Risk modelling news

As billions of dollars continue to flow into new infrastructure such as AI data centres, the re/insurance industry will be forced to rethink traditional approaches to risk modeling, according to Arbol’s Sid Jha, who emphasises that data-driven solutions will play a critical role in managing climate volatility and boosting resilience.

Karen Clark & Company (KCC), the catastrophe risk modelling specialist, has launched RiskInsight® 4.16, the latest version of its RiskInsight open loss modeling platform, which introduces advanced performance, automation, and scalability enhancements for insurers, reinsurers, and insurance-linked securities (ILS) managers.

The connectivity between risks in an increasingly complex world means their consequences can be amplified. As the insurance and reinsurance industry work to understand emerging risks, there’s a need to build the conviction and confidence of all stakeholders including capital providers, so risks can be effectively transferred, according to Moody’s CEO Rob Fauber.

Recognising the burgeoning interest in underwriting exposures related to the data center build-out, global data analytics and technology provider Verisk has announced the launch of a dedicated exposure database for these large risks in the United States.

A new study co-authored by catastrophe modelling and climate analytics specialist Reask, has demonstrated how advanced downstream forecast analytics can eliminate basis risk in parametric insurance by funding pre-landfall protective actions before a hurricane strikes.

Verisk, the data analytics and technology provider, has acquired McKenzie Intelligence Services (MIS), a geospatial intelligence and event response company that specialises in global real-time catastrophe and conflict event analysis.

Global gross domestic product (GDP) exposure to damaging severe convective storm (SCS) winds is projected to grow 14% over the next 30 years, reaching $20.2 trillion as climate risks continue to reshape underwriting globally, according to a new report by First Street, the climate risk financial modeling provider.

Verisk’s recent launch of its updated U.S. Tropical Cyclone model, delivered via the firm’s new cloud-native Synergy Studio platform, represents a major milestone built on years of deliberate work, and according to Gayatri Natarajan, SVP of Product Management, the extensive effort behind the release directly reflects the evolving demands of the complex risk landscape the […]

Catastrophe models have been called out as failing to account for so-called “supershear” earthquake events, with specialist Lloyd’s re/insurer MS Amlin stating that models “are failing to factor in a little-known class of earthquake despite it being linked to two thirds of industry losses from seismic events in the last decade.”

Verisk, the data analytics and technology provider, has announced a major update to its Tropical Cyclone Model for the United States, delivered through its new cloud-native Synergy Studio platform, providing a more realistic assessment of individual risk and portfolio exposure across insurance, reinsurance, and capital markets.