Reask

We at Reask would like to extend our gratitude to The Insurer and Henry Gale for organizing The Parametric Insurer Conference 2024. The conference featured an engaging first panel on "Building Resilience to the Most Pressing Threats," moderated by Dr. Adrian Leonard, with insights from industry leaders including:  - Angus Kirk (CEO, Global Parametrics)   - Brad Meier (Chairman, President & CEO, NormanMax Insurance Solutions)   - Michele Pignoli (Global Head of Parametric Products & Solutions, Generali Global Corporate & Commercial)  - Paul R. (Associate Partner, Parametric Solutions, Augment Risk) The second panel focused on "Managing Volatility in an Uncertain World," moderated by Henry Gale. Panelists included:  - Victor Bouton (Data Scientist Manager, Liberty Mutual Reinsurance)   - Edward Byrns Jr (Senior Class Underwriter, Chaucer Group)  - Loredana Mazzoleni Neglén (Global CEO, Altitude Underwriting, Strategic Risk Solutions) - Sebastien Piguet (Co-founder & Chief Insurance Officer, Descartes Underwriting)  - Claire Wilkinson (Managing Director, Alternative Risk Transfer Solutions, WTW)   We appreciate the valuable discussions and insights shared during these sessions.    #ParametricInsurance #ClimateRisk #InsuranceInnovation #Resilience #VolatilityManagement #Reask #TheInsurer #IndustryInsights

💣 Why don't we detonate nuclear bombs to dissipate #Hurricanes? Listen to Reask climate advisor Daniel Swain discuss how humans mostly cannot modify the weather, and definitely cannot control #hurricanes! https://lnkd.in/dU3fjaNS #ClimateTech #tropicalcyclones #weather #meteorology #weathercontrol

🌟 We’re thrilled to announce that Reask has been shortlisted for The Insurer Parametrics Awards 2024 in the ‘Solutions Provider of the Year’ category! David Schmid, our Global Head of Data Products, will proudly represent Reask at the awards ceremony on October 30th at Landing Forty Two, London. We look forward to meeting with industry peers and partners to celebrate the innovation shaping the future of parametric insurance. More information about the awards can be found here: https://lnkd.in/gTFy8AeT #TheInsurer #Insurance #Parametric #RiskModeling #ClimateForecasting #Innovation #InsurerAwards #Reask #DataScience #RiskManagement #InsurTech #TechForGood #Resilience #FutureOfInsurance #ClimateRisk #IndustryAwards 

💥MILTON ranks only behind Andrew and Ian in its GDP impact in terms of wind speeds💥 --- ECONOMIC IMPACT ASSESSMENT OF HURRICANE MILTON --- 🌀 Based on our 1x1km gridded wind speed data from Metryc, see in our interactive chart how #HurricaneMilton compares to other historical storms such as #HurricaneHelene, Andrew and #HurricaneIan: ➡ https://lnkd.in/ex75wgqR How to read: 1️⃣ Milton impacted 65bn GDP with winds greater than 100mph. 2️⃣ Ian and Andrew impacted 115bn GDP with winds greater than 100mph. 📈 A comparison with Helene shows that Milton affected significantly more GDP in terms of wind impact. Milton is at the top of the curve up to winds of 85mph. Only Ian, Andrew and, to a lesser extent, Ida have affected more GDP and are at the tail of the curve with the highest winds, where the highest losses also occur. 🧐 As the GDP figures are from 2019, it is frightening to see what impact Andrew would have had. 🌏 Pro tip: This curve can be used to structure parametric "GDP Impacted #CatBonds or #ParametricInsurance" for quick and efficient payouts for such events. 👉🏻 Source of GDP: https://lnkd.in/ec4Sibkn ☎ Get in touch with us: contact@reask.earth #HurricaneIan Reask #EconomicImpact #Florida #Tampa

Just like it was the case for #HurricaneIan in 2022, #HurricaneMilton has its peak winds on the left side of track* - which is often incorrectly referenced as “the clean side” (e.g. see BBC News article linked below) https://lnkd.in/gEhJy3S5 While this clean/dirty framework is ok to describe text book tropical systems, it is a bad over-generalization of what can happen when a system interacts with non-tropical weather, and in reality, peak winds often do occur on the “clean side”. When modelling wind impacts from a #hurricane event like #Milton this matters a lot. If your simplified model of #hurricane winds expects peak winds to always sit on the dirty side, you will miss the magnitude of the impact on #Tampa… and by up to 50% if you believe the article above. All #hurricanes are not equal in terms of their wind structures, and at Reask we take pride in deploying models that account for the complex wind patterns of events like #Ian and #Milton. Given the recent leaps in #NWP models and #machinelearning we can now do better than assuming all hurricanes can be described by a Holland or Willoughby profile… and #Milton is a great example of why we need models that account for more variability. *Landfall snapshots of #Ian and #Milton below are from the RAMMB repository courtesy of John Knaff

🌀 Wind Field Shifts and Uncertainty: How Hurricane Milton's Wind Field Could Impact Damage Expectations 🔬 As our Chief Science Officer, Thomas Loridan, highlighted https://lnkd.in/eQxj6KMb, uncertainty in predicting Hurricane Milton's wind maximum is significant. Our analysis shows a key difference between Reask's Left-Hand Side (LHS) Metryc View and a Right-Hand Side (RHS) location for the wind speed maximum. 🗺️ The map below shows the sensitivity between LHS and RHS wind fields using the Reask model, with population density indicated by grey shading (light = high density, dark = low). In areas like Tampa, wind gusts can vary by up to 20 mph depending on which model is used. Early weather reports suggest gusts over 90 mph may have reached as far north as Tampa International Airport, consistent with our LHS model. Under the RHS model, those speeds drop to around 70 mph, lowering potential damage. The solid and the dashed lines show the 90 mph wind gust contour for Reask's Metryc view and RHS sensitivity view respectively. ❗This 30% difference is critical—gusts above 90 mph can cause significant damage, while 70 mph gusts suggest more limited impact. The image highlights areas most at risk, including Hillsborough, Pinellas, and Manatee counties. 📈 If you're using an RHS model, be prepared for unexpected impacts—for example insurance claims patterns could shift in densely populated regions near the 90 mph wind gust threshold. To access our data and asses if your risks are exposed contact us at contact@reask.earth or reach out to our team directly. With thanks to Nicolas Bruneau for the plot.

🌪️ This year at Climate Week NYC, Reask, alongside X, the moonshot factory’s Bellwether, and Fathom, came together at Google’s offices to educate industry leaders on the crucial role of specialist model providers in understanding and mitigating climate risk. 🙏 We extend our deepest thanks to our host, Nigel Walsh from Google, as well as to our moderators and panelists: Ben Carr from Bloomberg, Andrew Smith and Karena Vaughan from Fathom, Sarah Russell from X, the moonshot factory, Jamie Rodney from Reask, Zane Martin, PhD SCR from PwC, Andrew Eil from Tata Consultancy Services, Naomi English from MSCI Inc., Amy Barnes from Marsh, Yoon Hui Kim from PwC, and Saman Armal, Ph.D. from BlackRock. Your insights were invaluable in shaping the conversation on climate adaptation and resilience. 🙌 We also want to express enormous gratitude to Holly Elizabeth, Karena Vaughan, and everyone who worked tirelessly behind the scenes to make this event successful. #TropicalCyclones #ClimateResilience #ClimateWeekNYC #ExtremeWeather #WindRisk #ClimateData #ResilienceInAction #Reask #HurricanePreparedness #RiskModeling #ClimateAdaptation

🌍 We are excited to announce that our CEO, Jamie Rodney, has been invited by the Swiss Association of Actuaries to present at the 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗶𝗻 (𝗥𝗲-)𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝟮𝟬𝟮𝟰 in Zurich on October 3rd. Jamie will be presenting on “Hurricanes: Challenges and Trends Over Time”, offering valuable insights into the evolving nature of tropical cyclones and their significant impact on the insurance industry.  We are proud to be part of this prestigious event, organized by SCOR and the Swiss Association of Actuaries, which brings together industry leaders to explore the critical intersection of sustainability and insurance. Representing Reask will be both our CEO, Jamie Rodney, and our Head of Global Data Products, David Schmid. They will engage with global leaders to discuss key topics, including climate risk modeling, trends, challenges, and uncertainties in tropical cyclone risk assessment. Event link 🔗- https://lnkd.in/e9CHHMWN 💡 We look forward to gaining valuable insights and contributing to shaping a sustainable and data-driven future for the insurance industry. #Sustainability #InsuranceInnovation #ClimateRisk #Reask #Zurich #Actuaries #RiskManagement #Reinsurance #ClimateAction #SustainableInsurance #DataDrivenInsights #TropicalCyclones #HurricaneRisk #ExtremeWeather #ClimateResilience #CatastropheModeling #NaturalDisasterPreparedness #ResilienceBuilding

We’re excited to announce that Reask's experts, Jamie Rodney (CEO), Thomas Loridan (Co-Founder & Chief Science Officer), and David Schmid (Head of Global Data Products), are featured in the latest Global Association of Risk Professionals (GARP) Climate Risk Podcast! 🎙️ “GARP Rethinking Natural Catastrophe Modeling: New Approaches for a Changing Climate” In this episode, they discuss how climate change is reshaping natural catastrophe modeling and what it means for the insurance industry. Topics include:  🌍 The integration of physics into Nat Cat models.  🌍 Machine learning's role in harnessing earth system data.   🌍 The rise of innovative products like parametric insurance. Listen now for insights into the future of risk modeling and how Reask is helping to close the insurance gap. Access the podcast here: https://lnkd.in/eQw2a8gV #ClimateRisk #NatCatModeling #InsuranceInnovation #RiskManagement #Reask #GARP #InsuranceTech #ParametricInsurance #ClimateResilience #DataScience #MachineLearning #ExtremeWeather #ClimateChange #ClimateTech 

🌪️ #HurricaneHelene is set to bring catastrophic storm surges, life-threatening hurricane-force winds, and severe flooding to Florida’s Big Bend region. Communities in northern Florida, Georgia, and the southern Appalachians face significant risks as the storm progresses inland, with dangerous conditions expected through Friday.     At Reask, we’re committed to keeping you prepared. With #LiveCyc, our cutting-edge hurricane forecasting model, we deliver real-time, high-resolution data to help you mitigate risk and safeguard your operations. Our system offers precise insights, ensuring you can respond proactively to protect your assets and people.     Contact us at contact@reask.earth or visit our website to learn more about how Reask can strengthen your disaster preparedness: https://reask.earth.     Stay safe, stay informed with Reask.     #HurricaneHelene #FloridaWeather #StormPreparedness #BusinessResilience #LiveCyc #ExtremeWeather #EarlyWarningSystem #RiskManagement #DisasterPreparedness #WeatherForecast #ClimateRisk #ProtectYourBusiness #MachineLearning #ClimateTech