis, so they decided to follow their entrepreneurial spirit and form their own business enterprise together.
From the beginning, they understood their unique knowledge and experience in the insurance and reinsurance industry filled an unmet need in the marketplace. They offered their services to insurers and reinsurers, taking on difficult assignments that complemented their clients' range of expertise, as well as projects companies lacked the time or internal staff and resources to handle themselves.
Altair grew in size, experience and reputation over the next two decades. Companies increasingly drew in the firm's proven skills to assist in various capacities with disputes, arbitration, litigation and discovery. Today, Altair representatives act as auditors, consultants and expert witnesses on behalf of clients. Companies worldwide turn to Altair to handle management, underwriting, claim and transactional audits of prospective, in-force or runoff relationships.
Altair's client base includes international insurers and reinsurers whose needs range from investigating potential risk assumption and ongoing portfolio management, to due diligence for investment purposes. Altair has worked a great deal with Bermuda and London markets, including Lloyd's. It has a wide range of expertise in the areas of Property, Workers' Compensation, Automobile, General, Professional, Medical Malpractice and Employment Practices Liability, Treaty and Facultative Reinsurance and more. Altair also has an expanded network of contractors available to assist with projects requiring specific expertise.
Although Altair lost a friend and partner with the passing of John Webb in December 2007, the company continues to operate with the integrity and professionalism that John inspired. Under the direction of Bob Drag, Altair has moved forward in growing the company with an eye to the future in assisting those in need of their services for many years to come.