AbsoluteClimo and AKR Zell have announced a strategic partnership that will see the two firms provide the Insurance-linked securities (ILS) and re/insurance industry with climate-driven risk services.
The partnership will have an emphasis on providing independent views of risk and addressing climate- related gaps unfulfilled by traditional industry tools.
AKR Zell’s reinsurance and actuarial expertise and knowledge of natural catastrophe models and AbsoluteClimo’s cutting edge global climate physics and machine learning financial predictive models are seen as complementary.
“The physics of global climate change and variability, and understanding its financial impacts, benefits from a multidisciplinary specialised approach,” said Brendan Lane Larson, AbsoluteClimo Co-Founder and Climatologist.
“AbsoluteClimo is pleased to collaborate with AKR Zell, which brings deep actuarial expertise and risk transfer experience to the table, to improve and address modelling gaps and discrepancies which ail the ILS and re/insurance industry.”
“I have seen the pricing and analytics processes of many reinsurers. When it came to Nat Cat perils, I always felt that their ability to add seasonality was limited,” added Andreas Karl Robert Zell, Managing Director at AKR Zell.
“AKR Zell is pleased to have found AbsoluteClimo as a partner. Their unique ability to forward-predict natural perils is providing the missing piece.”