CatX integrates Verisk catastrophe model capabilities into risk capital platform

CatX, the digital catastrophe and parametric risk exchange company, has announced another partnership with modelling and risk analytics specialist Verisk, whose catastrophe risk models will be integrated into its platform services.

CatX has already announced partnerships with CyberCube, for cyber risk and Moody’s RMS for catastrophe risk analytics, while Reask models and analytics are also available through its exchange platform and its Catamaran tool.

The company sees the incorporation of a wide-range of modelled views of risk and analytics on exposures as critical to offering investors and markets deeper insights in opportunities that might be shown through the CatX platform.

CatX also sees this multi-model approach as important to attract new capital into insurance-linked securities (ILS), which it believes can help enhance the stability of the global insurance and reinsurance market.

Investors using CatX’s platform will now be able to use and access Verisk’s Extreme Event Solutions catastrophe risk models directly within its ILS analytics tool, Catamaran, for detailed analysis and benchmarking of deal opportunities.

The company explained, “On Catamaran, investors can test and analyse opportunities with historical events and losses for hurricanes, earthquakes, weather, severe convective storms (SCS) and more. Users can examine event sets, historical averages, minimum-maximum values, and potential payout scenarios, understanding what losses or returns would have been under different conditions.”

Visualising risk analytics and data can help investors to understand more about deal opportunities on the CatX platform, going beyond just historical performance alone by incorporating scenario- and climate-impact analysis.

“We are thrilled to work with Verisk to augment our analytics offerings,” Benedict Altier, Chief Executive Officer of CatX Global, Inc. commented. “By integrating Verisk’s sophisticated models, we’re providing investors with deeper insights and a more transparent view of risk. This not only empowers investors but also facilitates the flow of new capital into the ILS market.”

“Verisk is pleased to work with CatX and support their mission to attract new sources of capital into the insurance market,” added Rob Newbold, president of Verisk Extreme Event Solutions. “By adopting our advanced risk modeling solutions into CatX’s platform, we can provide institutional investors with insights and analytics needed to better understand complex risks from increased frequency and intensity of natural disasters. This also supports efforts to increase resilience on a global scale.”

“Access to reliable and comprehensive risk models is crucial for investors entering the ILS market,” Jon Wood Head of Origination at CatX also said. “Our collaboration with Verisk, along with integrations with other leading model providers ensures that investors have the best resources at their fingertips.”