EigenRisk Adds Reask Models to its Global Catastrophe Risk Management Platform
Relationship Brings New Options for Cyclone, Hurricane Modeling with Timely Post-Event Footprints for Event Response, Parametric Claims and Underwriting Moratoriums
ANN ARBOR, MI, May 24, 2021 – EigenRisk® today announced a new agreement with Reask, a leading science and technology company focusing on natural hazard modeling, to make global cyclone, typhoon and hurricane modeling and event response services available through the EigenPrism® catastrophe risk management platform. The new relationship with Reask adds unique resources that complement the platform’s existing modeling capabilities.
“With increasing numbers of cyclones, typhoons and hurricanes making landfall with greater intensity, damage and loss in all areas of the world, we remain committed to build the most complete platform for catastrophe risk management,” said Deepak Badoni, president, EigenRisk. “Our relationship with Reask brings a dynamic worldwide resource that provides proven capabilities to address all phases of catastrophic wind events, including timely and accurate post-event footprints that are critical to effective disaster response and claims management.”
Reask offers pre-event, real-time and post-event modeling capabilities for global cyclone, climate and weather-related catastrophes. Its HindCyc Event Response Service is widely used by insurance and reinsurance companies to assess the potential impact of an event on their risk portfolios, so they can define underwriting moratoriums with greater precision, estimate losses for capital reserving, allocate claims resources, and communicate impact to stakeholders. The service also helps determine parametric insurance coverages when policy triggers involve intensity-based measures from its modeled footprint.
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EigenRisk, Inc., an independent insurance technology firm, helps (re)insurers, brokers and risk managers across the globe manage catastrophe risk, and drive higher growth, customer engagement and operational efficiency. The firm’s cloud-based platform provides one-stop access to powerful data management, geo-visualization, analytics, reporting, modeling, alerts and APIs. These capabilities are integrated with hazard data, event projections and simulations curated from more than 20 leading public and private sources to provide a more dynamic and complete perspective of risk. Visit www.eigenrisk.com.