Risk modelling news

The insurance-linked securities (ILS) market has long designed its risk transfer products and solutions using the insights gleaned from the outputs of catastrophe risk models, but in the future a “digital twin” could be a far more intuitive solution that can drive significant ILS innovation, we believe.

In the second in a series of sponsor showcase video interviews for the upcoming Artemis ILS NYC 2022 conference (held April 22nd in New York City), we welcomed Thomas Nuth, the Vice President of Marketing at DeNexus, one of our Bronze sponsors for the conference.

The strong investor support seen for the first catastrophe bond issuance from Netherland’s based insurer NN Group, or Nationale-Nederlanden, shows the confidence the ILS investor community has in the insurers catastrophe management and underwriting, as well as in the modelling process, according to RMS.

After another catastrophe loss year where the insurance and reinsurance industry has experienced a significant burden from so-called secondary perils, James Vickers, Chairman International, Reinsurance at Gallagher Re has called for a “redefinition” to be considered.

A little outside of the typical Artemis wheelhouse, but this is news we feel our investor community will appreciate and it is also highly relevant for any readers seeking growth equity funding for their risk modelling, analytics and risk transfer businesses.

Well-known catastrophe risk modelling firm AIR Worldwide, which remains the most prolific when it comes to providing risk modelling services to the catastrophe bond market, is being rebranded to fall under the name of its parent Verisk, where it will be known for its “extreme event solutions”.

Prologis, Inc., the logistics, warehousing and supply-chain focused real estate owner and investor that sponsored its first catastrophe bond in December, a $95 million Logistics Re Ltd. (Series 2021-1) cat bond, has highlighted the support of Hemant Shah’s artificial intelligence property data and analytics firm, Archipelago.

The Texas Windstorm Insurance Association (TWIA) is now set to finally appoint insurance and reinsurance broker Aon to provide catastrophe risk modeling services, after the company was recommended by its Actuarial & Underwriting Committee after a second round of RFP’s.

Reask, a catastrophe modelling, climate analytics and data company that uses machine learning techniques and artificial intelligence, has gained a significant vote of confidence from Chinese technology giant Tencent, which has led a seed funding round for the company.

Acrisure Re, the reinsurance broking unit of the Acrisure group, has hired well-respected catastrophe modeling specialist and industry leader Dr. Ming Li as its new Global Head of Catastrophe Modeling.