Juniper Re collaborates with Reask for hurricane risk information solutions
Juniper Re collaborates with Reask for hurricane risk information solutions | Insurance Business Australia
Reinsurance
Juniper Re collaborates with Reask for hurricane risk information solutions
It will provide pre- and post-landfall wind speeds and precipitation forecast data
Reinsurance
By
Kenneth Araullo
Juniper Re, reinsurance broking arm and indirect subsidiary of The Baldwin Group, has announced a strategic collaboration with catastrophe risk assessment firm Reask to provide Juniper Re clients with pre- and post-landfall hurricane wind speeds and precipitation forecast data.
Hurricanes present significant challenges in obtaining accurate wind speeds due to limited observations and traditional measurement failures at high wind speeds. Despite technological advancements, Juniper Re noted that translating hurricane paths and probabilities into actionable risk metrics for pre-landfall forecasts remains difficult.
Reask uses proprietary data and AI models to offer high-definition wind fields data and quantify forecast uncertainty, assessing wind speed probabilities for each 1km grid cell in the hurricane’s path, days in advance. This capability allows for more precise and direct response planning.
Adam Miron (pictured above, left), head of catastrophe analytics at Juniper Re, welcomed the collaboration.
“We are excited to include Reask in our portfolio of event response solutions,” Miron said in a news release. “The approach taken by Reask for assessing hurricane risk is cutting-edge and results in unmatched precision. We like to work with leading data providers and experts like Reask who are dynamic, innovative, nimble, and intensely focused on their core mission, providing our clients with the best solutions in the market.”
Jamie Rodney (pictured above, right), chief executive officer at Reask, also noted that as hurricane intensity increases, precise measurement of potential impact is crucial.
“We are pleased to integrate our market-leading hurricane risk data into Juniper Re’s event response solutions, helping to inform critical decisions and minimize losses,” Rodney said.
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